Calypso Technology, a capital markets platform provider, has announced that Chile-based Banco Penta has licensed its technology so that the bank can process interest rate derivatives front-to-back.

Based in Santiago, Chile, Banco Penta specializes in capital markets, financing, asset management and corporate finance for private banking, corporate and institutional clients, Calypso and the bank said in a statement.

“Recently, Banco Penta has undertaken an aggressive expansion in the capital markets space, focusing on sophisticated financial products such as interest rate and currency derivatives, with the plan of doubling revenue year after year for the next five years,” the statement said.

Banco Penta will use Calypso software as the foundation for its aggressive expansion in the interest rate and currency derivatives business. The system will support the main local and international products, such as cross currency swaps and interest rate swaps, in foreign currency with local benchmarks such as the CLF, the Peso, the Camara and the dólar observado rate,” the statement said.