Enhanced solution significantly reduces the amount of time, risk and resources clients need for multilateral SA-CCR optimization

NEW YORK–(BUSINESS WIRE)–Capitolis, the technology company reimagining capital markets, has completed its thirteenth Standardized Approach for Counterparty Credit Risk (SA-CCR) run this year, marking the first multilateral exercise completed within a single day. A single-day execution is a momentous one for multilateral optimization, allowing for increased network participation despite volatile and uncertain markets and the resource constraints among participants. 

Same-day execution greatly reduces clients’ time, risk and resources associated with optimization exercises, which can normally take up to 5 days. Capitolis’ latest enhancement to its portfolio optimization technology establishes a new benchmark for front-to-back execution timelines in the complex capital optimization space. The single-day exercise enabled clients to schedule an additional run in a busy quarter-end and during a volatile month in the market.

“The optimization market still operates, in general, over multiple days and up to one week, the way it has been for the past 20 years. This process takes too long, introduces too much risk to the banks and takes too many resources,” said Gil Mandelzis, CEO & Founder, Capitolis. “We believed in the vision of same-day, electronic and ultimately on-demand optimization, and this milestone achievement is a big step forward in the realization of our vision. Working closely with our clients, we have been able to make significant progress following the rollout of SA-CCR and we look forward to continuing to build upon bringing increased optimization efficiency and flexible options to the market.”

The SA-CCR framework, which seeks to normalize and standardize the capital requirements on derivatives portfolios for financial institutions, has been phased in globally over the past few years to provide a uniform way to calculate counterparty credit exposures. Capitolis has been innovating with its customers to manage SA-CCR counterparty exposures and capital requirements both in preparation of the SA-CCR rollout and following its implementation.

“Offering a single-day SA-CCR optimization exercise is an industry first and enables us to respond to market needs when it’s most needed,” said Ben Townson, Head of Product for Portfolio Optimization, Capitolis. “We’re excited to continue rolling out optimization services to advance our goal of creating a healthier, safer marketplace.”

Earlier this year, following Capitolis’ strong first half of 2022, the company was named “Best Compression/Optimization Service for FX” at the June 2022 FX Markets e-FX Awards, which seeks to recognize firms that have set the bar in electronic foreign exchange trading with skill, dedication, and creativity.

Fintech company ranks in top 100 Best Places to Work in New York City for 2022

NEW YORK–(BUSINESS WIRE)–Capitolis, the technology company reimagining financial markets, headquartered in New York City, announced today its inclusion in the Crain’s New York Business ranking of the 100 Best Places to Work in New York City for 2022.

Crain’s partnered with Best Companies Group, an independent research company, to gather the inputs and provide the final rankings. The rankings are based on an employee engagement and satisfaction survey (75% of the rating) and an employer questionnaire on benefits and policies (25% of rating).

“We are honored to be ranked on Crain’s Best Places to Work in New York City,” said Gil Mandelzis, CEO & Founder, Capitolis. “This honor is a true testament to our employees that are helping build and operate a company that is good for financial markets and good for our communities, working with purpose and intention in everything we do. I am extremely proud of our team’s accomplishments and dedication as we continue to grow.”

The employee survey explores engagement satisfaction as it relates to leadership, corporate culture, work environment, training, development, pay, benefits, and employee experience, among other factors. This is the 15^th year of the study, which considers a wide array of industries throughout the New York area.

“Our people share a common set of core attributes – being Super Smart, Badass, Good Humans. This recognition as a Best Place to Work in New York City is due to our team’s commitment to putting our Company Values and People Attributes into practice every day,” said Jen Vanderwall, Chief People and Culture Officer, Capitolis. “Capitolis is all about leading with purpose while creating exceptional value, and we are proud to be an employer of choice in New York City.”

Capitolis team members play tough, with heart, and are both obsessed with the future and fanatical about executing today. For more information on Capitolis’ Company Values, please visit https://capitolis.com/capitolis-company-values/.

Head of Europe/Portfolio Optimization, Ben Tobin, joins panel to discuss impacts of uncleared margin rules, SA-CCR on FX trading desk and market structure.

Visit booth #5 to see what innovations Capitolis is bringing to the market around reduction of UMR margin and SA-CCR as well as Dealer to Client optimization

NEW YORK–(BUSINESS WIRE)–Capitolis, the technology company reimagining financial markets, will join TradeTech FX, the largest buy side FX event in Europe. This is the first year Capitolis will have a presence on the ground at the event.

Ben Tobin, Capitolis SVP, Head of Europe/Portfolio Optimization, will join a panel of FX industry leaders on Wednesday, 9/28, at 12:55 local time to discuss how uncleared margin rules (UMR) and the Standardized Approach for Counterparty Credit Risk (SA-CCR) have impacted the FX trading desk and market structure – and share predictions for how it could influence other FX products in the future.

“We’ve been a partner and provider of optimization services to banks, hedge funds, and real money managers over the past five years,” said Ben Tobin, Capitolis SVP, Head of Europe/Portfolio Optimization. “We’ve already helped our customers reduce trillions of notional since the beginning of 2022, including optimization between the banks and their diverse client base.”

TradeTech FX attendees can visit booth #5 to discuss what innovations Capitolis is bringing to the market around UMR margin, SA-CCR, and Dealer to Client optimization; learn more through product demos; and speak to Capitolis leaders, including Ben Tobin and Evelina Rosenstein, on the ground in Amsterdam.

Since the launch of Capitolis’ brand-new technology-powered multilateral SA-CCR optimization service in early 2022, the service has been adopted by 12 of the world’s largest banks and has been heralded as a leading source of SA-CCR-based capital requirement solutions.

Capitolis’ focus for the remainder of the year is onboarding a broader range of banks, hedge funds, and asset managers to their planned optimization exercises and continuing to expand benefits to the broader network. Advances to algorithms will drive better results for existing and new clients.

Earlier this year, Capitolis was named “Best Compression/Optimization Service for FX” at the June 2022 FX Markets e-FX Awards, which seeks to recognize firms that have set the bar in electronic foreign exchange trading with skill, dedication, and creativity.

Varjacques brings over 30 years of senior executive and board member experience in financial technology.

Capitolis, the technology company reimagining capital markets,  announced the appointment of Gerard Varjacques as Head of Sales and executive team member. Building from a solid foundation and strong pipeline, Varjacques will scale the sales organization to the next level of client coverage, acceleration, and growth.

“Gerard has the growth mindset, experience, do-er focus, and understands our domain and product set to make immediate impact to further accelerate our progress,” said Gil Mandelzis, CEO & Founder, Capitolis. “My relationship with Gerard began over a decade ago when he joined Traiana to run Sales, and later to lead Sales at EBS BrokerTec with me. In both cases he brought the sales organizations to their greatest successes, and I look forward to his contributions at Capitolis.”

Varjacques is a seasoned sales leader with a proven track record for building world-class teams with a laser-focus on execution and revenue growth. Recently, Varjacques served as Global Head of Sales at M Science, a data-driven research and analytics firm uncovering new insights for leading financial institutions and corporations, and previously, he ran Sales at EBS BrokerTec, Traiana, and also served as the CEO of GL TRADE Americas, one of the world’s leading trading solutions.

“I am honored to join Gil and the entire Capitolis team as we build towards our next phase of growth,” said Gerard Varjacques. “I am committed to taking our sales engine to the next level of focus to capitalize on the pipeline volume as we bring meaningful value to our customers.”

Capitolis recently raised $110 million in Series D funding, driven by the rapid emergence and market acceptance of its compression and marketplace solutions. The company continues to make people one of its most critical investments, hiring across the business to support the rapid growth and scale of the company for its future ahead.

Annual program focuses on supporting human service organizations
Capitolis is also taking a stand to support ending gun violence through its platform

Capitolis, the technology company reimagining capital markets, announced its third annual Capitolis Connects, a program focused on supporting national and local human service organizations. For the month of June, Capitolis will donate a portion of all transactional revenue from its platform to national and local human service organizations selected by their employee base. Employees of Capitolis will also personally volunteer their time at each of these local organizations.

With its purpose-driven culture, Capitolis is leveraging its platform to provide for organizations dedicated to helping those most in need. Here are this year’s organizations:

• Covenant House, New York – Covenant House helps transform and save the lives of more than a million homeless, runaway, and trafficked young people in the New York area;
• Compliments of The House, London – Compliments of the House is a food redistribution charity in London that collects fresh, surplus food and delivers it to vulnerable individuals and families;
• Notnim BeAhavah, Tel Aviv – Notnim BeAhavah “Giving with Love” is just that: giving to those who are in need, as equals and from love. Helping a child who’s in a state of risk, aiding families who are below the poverty line, being there for the lonely elder and turning Israel into a better place.

In addition, with the continual gun violence that plagues America’s streets and schools, Capitolis is also taking a stand on behalf of organizations that support ending gun violence from every angle. Capitolis is donating to two of these at the forefront of those efforts:

• Gun By Gun – Helps mobilize community-led gun buybacks, taking dangerous guns out of circulation.
• The Brady Plan – 100% of donations go to fund the Brady Plan and their 12-point agenda committed to delivering lifesaving change and comprehensive solutions to people across the country.

“We focused our contributions on the area of Human Services, which carries deep meaning and alignment with our values. When you believe in change, and take action, that’s when progress begins to happen. At Capitolis, we are committed to this responsibility which is why we started Capitolis Connects,” said Gil Mandelzis, CEO and founder of Capitolis.

“Covenant House is extremely grateful for the support from partners such as Capitolis to help provide essential food, shelter, medical attention, and more to our young people that we believe in,” said Tod Monaghan, SVP, Key Partnerships at Covenant House.

“The COVID-19 pandemic has been an extremely difficult time for many people, and it has especially been tough on those who are unable to access food from places like supermarkets and restaurants,” said Sinéad Browne, founder and CEO of Compliments of The House. “We greatly appreciate the support from Capitolis to keep our efforts afloat and help those in need during this time.”

Thanks to the efforts of Capitolis’ clients and employees, tens of thousands of dollars were raised in the first two years of Capitolis Connects. Capitolis will be hosting two events in July to celebrate Capitolis Connects and award each organization with their respective donations.

For more information on Capitolis Connects, visit https://capitolis.com/capitolis-connects/.