Meaningful PB’s, EB’s, and Clients have recently joined the platform and significant reductions in response times have been achieved
Capitolis, the technology company creating safer and more vibrant capital markets, has onboarded most major buy-side and sell-side market participants to its FX novations platform. The company is working to improve novation solutions, drive automation, and reduce response times. Capitolis has worked alongside participants to reduce response times by more than half already this year.
Capitolis’ Novations platform, the only FX novation platform on the market, helps drive efficiencies, safely expanding execution opportunities within the FX market and further reducing its risk and capital footprint. Capitolis automates the once manual novation process for all participants, including prime brokers, executing banks, hedge funds, and real money managers, to optimize FX options portfolios. With the continued implementation of regulations including the upcoming Basel III Endgame, market participants will have even greater pressure to be more efficient with their portfolios. The automated novation capability will be essential in helping them achieve this.
“We continue to partner with both buy-side and sell-side participants to understand and deliver on their needs, and we see huge potential for the industry solution we’ve developed for novations.”
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“We’ve seen great benefit in bringing most major market participants together on one automated novation platform, and many that weren’t participating in the past are now actively engaged on the platform,” said Gil Mandelzis, CEO & Founder, Capitolis. “We continue to partner with both buy-side and sell-side participants to understand and deliver on their needs, and we see huge potential for the industry solution we’ve developed for novations.”
“We are pleased to be working with the Capitolis Novations platform. The platform’s innovative approach to buy-side and sell-side collaboration offers us the ability to optimize our operations in a secure setting and enhance our overall efficiency,” said Nathaniel Litwak, Global Head FX Prime Brokerage, BNP Paribas.
Capitolis continues to grow the network of bank and non-bank customers on its FX novations platform, providing scale to facilitate higher novation volumes and optimize FX options portfolios. Capitolis can execute a novation even in the most complicated cases. Earlier this year, the company announced a significant innovation to its groundbreaking automated novations service in FX: automation of agency novations while maintaining anonymity, a first of its kind for the FX options market.
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