Technology tamfitronics
Financial technology firm Capitolis has introduced new technology to reduce the time and resources needed for banks, brokers, and hedge fund firms in approval processes. The company announced today that it has achieved a milestone in executing same-day tear-ups for FX options.
Efficiency in FX Options
This technology reportedly reduces the time and costsneeded by banks, prime brokers, and hedge funds in the approval process.Traditionally, completing a novation tear-up, a term referring to terminatingor canceling an existing contract and replacing it with a new one, could takeup to 10 days due to the manual approval steps involved.
Capitolis‘ new technology aims to lower this time downto T+1 or better for up to 70% of all novations. Working in collaboration withseveral prime brokers, executing banks, and major hedge funds, Capitolis hasdesigned and rigorously tested the fast-track technology.
The new system is reportedly fully operational andavailable to all participants on the Capitolis platform. Last year, Capitolisexpanded its novation product to include agency flow, allowing for theautomation of agency novation while maintaining participant anonymity.
Gil Mandelzis, CEO and Founder of Capitolishighlighted the platform’s impressive progress: Capitolis had alreadymade tremendous strides in reducing market risk, enabling more novations, andenhancing balance sheet efficiency for our participants. Over the past year,we’ve seen a nearly 50% increase in volume on the platform and added many newFX prime brokersexecuting banks, and significant buy-side participants.
Removing Capital Constraints
This expansion added momentum to the novationsplatform, enabling it to onboard most major buy-side and sell-side marketparticipants by the end of 2023. Capitolis aims to ensure financialmarkets work for everyone by removing capital constraints and providing greateraccess to diversified capital and investment opportunities.
Combining advanced technology with deep financialexpertise, Capitolis develops innovative financial solutions that drive growthfor global and regional banks and institutional investors. The company enjoysrobust backing from top venture capital firms and leading global banks,including JP MorganCiti, and State Street.
Last year, Capitolis disclosed plans to expand its novations platform. This new platform, which seeks to optimize investors portfolios by replacing existing contracts with new ones, has reportedly added key buy-side and sell-side market players. The platform aims to enhance the needs of prime brokers, executing banks, hedge funds, and money managers.
Financial technology firm Capitolis has introduced new technology to reduce the time and resources needed for banks, brokers, and hedge fund firms in approval processes. The company announced today that it has achieved a milestone in executing same-day tear-ups for FX options.
Efficiency in FX Options
This technology reportedly reduces the time and costsneeded by banks, prime brokers, and hedge funds in the approval process.Traditionally, completing a novation tear-up, a term referring to terminatingor canceling an existing contract and replacing it with a new one, could takeup to 10 days due to the manual approval steps involved.
Capitolis‘ new technology aims to lower this time downto T+1 or better for up to 70% of all novations. Working in collaboration withseveral prime brokers, executing banks, and major hedge funds, Capitolis hasdesigned and rigorously tested the fast-track technology.
The new system is reportedly fully operational andavailable to all participants on the Capitolis platform. Last year, Capitolisexpanded its novation product to include agency flow, allowing for theautomation of agency novation while maintaining participant anonymity.
Gil Mandelzis, CEO and Founder of Capitolishighlighted the platform’s impressive progress: Capitolis had alreadymade tremendous strides in reducing market risk, enabling more novations, andenhancing balance sheet efficiency for our participants. Over the past year,we’ve seen a nearly 50% increase in volume on the platform and added many newFX prime brokersexecuting banks, and significant buy-side participants.
Removing Capital Constraints
This expansion added momentum to the novationsplatform, enabling it to onboard most major buy-side and sell-side marketparticipants by the end of 2023. Capitolis aims to ensure financialmarkets work for everyone by removing capital constraints and providing greateraccess to diversified capital and investment opportunities.
Combining advanced technology with deep financialexpertise, Capitolis develops innovative financial solutions that drive growthfor global and regional banks and institutional investors. The company enjoysrobust backing from top venture capital firms and leading global banks,including JP MorganCiti, and State Street.
Last year, Capitolis disclosed plans to expand its novations platform. This new platform, which seeks to optimize investors portfolios by replacing existing contracts with new ones, has reportedly added key buy-side and sell-side market players. The platform aims to enhance the needs of prime brokers, executing banks, hedge funds, and money managers.