Caplin Systems Ltd., the real time web company, announced that Calyon, the corporate and investment bank of the Credit Agricole Group, has selected Caplin Trader as the basis of its new online single dealer portal for fixed income trading.
Caplin Trader integrates with Calyon’s in-house back office trading platforms and enables the bank’s clients to trade bonds, interest rate swaps and Euro medium term notes (EMTNs) via a single intuitive interface.
“Our existing methods of communicating with our clients have served us well for many years, but we are always searching for better ways to interact with our clients and we wanted to offer a more accessible and streamlined alternative; one which would enable us to deliver a range of products and added value services direct to our clients electronically.” says Edward Willems, co-head of Interest-rate Derivatives, Calyon.
Caplin signed the deal with Calyon in January 2008 following a Proof of Concept in Q4 2007, which demonstrated Caplin Trader’s ability to deliver new products rapidly to the market and ended the bank’s thorough 12 month selection process. Calyon plans to install Caplin Trader in its Paris office and it is expected to go live in 2008. Caplin Trader is an Internet Application which will enable Calyon to offer sophisticated online pricing and trading functionality. The advanced drag-and-drop Ajax front-end makes it easy for end-users to create individual screen layouts to their exact requirements.
The fact that Caplin Trader can be accessed from any standard web browser, with nothing to install and no changes to security settings or firewalls, will allow Calyon to access the largest possible customer base. Caplin Trader is built on the Caplin Platform, which provides a highly scalable architecture which will enable Calyon to handle unlimited levels of customer demand with ease.
“It’s increasingly important for dealers to provide their clients with direct access to fixed income liquidity, in order to reduce transaction costs and grow market share. This can create a major challenge for dealers trying to provide an integrated front end that allows trading across multiple desks and back-end systems. Caplin Trader solves this problem, and Calyon is using it to create an online fixed income trading portal of exceptional scope and sophistication. We are happy to be part of this exciting project,” says Paul Caplin.