Implementing the new collateral solution is intended to provide AIMCo with a platform that will better support new regulatory demands for both the over-the-counter and exchange-traded derivatives markets.
The mandate follows AIMCo’s decision to upgrade its existing Calypso technology system. In the course of the upgrade, client production environments are replicated on a remote server, allowing Calypso to execute upgrades and pre-test functionality before going live with the changes for real.
Calypso CEO Pascal Xatart said "They [Calypso] understand that their long-term success depends on an integrated, real-time infrastructure that can evolve with their business, and we appreciate that they have entrusted us with such a strategically important initiative."
Michael Baker, senior vice president of investment operations at AIMCo, added: "This project is both strategically and operationally significant for us.”
He said: "Replacing our manual collateral management system with a centralised, automated solution has already brought substantial benefits. We have greater control over our inventory, we can optimise our collateral, and going forward we will be able to comply with the new Basel Committee on Banking Supervision and International Organization of Securities Commissions initial margin regulations."