One country, one system. From the middle of next week, mainland Chinese companies listed in Hong Kong will be allowed to prepare financial statements according to Chinese accounting and auditing standards, rather than local or global norms.

Calypso Technology, a multi-asset-class trading and risk management software company, has purchased Codefarm, whose flagship Galapagos platform allows for the construction and management of collateralized debt obligation (CDO) portfolios. Terms of the deal, announced today, were not disclosed.