Capitolis Named Best FX Software Provider in 2023 Euromoney Foreign Exchange Awards

Capitolis’ optimization solutions help financial institutions optimize their existing portfolio by identifying unnecessary positions and eliminating them in collaboration with counterparties

NEW YORK–(BUSINESS WIRE) — Capitolis, the technology company creating safer and more vibrant capital markets, is proud to announce its recognition as the “Best FX Software Provider” in the 2023 Euromoney Foreign Exchange Awards, a hallmark of excellence within the global FX industry.

For more than 44 years, the Euromoney Foreign Exchange Survey has stood as the most comprehensive representation of the wholesale FX market. Capitolis earned this distinction in the Non-Bank Award category, reaffirming its leadership in revolutionizing financial technology solutions for banks, institutional investors, asset managers, and hedge funds on a global scale.

“We are honored to be recognized as the Best FX Software Provider of 2023,” said Gil Mandelzis, CEO & Founder, Capitolis. “This award underscores our commitment to innovation and our dedication to solving complex market challenges for our clients. It is a testament to the hard work and unwavering commitment of our team, and we look forward to continuing to innovate with the goal of reducing risk, unlocking capital efficiency, and enabling growth and prosperity for more participants.”

Capitolis earned the “Best FX Software Provider” recognition for its agility and commitment to its clients in the face of unprecedented challenges, notably following Russia’s invasion of Ukraine in 2022. Working quickly to bring together a large network of global banks, Capitolis leveraged its trade optimization platform to support a dozen banking entities to successfully reduce their exposure to Russian rubles and mitigate the impact of settlement failures due to sanctions or other market happenings.

Capitolis has now completed 15 Russian ruble exposure exercises, reduced billions in redundant, notional exposures on behalf of global banks, and donated a portion of revenues from these compression activities to Ukrainian relief and humanitarian efforts.  

Over the past few years, Capitolis has also been working closely with its clients to help them prepare for the rollout of SA-CCR, the Standardized Approach to Counterparty Credit Risk, effective January 2022. Capitolis continues to execute optimization runs for its clients, driving a reduction of hundreds of billions in SA-CCR Effective Notional to-date.

Earlier this year, Capitolis was named to CNBC’s inaugural World’s Top Fintech Companies 2023 list and to Fast Company’s prestigious annual list of The World’s Most Innovative Companies, ranking No. 2 in the Finance category.