Capitolis honored with two awards, including The World’s Best FX Software Provider and The World’s Best FX Technology Provider for Client Service, highlighting commitment to delivering innovative solutions for its clients

NEW YORK–(BUSINESS WIRE) — Capitolis, the technology company helping to create safer and more vibrant capital markets, has been named The World’s Best FX Software Provider by Euromoney for the second consecutive year. The company was also recognized as The World’s Best FX Technology Provider for Client Service in the 2024 Euromoney Foreign Exchange Awards , a hallmark of excellence within the global FX industry.

The Euromoney Foreign Exchange Survey has stood as the most comprehensive representation of the wholesale FX market. Capitolis has been recognized in the Overall Winner and Client Service and Support categories, highlighting its commitment to working closely with clients to understand their needs and deliver innovative solutions for both the buy-side and sell-side.

“We are honored to be recognized by Euromoney as the Best FX Software Provider and Best FX Technology Provider for Client Service,” said Gil Mandelzis, CEO & Founder, Capitolis. “This recognition reflects our unwavering dedication to our clients and the collaborative approach that we take to understand and address the specific needs of the market. Capitolis is committed to strengthening the capital markets by reducing risk, increasing stability, unlocking efficiency, and adding diversified capital to the system.”

Capitolis’ Portfolio Optimization solutions provide market participants an opportunity to reduce meaningful positions with banks and counterparties in their trading portfolios. Its fast-growing network of the world’s most important financial institutions trusts it to find innovative solutions to their most important FX optimization challenges.

Improved technology and processes allow participants to fast-track tear-ups via the Capitolis Novations platform

NEW YORK–(BUSINESS WIRE) — Capitolis, the technology company creating safer and more vibrant capital markets, announced it has successfully launched its fast-track Novations technology with the execution of a same day tear-up. Reaching this milestone—the first of its kind in the foreign exchange (FX) options market—will significantly reduce the time and resources required by banks, prime brokers, and hedge funds in the approval process.

Novation tear-ups represent a meaningful amount of novations completed on the Capitolis platform and fast-tracking trades will bring a large benefit to the market. Previously, it took up to 10 days (T+10) to complete a tear-up largely due to the manual process involved to get the novations approved by the various parties. Capitolis believes that through improved technology and processes, up to 70% of all novations can be executed at T+1 or better.

Capitolis has been working with several prime brokers, executing banks, and some of the world’s largest hedge funds on the design of this fast-track technology. It has been thoroughly tested and is now fully launched for all platform participants to leverage.

“Capitolis had already made tremendous progress in reducing risk in the market, allowing for more novations to be completed, increasing efficiency of balance sheets, and reducing gross notional for our participants. We’ve also seen massive volume growth, almost 50%, on the platform in the past year and have added many more FX prime brokers, executing banks, and major buy-side participants,” said Gil Mandelzis, CEO & Founder, Capitolis. “We now look forward to taking our network to the next level by getting as close as possible to near real-time novation processing and completion.”

“As part of our broader industry commitment to lead efficiency in the Financing and Clearing industry, we welcome this new process to significantly reduce the time and resources spent on this important FX Prime Brokerage process,” said Craig Robertson, Managing Director, Liquid Financing, Barclays.

Last year, Capitolis expanded its novation product to include agency flow, enabling automation of agency novation while maintaining anonymity. The company’s Novations platform gained strong momentum to close out 2023: Capitolis onboarded most major buy-side and sell-side market participants.

To learn more about the Capitolis Novations platform, visit https://capitolis.com/novations

Capitolis honored for second consecutive year for providing innovative, technology-based, and finance-related products and services

NEW YORK–(BUSINESS WIRE) — Capitolis, the technology company helping to create safer and more vibrant capital markets, today announced that it has been named to CNBC’s World’s Top Fintech Companies 2024 list, presented in partnership with independent research firm Statista. This marks the second consecutive year that Capitolis has been honored by CNBC on its annual list of fintechs providing the most innovative, technology-based, and finance-related products and services.

The list took into consideration key performance indicators for more than 2,000 eligible companies. In-depth research into relevant KPIs was conducted using publicly available sources such as annual reports, company websites, and media monitoring, according to CNBC.

“Capitolis’ mission is to strengthen capital markets by reducing risk, increasing stability, unlocking capital efficiency, and adding diversified capital to the system,” said Gil Mandelzis, CEO & Founder, Capitolis. “We are thrilled to be recognized on CNBC’s World’s Top Fintech Companies list for the second consecutive year for our innovative approach to building financial technology solutions that promote the safety and stability of the financial markets.”

Rooted in advanced technology and deep financial expertise, Capitolis powers groundbreaking financial solutions that drive growth for global and regional banks – and institutional investors alike. The company’s financial technology platform helps safely unlock capital constraints by enabling greater access to more diversified capital and investment opportunities, bringing more capital into the financial markets to increase its robustness, enhance risk management, and introduce efficiencies that make the financial system safer and more vibrant.

Last fall, Capitolis was also named to the 2023 Deloitte Technology Fast 500 list honoring the most innovative and fastest-growing companies across North America. The company ranked No. 68 on the list.

Meaningful PB’s, EB’s, and Clients have recently joined the platform and significant reductions in response times have been achieved

NEW YORK–(BUSINESS WIRE) — 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’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.

To learn more about the Capitolis Novations platform, visit https://capitolis.com/novations.

Capitolis will donate a portion of proceeds from next optimization exercise scheduled for mid-November

NEW YORK–(BUSINESS WIRE) — Capitolis, the technology company creating safer and more vibrant capital markets, today announced it will donate a portion of proceeds from its upcoming multilateral optimization run to support humanitarian relief efforts in Israel. The company employs 46 people in its Tel Aviv office, including much of its technology team. The upcoming optimization run is slated for mid-November.

“Anyone in the world should be mortified by the atrocious and barbaric massacre Hamas conducted on innocent civilians including children, women, and the elderly. This is not the time to sit idly by. This is the time where companies and leaders must stand up for what’s right. We must all strongly condemn this and any type of terror attack,” said Gil Mandelzis, CEO & Founder, Capitolis, and a native Israeli. “Capitolis has meaningful presence in Israel, and we will do all we can to support our team there and the many innocent people who are suffering from this horrific situation.”

Capitolis conducts ongoing multilateral optimization runs across its global bank network to manage risks stemming from market and counterparty exposures across various foreign exchange (FX) workflows. Capitolis’ Portfolio Optimization exercises deliver significant reductions in exposures calculated under SA-CCR and additional objectives.

To learn more about Capitolis’ Portfolio Optimization solutions, visit https://capitolis.com/portfolio-optimization/.

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.

NEW YORK—Capitolis, the technology company creating safer and more vibrant capital markets, today announced that it has been named one of New York’s 100 Best Places to Work in 2023 by Crain’s New York Business. This marks the second consecutive year that Capitolis has been honored by Crain’s on its annual list of the best employers in New York City.

“We are thrilled to be honored as one of the Best Places to Work in New York City for the second consecutive year,” said Gil Mandelzis, CEO & Founder, Capitolis. “This recognition underscores our commitment to both our employees and the communities we serve. I am proud of and thankful for our team, who bring an unwavering dedication and purpose every day to building solutions that promote the safety and stability of the financial markets.”

Crain’s, in partnership with Best Companies Group, an independent research firm, determined the rankings by conducting extensive employee surveys and audits of benefits, human resources, policies, perks, and corporate culture factors that define a company as an outstanding workplace. 2023 marks the 16^th iteration of the annual rankings, which evaluates organizations based on an employee engagement and satisfaction survey (75% of rating) and an employer questionnaire on benefits and policies (25% of rating).

“We have a clear vision and strong values – and this recognition as a top New York City employer is a testament to our people, who demonstrate these values every day,” said Jen Vanderwall, Chief People and Culture Officer, Capitolis. “Employees know how their work contributes to the success of the company, and also cite our world class team, collaborative environment, and developmental managers as top reasons they love working for Capitolis. We are laser focused on achieving our audacious goals, and I look forward to our continued growth.”

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

For more information on Capitolis’ Company Values, please visit https://capitolis.com/capitolis-company-values/. 

NEW YORK—Capitolis, the technology company enabling safer and more vibrant financial markets, has been named to CNBC’s inaugural World’s Top Fintech Companies 2023 list, presented in partnership with independent research firm Statista. The World’s Top Fintech Companies 2023 list identifies fintechs providing innovative, technology-based, and finance-related products and services.

The list took into consideration key performance indicators from 1,500 companies. In-depth research into relevant KPIs was collected for a previously compiled longlist of eligible companies using publicly available sources such as annual reports, company websites, or newspaper articles, according to CNBC.

“It’s an honor to be recognized on CNBC’s inaugural World’s Top Fintech Companies list for our innovative approach to building solutions that promote the safety and stability of the financial markets,” said Gil Mandelzis, CEO & Founder, Capitolis. “This is a testament to the great progress we are making, working in close collaboration with market participants globally, as we continue to expand our suite of solutions targeted at our mission to make financial markets safer, healthier, and more accessible.”

One of Capitolis’ most important achievements in the past year has been leveraging its multilateral optimization technology to support global banks through an unprecedented crisis: Russia’s invasion of Ukraine, and the impact on bank exposures to the Russian ruble in 2022. Capitolis acted quickly to bring together a large network of global banks and, through its trade optimization platform, supported 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.

In March 2023, Capitolis was also named to Fast Company’s prestigious annual list of The World’s Most Innovative Companies, earning the standing of No. 2 in the Finance category.

Most recently, Capitolis announced significant momentum in its Portfolio Optimization business in the first half of 2023.

Capitolis’ proprietary technology optimizes risk-weighted assets and funding requirements for the OTC FX market to mitigate counterparty credit risk across global banks

NEW YORK–(BUSINESS WIRE) — Capitolis, the technology company creating safer and more vibrant capital markets, announced it is connecting to LCH’s FX Smart Clearing solution. This will add another layer of optimization benefits to help banks overcome the challenge of increased costs resulting from the introduction of the Standardized Approach to Counterparty Credit Risk (SA-CCR) and other risk measures in the FX industry, particularly relating to FX forwards, FX swaps and cross-currency swaps.

In collaboration with LCH ForexClear, part of London Stock Exchange Group’s post trade division, Capitolis’ innovative post-trade optimization technology helps find the optimum capital and funding state between cleared and uncleared markets by moving optimized trades where they best fit.

In a proof-of-concept with nine global banks, Capitolis demonstrated the benefits in capital and funding that FX Smart Clearing would provide to the company’s existing SA-CCR optimization service. It reached a network yield of 42% of total funding costs including the funding of capital.

“Combining FX Smart Clearing with our post-trade optimization technology is the ideal approach to managing capital for our customers,” said Gil Mandelzis, CEO & Founder, Capitolis. “The relationship with LCH ForexClear, coupled with our network of participating global banks, is a sophisticated and advanced model for the industry, bringing multi-lateral optimization to the next level by including a clearing node.”

“We are pleased to work with Capitolis,” said James Pearson, Head of LCH ForexClear. “Through this initiative, more market participants can benefit from FX Smart Clearing, enabling capital and funding
requirement benefits under SA-CCR. FX Smart Clearing is another tool we are providing for banks to financially optimize their resources, unlock capital constraints and help to ensure a safe and efficient financial system.”

Following the proof-of-concept, Capitolis will roll out the service in conjunction with LCH ForexClear to reduce capital burdens and balance margin requirements for global banks. With this functionality, Capitolis hopes to add additional banks into future FX Smart Clearing exercises, increasing the benefit for all.

Annual program focuses on supporting human service organizations in New York, London, and Tel Aviv

NEW YORK–(BUSINESS WIRE) — Capitolis, the technology company creating safer and more vibrant capital markets, announced its fourth annual Capitolis Connects, a program focused on supporting local human service organizations in New York, London, and Tel Aviv doing innovative and impactful work to serve these communities. For the month of June, Capitolis will donate a portion of all transactional revenue from its platform to local human service organizations selected by each local 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. This year, Capitolis is supporting the following 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;
• Coalition for the Homeless – Grand Central Food Program, New York – The Grand Central Food Program, part of Coalition for the Homeless, was founded in 1985 the day after a homeless woman died of starvation in Grand Central Terminal. They deliver approximately 1,000 hot, nutritious meals to homeless and hungry individuals and families on the streets of NYC every night of the year;
• 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.

“At Capitolis, we remain committed to giving back to our communities and to help those who need it most. We are proud and extremely excited to continue Capitolis Connects and work with our selected human service organizations this year,” said Gil Mandelzis, CEO & Founder, Capitolis. “These organizations are near and dear to our hearts. We look forward to continuing to support meaningful causes through acts of service.”

“We are grateful to continue to work with our longstanding partner Capitolis to help provide essential needs and promote awareness of critical issues related to youth homelessness,” said Tod Monaghan, SVP, Key Partnerships, Covenant House. “Their contributions are truly making a difference for many young people in need in New York.”

“We greatly appreciate the support from companies such as Capitolis, who believe in giving back to their communities and serving vulnerable individuals and families,” said Sinéad Brown, CEO & Founder, Compliments of The House. “The continued support makes a true difference in the lives of those without access to fresh food.”

Thanks to the efforts of Capitolis’ clients and employees, over one hundred thousand dollars have been raised in the first three years of Capitolis Connects. Capitolis will be hosting three events across each of its markets in New York City, London, and Tel Aviv to honor these human service organizations.

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

Reduces $341 billion in SA-CCR Effective Notional across global bank network in record-breaking 26^th multilateral optimization run

NEW YORK–(BUSINESS WIRE) — Capitolis, the technology company helping to create safer and more vibrant capital markets, has gained significant momentum in its Portfolio Optimization business in the first half of 2023. The company’s latest optimization run drove a record reduction of $341 billion in SA-CCR (Standardized Approach for Counterparty Credit Risk) Effective Notional and included a record number of 20 entities. The run optimized for SA-CCR as well as additional objectives while being flexible to accommodate a multitude of constraints. As the Capitolis network continues to expand, both existing and new customers are seeing increased benefits from the network effect.

“We are very pleased with the momentum our Portfolio Optimization business continues to achieve. Our algorithms are constantly improving, and the results have been better than expected,” said Gil Mandelzis, CEO & Founder, Capitolis. “We entered 2023 with the goals of expanding the size of our participating network to drive more value for all participants, introducing innovation to further streamline the execution process, and launching additional optimization opportunities. Our latest run concentrated on SA-CCR and additional objectives, with record-breaking results and a record number of participants, is a further advancement toward these goals.”

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 last few years to provide a uniform and standardized method by which financial institutions will be required to measure exposures and ultimately manage and capitalize against. Capitolis’ Portfolio Optimization exercises deliver significant reductions in exposures calculated under SA-CCR and additional objectives.

Capitolis now enables automation of agency novation while maintaining anonymity; a first of its kind for the FX options market

NEW YORK–(BUSINESS WIRE) — Capitolis, the technology company reimagining capital markets, announced a significant innovation to its groundbreaking automated novation service in foreign exchange (FX): it can now novate agency trades while maintaining anonymity. This unlocks more of the FX options market for novations by including agency flow and further helps to reduce risk, notional and capital footprint.

Agency novation is a very complex workflow. It requires maintaining anonymity throughout the entire process, and many participants are involved. For these reasons, very few agency novations have been performed up until this point. The FX industry needed a trusted partner with the experience, network and relationships throughout the entire FX options market to get this done. Capitolis is that partner.   

Capitolis worked with industry participants for over a year to understand the various market needs and develop its agency offering. The automation of agency flow novations now allows for the collapsing of nearly all boxed FX option positions and the ability to execute a novation even in the most complicated cases. 

“We challenged Capitolis to deliver technology to facilitate agency novation and they delivered,” said Marcus Butt, Global Head of Prime Services at NatWest. “The improved operational efficiencies remove much of the friction that previously impeded these novations. As a result, we anticipate clients more actively optimizing their portfolios.”

“We usually insist that our portfolio managers trade in and out with the same agency brokers, but with this new feature in the Capitolis novation platform, we no longer mandate that requirement,” said Gaurav Prinja, Head of Compression at Brevan Howard. “Now our portfolio managers have a wider liquidity pool from which to choose.”

Since launching the novation service five years ago — the first of its kind for the FX options market — volumes continue to grow. To date, Capitolis has novated over 81,000 trades and reduced total notional by over $9 trillion.

“We partnered closely with industry participants to understand their needs and delivered on them. I’m thrilled that Capitolis is the only provider that can offer agency novation,” said Gil Mandelzis, CEO & Founder of Capitolis. “Our network continues to grow, and we see huge potential as we safely expand execution opportunities within the FX options market, while further helping to reduce its risk and capital footprint.”

To learn more about the Capitolis novations solution, visit https://capitolis.com/novations.

On the heels of its security-based swap dealer registration, Capitolis’ subsidiary has submitted an application to become a registered broker-dealer in anticipation of new products

NEW YORK–(BUSINESS WIRE) — Capitolis, the technology company reimagining financial markets, announced that its subsidiary, Capitolis Global Broker Dealer LLC, has applied to become a broker-dealer. This is the next step in Capitolis’ journey to provide innovative solutions to the market in order to keep the capital markets both safe and vibrant. This application is currently being reviewed and subject to approval by the necessary regulatory bodies.

At the beginning of this year, Capitolis announced its subsidiary, Capitolis Liquid Global Markets LLC (CLGM), was conditionally registered as a security-based swap dealer (SBSD) in support of its ground-breaking equity swap financing solution. Its next pursuit in standing up a broker-dealer will allow Capitolis to launch additional products that have been in development for quite some time.

“The registration of a broker-dealer, on the back of our introduction of an SBSD, will allow us to expand our product offerings and propel our already strong momentum,” said Gil Mandelzis, Founder & CEO of Capitolis. “Both initiatives have been in the making for a very long time, led by our team and advisors, and we are exceptionally grateful for their hard work and brilliance.”   

The Company has also announced that David Lamb, Chief Compliance and Risk Officer, has informed them that he intends to retire later this year, after a successful 26-year career in various capacities across the financial services industry. David has been with the Company from the early days and led the establishment of its robust risk management and compliance infrastructure. He was also instrumental in establishing Capitolis’ SBSD and broker-dealer initiatives. David will continue to fully perform his current responsibilities until later this year while Capitolis is actively working to identify his successor.

“I’m humbled by what I’ve been able to see Capitolis accomplish over the past six years. I am proud of the robust infrastructure we have built for managing compliance and risk,” Lamb said. “It’s been amazing building innovative solutions for important parts of the capital markets infrastructure. Planning towards my retirement has been a long time in the works, and I am excited to begin that chapter of my life later this year, however I’m going to truly miss the incredible people I work with every day.”

“Dave is an incredible friend,” said Mandelzis. “He was part of the early ideation process to develop the vision for Capitolis well before we even started the company and joined us a short while after we began operating. We are grateful for all he’s done to stand up the necessary infrastructure around compliance and risk for Capitolis, along with the work he has contributed to enable our recent SBSD registration and broker-dealer application filing—both meaningful undertakings that have taken a lot of time and effort to achieve. With those behind us, I am very happy for Dave as he works toward a well-deserved retirement later this year.”

While Capitolis actively works to identify David’s successor, he will continue to fully perform his current responsibilities.

Capitolis ranks #2 in the Finance category for innovations facilitating how businesses manage their fiscal assets

New York, New York, March 2, 2023 — Capitolis, the technology company reimagining capital markets, has been named to Fast Company’s prestigious annual list of The World’s Most Innovative Companies for 2023, the premier showcase for organizations that are moving the world forward.

These companies are setting the standard with some of the greatest accomplishments of the modern world. Capitolis has earned the standing of No. 2 in the Finance category for innovations facilitating how businesses manage their fiscal assets. This year’s list highlights the businesses at the forefront of their respective industries, paving the way for the innovations of tomorrow.

“Capitolis’ mission is to strengthen capital markets by reducing risk, increasing stability, unlocking capital efficiency, and adding diversified capital to the system,” said Gil Mandelzis, CEO & Founder, Capitolis. “We are thankful to Fast Company for recognizing our unique problem-solving approach to eliminating unnecessary risk and complexity, reducing interconnectedness, and ensuring the system can thrive in its safer state for the benefit of all.”

In November 2022, Capitolis was named to Fast Company’s second-annual Next Big Things in Tech list, honoring technology breakthroughs that promise to help define the future of the industries they serve. In 2022, Capitolis was also included on Crain’s 2022 Best Places to Work in New York City list and 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.

The World’s Most Innovative Companies is Fast Company’s signature franchise and one of its most highly anticipated editorial efforts of the year. It provides a firsthand look at the inspiring and innovative efforts of companies across all sectors of the economy. Fast Company’s editors and writers sought out the companies making the biggest strides around the globe.

“What a strange and thrilling year it has been to honor this year’s Most Innovative Companies. This year’s list compiles some of the most cutting-edge groundbreakers who are changing our world every single day, from legacy organizations like McDonald’s to upstarts like MrBeast and institutions such as NASA. Everyone on this list does something completely, uniquely different, yet, they all have one thing in common: innovation,” said Fast Company editor-in-chief Brendan Vaughan.

Growing network delivers over $290 billion in SA-CCR effective notional reduction for participants

NEW YORK–(BUSINESS WIRE)–Capitolis, the technology company reimagining capital markets, completed its nineteenth Standardized Approach for Counterparty Credit Risk (SA-CCR) optimization in January, with this latest run incorporating a record number of entities, driving a record reduction of over $290 billion in effective notional. This marks another momentous occasion for Capitolis as its Portfolio Optimization business enables both new and existing clients to reap the benefits of the network. Over the last 12 months, Capitolis has enabled a $2.5 trillion reduction in SA-CCR effective notional.

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 continues to innovate with its customers for market needs, making it easier for more participants to join and execute optimization runs while increasing the network effect and benefits for all. As SA-CCR stays top of mind for the industry, Capitolis works hand in hand with each of its clients to deliver on their objectives.

“We are excited by this latest milestone and the overall momentum of our business,” said Gil Mandelzis, CEO & Founder, Capitolis. “Our latest SA-CCR run marks another historic achievement for Capitolis. As we build solutions that promote the safety and stability of the capital markets, we are extremely focused on continuing to deliver meaningful capital benefits in an efficient and timely manner and look forward to introducing more innovative solutions to the market.”

Capitolis’ Portfolio Optimization business has experienced tremendous growth over the past year. Their plan for 2023 is to focus on expanding the size of their network to drive more value for all participants, introduce new innovation to further streamline the execution process and launch additional, new optimization opportunities.

The fintech company registered an SBSD on January 4th

NEW YORK–(BUSINESS WIRE) — Capitolis, the technology company reimagining financial markets, officially announced that its subsidiary, Capitolis Liquid Global Markets LLC, is conditionally registered as a security-based swap dealer (SBSD) as of January 4th. The company’s ground-breaking equity swap financing solution will operate within this structure.

Capitolis was established six years ago to enhance the safety, stability, and vitality of the financial markets. Capitolis’ solutions bring in additional capital to support the financial markets and eliminate unnecessary risk and complexity, so that the system can thrive for the benefit of all. Registering a security-based swap dealer is an additional way, and the next step, in which Capitolis will continue to bring its mission to life.

“After close to a year in the making, we are pleased to have registered a security-based swap dealer,” said Gil Mandelzis, Founder & CEO of Capitolis. “Capitolis looks forward to continuing to fulfill the needs of our clients by building solutions that promote the safety of the system, unlock capital efficiency, and enable growth and prosperity for all.” 

Capitolis has experienced exceptional momentum coming into 2023 and continues to support the financial markets with diversified capital, ensuring a vital and healthy ecosystem for all.

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.

Recent progress includes growing the network to 70% of the largest global banks and driving over $1.4 trillion in savings since the beginning of the year, with increasing benefit every month

Capitolis the technology company reimagining capital markets, has gained strong momentum by doubling the number of banks taking part in its Standardized Approach for Counterparty Credit Risk (SA-CCR) runs since the beginning of 2022. Capitolis has maintained a frequent cadence of compression runs, helping this strong network of global banks reduce over $1.4 trillion in SA-CCR effective notional since the beginning of the year. Capitolis’ momentum was apparent in its recent SA-CCR run which provided clients five times the effective notional benefit than they received in the first run. The network continues to expand and both existing and new clients are seeing increased benefits from the network effect.

After a strong first half of the 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.

“The last 6 months at Capitolis have been exciting and fast-paced as the industry adapts to the rollout of SA-CCR, and we have seen great momentum in our business over a short period of time,” said Gil Mandelzis, CEO & Founder, Capitolis. “We are growing our network every month and our pipeline is extremely strong. We are looking forward to rolling out additional optimization services to our growing community over the next few months further supporting healthy and safe markets.”

The new SA-CCR framework, the primary capital and leverage measure for much of the financial industry, has been phased in globally over the last few years to provide a single, standardized method by which financial institutions will be required to measure exposures and ultimately manage and capitalize against. Capitolis’ optimization exercises are delivering significant reductions in exposures calculated under SA-CCR.

“Capitolis has been a trusted partner helping us appropriately manage our regulatory requirements and free up capital through our portfolio optimization runs with them,” said Tobias Krause, Senior Managing Director, State Street.

Capitolis’ focus for the remainder of the year is on introducing new innovations to enhance its offering, with the goal of expanding its network of participants. Advances to algorithms will drive better benefits for existing and new clients under SA-CCR.