Calypso acquires stake in clearing and post-trade provider Sernova Financial

Calypso Technology, a provider of capital markets and investment management software, announced today that it has acquired a minority stake in Sernova Financial, a provider of cloud-based clearing and post trade services.

Powered by the Calypso Cloud platform, Sernova Financial recreates the shared infrastructure and service items of clearing brokers. By reducing the transaction costs and providing optimal workflows, Sernova lowers the barriers to centralized clearing for regional banks and investment managers.

Calypso seeks to make the financial markets really work on Cloud,” said Calypso CEO Pascal Xatart. 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, Executive Chairman, and Co-Founder, Sernova Financial, added, Calypso entry into our capital strengthens our technical and commercial partnership with a recognized industry leader. Regulatory hurdles have reduced the number of clearing brokers and increased the cost of their services. Providing unrivaled cost and operational efficiency, Sernova needed to expand its product coverage to address a soaring demand.

Sernova supports all listed and OTC asset classes, instruments and currencies maintaining alignment with all CCP offerings.

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