Macquarie Transitions Calypso Trading Platform to the Cloud

Macquarie Group has successfully migrated its core trading and settlement system, Calypso, to the public cloud, completing the transition over a single weekend. Calypso, a commercial off-the-shelf solution developed by NASDAQ, handles currency settlements across the entire group and supports front-to-back trading activities. The existing version of Calypso was outdated, having been designed before the advent of cloud architecture, and was running in a data center that was set to shut down. In light of this, Macquarie Group opted to transition Calypso to Amazon Web Services (AWS) cloud infrastructure, following a similar migration path for other critical applications, including its SAP core banking system.

Justin Buckland, program manager of commodities and global markets post-trade technology at Macquarie Group, emphasized the “mission-critical” nature of Calypso, which necessitated a flawless migration process for the project to be deemed successful. “We wanted to get ourselves into an evergreen position, which means being on the current versions so we can start to take advantage of what is offered in cloud from AWS,” he explained during the AWS Financial Services Symposium held in Sydney.

Recognizing the complexity and challenges associated with migrating a version of Calypso that was “really not built for cloud” and was highly integrated, Buckland highlighted the logistical and technological hurdles faced by the team. Preparation for the migration involved four weeks of meticulous planning and coordination among various teams, including risk management, compliance, enablement, and cyber security. This extensive groundwork culminated in a precise migration executed over a single weekend, with the team closely monitoring the go-live process down to the minute.

The outcome was remarkably smooth, as Buckland noted, “With that large risk, our mission had to be that the business didn't notice the change.” The migration went live without incident, described by Buckland as “really successful,” with minimal disruption to operations. Following this successful transition, Macquarie Group plans to upgrade its Calypso platform to a newer, cloud-friendly version to enhance its capabilities further.

In addition to migrating Calypso itself, Macquarie Group also transitioned the underlying database to AWS public cloud infrastructure, specifically utilizing Amazon Aurora. Buckland pointed out that a significant portion of the effort was dedicated to moving from an end-of-life database to Amazon Aurora, a modern cloud-native database service. The team leveraged its cloud deployment platform, Arturo, to facilitate the database migration, which has resulted in notable enhancements in monitoring and observability for the Calypso system.

Craig Edwards, Macquarie's domain architect for commodities and global markets platform strategy, noted that the migration of Calypso to the public cloud has significantly improved the team's monitoring and observability capabilities. This advancement enables the team to quickly identify and address issues, enhancing overall operational efficiency and responsiveness. By shifting to a cloud-based infrastructure, Macquarie Group has positioned itself to embrace future technological advancements, ensuring that its systems remain agile and capable of adapting to the evolving needs of the market.

The successful migration also underscores Macquarie Group's commitment to harnessing cloud capabilities to optimize its trading and settlement operations. By leveraging the power of AWS, the bank can access innovative tools and features that facilitate better performance, scalability, and integration across its systems. This strategic move not only strengthens Macquarie’s operational framework but also reinforces its competitive edge in the financial services industry, allowing the bank to deliver enhanced services and experiences to its clients.

In summary, the migration of Calypso to the cloud exemplifies Macquarie Group’s proactive approach to modernizing its technology infrastructure. The improved monitoring and observability provided by the cloud solution are expected to translate into more efficient operations, reduced downtime, and a greater ability to respond to market changes swiftly. As the bank continues to evolve in the digital landscape, it is well-equipped to meet the challenges of the future while maintaining high standards of service delivery and operational excellence.