EADS picks Calypso for treasury management
EADS, the European aerospace and defence firm, has selected Calypso’s system to help it manage treasury operations.
The deal replaces an existing legacy system, and is intended to support activities in FX, equities, fixed income, FX derivatives, credit derivatives and interest rate derivatives.
Because EADS’ deals with customers across the globe, often involving forward contracts for delivery of its products – for example, it can take many years from signing of a contract to delivery of the last unit of an order for aircraft – there is heavy use of treasury operations, as well as cash management, liquidity and credit risk.
Andreas Drabert, vice president Treasury Controlling at EADS said that demand for technology solutions such as Calypso’s were likely to increase among non-financial companies.
“As an outcome of the financial crisis, industrial corporates are taking a much more cautious view on credit and liquidity risk management than ever before.”