Calypso Completes Acquisition of Minority Stake in Sernova Financial

Calypso Technology Inc., a provider of capital markets and investment management software, today acquired a minority stake in the capital of Sernova Financial, a provider of Cloud Cloud The cloud or cloud computing helps provides data and applications that can be accessed from nearly any location in the world so long as a stable Internet connection exists. Categorized into three cloud services, cloud computing is segmented into Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (PaaS). In terms of trading, the versatility of the cloud service allows retail traders the ability to test out new trading strategies, backtest pre-existing conc The cloud or cloud computing helps provides data and applications that can be accessed from nearly any location in the world so long as a stable Internet connection exists. Categorized into three cloud services, cloud computing is segmented into Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (PaaS). In terms of trading, the versatility of the cloud service allows retail traders the ability to test out new trading strategies, backtest pre-existing conc Read this Term-based Clearing Clearing Clearing is a general term that simply means many different things depending on the subject and related industry. Most commonly, this refers to the reciprocal exchange between banks of checks and drafts, and the settlement of the differences, or the total of claims settled at a clearinghouse. In finance and banking, the word clearing has different meanings depending on the more specific business model. Moving checks from the bank where they were deposited to the bank on which they were drawn. Th Clearing is a general term that simply means many different things depending on the subject and related industry. Most commonly, this refers to the reciprocal exchange between banks of checks and drafts, and the settlement of the differences, or the total of claims settled at a clearinghouse. In finance and banking, the word clearing has different meanings depending on the more specific business model. Moving checks from the bank where they were deposited to the bank on which they were drawn. Th Read this Term and post trade services.

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All proceeds from the transaction will be retained by Sernova Financial to expand the platform’s capabilities and further strengthen alignment with its investors. Terms of the transaction were not disclosed.

Sernova Financial’s cloud-based clearing service is already available on the Calypso platform, with business process services that re-create the shared infrastructure and service elements of traditional clearing brokers and counterparties.

The new tie-up combines Sernova's capital markets expertise and the Calypso platform's capability of cutting transaction costs and providing optimal workflows. Sernova’s offering also aims to reduce the barriers to centralised clearing for regional banks and investment managers.

Calypso has recently launched a Cloud Services Division featuring a comprehensive lineup of cloud solutions and enterprise apps, simplifying regulatory compliance.

Pascal Xatart, CEO of Calypso Technology, commented: "Calypso seeks to make the financial markets really work on Cloud. Our investment and partnership with Sernova Financial will broaden the markets we serve by providing the industry with a turnkey cloud-based solution to access the Centralised Clearing Counterparties (CCPs) network."

Venkatesh Ramasamy, Chairman and co-founder of Sernova Financial, added: "Calypso entry into our capital strengthens our technical and commercial partnership with a recognised industry leader. Regulatory hurdles have reduced the number of clearing brokers and increased the cost of their services. Providing unrivalled cost and operational efficiency, Sernova needed to expand its product coverage to address a soaring demand".