AIB / Calpso case study

The First Derivative Calypso Team have been working with AIB for over 7 years now. First Derivative was the primary implementation partner on the clients migration from OPICS to Calypso (across three major releases) – at the time it was the largest calypso implementation on-going in Europe.

During this implementation an upgrade was also undertaken from Calypso v14 to Calypso v15 and in parallel First Derivative also assisted the client in successfully the bringing new Security Finance business into Calypso. Following these successful initiatives the client has also engagement First Derivative to manage their calypso production support via a managed service.

In late 2022, AIB partnered with First Derivative to upgrade from v16 to v17. One of the first calypso v17 upgrades undertaken globally.

Results

Primary improvements to AIB following upgrade as follows.

• New UI Margin implemented, allowing AIB to monitor their IM exposure through new web interface.
  • The new UI also allows applying tolerances for warnings/breaches so the bank can see how close they are to
    their threshold which would trigger the exchange of collateral.
  • The new UI also allows simpler updates for Margin accounts, which replaces v15 functionality to update via csv
    and scheduled task.
• New Compliance Module
  • Big improvement in the new module in v17 vs that in v15. The new module allows AIB to re-build their eligibility checks on Triparty Collateral in a much more straightforward manner. Many complex and over complicated AND/OR functions have been replaced with stream-lined rules. The move into this new module is also the first steps towards having all eligibility and concentration checks in one place (rather than relying on liquidity module).
• Bloomberg Module
  • New ability for user to apply set own columns in own static requests to Bloomberg.
  • Ability to set desired feed source for quote data relating to the security. This is also available via Bloomberg Update.
• Access Permissions
  • More granular now, in particular around task station and workflow permissions. User profiles can be more specialised also.

Conclusion

In just over seven months, the First Derivative team assisted the client in an extremely challenging and aggressive initiative to upgrading the Calypso instance at AIB. It successfully went live within the clients desired timelines and at the time become the first client in the world to be live on version 17!!