Synechron signs a Calypso implementation deal with SIX Group, the financial services provider and Swiss Stock Exchange infrastructure operator
(Thomson Reuters ONE) -
PARIS, LONDON, AMSTERDAM, the Netherlands, NEW YORK and PUNE, India, July
19, 2017 (GLOBE NEWSWIRE) -- Synechron, a global financial services consulting
and technology services provider, has signed a Calypso implementation agreement
with the SIX Group Ltd., a financial services provider and Swiss Stock Exchange
operator. Synechron was selected as systems integrator for the implementation of
Calypso v15, the SFR (Securities Finance Renewal) Program, in collaboration with
Calypso. The objective of the program is to update SIX's post-trade services
where it acts as a contractual Triparty agent for its clients to enhance its
Triparty collateral management services.
This innovative project is the first implementation where Calypso is being used
to manage contractual Triparty agent activities. The project has been divided
into two phases with the first to launch in January 2017. It is scheduled to
last two years and will employ a total of forty staff from SIX, Calypso, and
Synechron in 2017-2018.
"Synechron is a certified Calypso partner, which gives us access to considerable
expertise and concrete Calypso implementation experience. Furthermore, Synechron
already is working with Calypso in Switzerland, notably on collateral management
implementation, which gives them highly relevant subject matter expertise," said
Robert Bornträger, Division CEO of SIX IT who is responsible for the development
and operation of SIX's IT Services since 2008.
Project scope and production support
The first team of twelve Synechron consultants was deployed on the SIX project
during the first quarter of 2017. A portion of the team works on site while the
rest is based at Synechron's European Delivery Centre in Serbia. Synechron's
team of onsite and Serbia-based consultants have joined forces with staff from
SIX and consultants from Calypso to work together to manage the project,
integrate Calypso into SIX's systems, and build a testing and a production
support team. Moreover, Synechron will play an important role in providing SIX
staff with training covering the technical and functional aspects of Calypso.
The project also includes a significant digital services offering which gives
SIX clients access to the functionalities of the SFR project through their own
infrastructures.
A strategic and cultural fit
Synechron was chosen by SIX among four companies following a competitive call
for vendors during 2016. "We are extremely pleased to participate in this
ambitious and innovative SFR project together with SIX and with the support of
our partner Calypso. This project consolidates all the knowledge we have built
up over the past few years in terms of financial software integration including
our expertise in collateral management," added Pascal Rellier, Managing
Director, Synechron.
In addition to being a Calypso Alliance Partner, one of Synechron's key assets
is the existence and strength of its Calypso Centre of Excellence with more than
50 Calypso experts in Europe able to provide in-house training with the Calypso
Campus program. The Centre of Excellence was created in 2015.
Furthermore, SIX has found a strategic partner in Synechron: "One of SIX's
fundamental values is to foster working relationships with its suppliers that
are based on trust. Synechron has shown its commitment to building a long-term
partnership with us," added Roger Oehen, in charge of the SFR project at SIX.
About SIX
SIX operates the infrastructure underpinning the Swiss financial sector and
offers a comprehensive range of services around the world in the fields of
securities trading and settlement, financial information and payment
transactions. The company is owned by its users (approximately 130 banks of
various orientation and size). Its workforce of over 4,000 employees and
presence in 25 countries throughout the world generated operating income of CHF
1.8 billion and a Group net profit of CHF 221.1 million in 2016.
www.six-group.com
About Synechron
Synechron is a global consulting and technology organization providing
innovative solutions to the financial services industry through its three main
business focus areas: digital, business consulting, and technology. Based in New
York, the company has 18 offices around the globe, with over 8,000 employees
producing more than $500M in annual revenue. If you would like to find out more
about the company, please visit the website or our LinkedIn community.
For any further information please contact:
SIX Group Contact
Jürg Schneider
Deputy Head Media Relations
pressoffice(at)six-group.com
Tel.:+41 58 399 2129
Synechron USA
Diana Kearns-Manolatos
Senior Director, Marketing
Diana.kearns(at)synechron.com
m: +1 347-721-8223
Synechron Europe
Karin Bendayan
Marketing Director
karin.bendayan(at)synechron.com
Tel: + 33 1 42 65 92 54
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Synechron via GlobeNewswire
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