Assignment text
Danmarks Nationalbank is the central bank of Denmark and is a self-governing, independent institution. Danmarks Nationalbank's 3 main objectives are to contribute to ensuring stable prices, safe payments and a stable financial system. Danmarks Nationalbank is banker to the banks. A number of financial institutions hold accounts with Danmarks Nationalbank, which are used for e.g. transferring money among the institutions. Danmarks Nationalbank uses several systems for transfer and settlement, such as Kronos2 and Target2. Calypso is the part of Kronos2 that is used for collateral management in the area of monetary policy. It is also Danmarks Nationalbank's Front-Middel-Back-office system. As a result of a change in the IT Strategy, Danmarks Nationalbank has decided to let the Calypso system be hosted as a SaaS cloud solution. To ensure this process, several contracts are to be entered into with Calypso Technology Inc.