New service deepens commitment to enhanced capital optimization for regulatory changes

Acadia, the leading industry provider of integrated risk management services for the derivatives community, and Capitolis, the leading SaaS platform that drives financial resource optimization for capital markets, today announced the launch of SA-CCR Optimization. SA-CCR Optimization will bring considerable cost savings to firms subject to the Standard Approach to Counterparty Credit Risk (SA-CCR) regulations, focusing on specific FX products such as FX forwards, options, deliverable swaps and cross-currency swaps.

With SA-CCR Optimization, banks and participating financial institutions provide trade data, which Acadia and Capitolis process and generate a series of FX transactions that reduce capital requirements, leaving each client’s net FX risk profile largely unchanged.

“The newest wave of capital regulation is pushing firms to be more mindful of capital consumption across their business.  SA-CCR Optimization is an opportunity for them to reduce consumption levels and deploy their capital in a more efficient manner,” says Chris Walsh, Chief Executive Officer of Acadia. “We are thrilled to provide clients with a dynamic infrastructure solution to compress trades and significantly reduce capital consumption, building upon our data analytics with Capitolis’ market-leading optimization platform.”

The launch of SA-CCR Optimization deepens the partnership between the two leaders in their fields, combining Acadia’s risk analytics and margin data platforms and Capitolis’ proprietary technology, allowing for greater capital optimization for financial institutions.

Gil Mandelzis, Chief Executive Officer and Founder of Capitolis added “Our continued integration with Acadia’s trusted platform is an effective solution for our clients to maximize efficiency in SA-CCR balance sheet optimization. Our partnership will also position the industry for success in multilateral optimization of SA-CCR.”

SA-CCR requirements for financial institutions based in some parts of Europe went into effect in June 2021, while regulations in the United States are set to be implemented on January 1, 2022.

The partnership will provide seamless access to Capitolis’ proprietary optimization technology for customers of TradeNeXus, State Street’s award-winning post-trade solution

Capitolis, the fintech company re-imagining how the capital markets operate, today announced it will deliver to customers on State Street’s TradeNeXus platform, access to identify optimization opportunities, eliminate large and unnecessary positions, and free up capital through Capitolis’ optimization, novation, and trade compression solutions. Capitolis will connect to TradeNeXus’ large network of asset managers and executing banks, who electronically match, confirm, and communicate FX and Money Market settlement information.

The announcement comes as financial institutions are increasingly leveraging optimization services to help them comply with new regulations such as Standardized Approach for measuring Counterparty Credit Risk (SA-CCR) and Uncleared Margin Rules (UMR), which will impact their operations significantly over the next year. The collaboration has the potential to affect returns on capital and drive new cost efficiencies.

“Now is an opportune time for Capitolis to enter into this collaboration with State Street’s award-winning TradeNeXus platform with forthcoming regulations on capital requirements impacting how financial institutions address their balance sheets,” said Gil Mandelzis, CEO and founder of Capitolis. “State Street has been a fantastic partner to us for years, and we are excited to accelerate our efforts to bring optimization services to more buy-side institutions. TradeNeXus has unparalleled connectivity within the buy-side community. Together, we are revolutionizing how financial institutions engage with one another.”

“With deep capital markets expertise and an innovative technology platform, Capitolis is the ideal partner to complement the TradeNeXus offering, particularly with the implementation of new regulation in the near term,” said Louisa Kwok, Managing Director and Head of Product for TradeNeXus. “Combining Capitolis’ next-gen solutions with the TradeNeXus platform will be a critical differentiator in helping our clients optimize their workflows and post-trade processes.”

The news of the collaboration follows Capitolis’ recent announcement that it entered into an agreement to acquire LMRKTS. Earlier this year, the company also announced a partnership with leading FX settlement provider CLS to streamline trading and settlement for banks in the $6.6 trillion global currency market.

• Alicia is a three-time Forbes Most Influential CMO in the World recipient.

• Her world-class marketing leadership driving brand transformation at large-scale companies will help accelerate Capitolis’ growth.

• Capitolis continues to deliver hyper-growth following a $90 million series C funding round led by Andreessen Horowitz earlier this year and recent LMRKTS acquisition.

Capitolis, the fintech company re-imagining how the capital markets operate, today announced the appointment of Alicia Tillman as its Global Chief Marketing Officer. In this role, Alicia will build Capitolis’ worldwide marketing and communications strategy to drive significant brand awareness, demand, and customer growth.

Alicia brings to Capitolis tremendous depth of leadership experience at global giants SAP and American Express. Most recently, Alicia served as Global Chief Marketing Officer at SAP. She led SAP’s global marketing strategy, re-built the organization’s digital marketing infrastructure, re-wrote the brand narrative, delivered many recognized advertising campaigns around the world, and exponentially grew the company’s brand value as one of the top 20 most valuable brands in the world.

Prior to SAP, Alicia served as Global Vice President, Marketing, Public Affairs, and Business Services at American Express, where she overhauled the travel division’s marketing strategy and designed some of their first digital programs, including the travel and payment division’s first social media platforms and marketing automation capabilities.

In addition to her role at Capitolis, Alicia is a board director for Gates Industrial Corporation, a leader in industrial and commercial manufacturing, and Rainfocus, a leading event marketing technology company. She is also a board trustee and chairperson of the education committee for The Hun School of Princeton.

“Alicia has an incredible track record of building high-performing teams in large-scale companies that deliver superior levels of company brand value, awareness, demand, and loyalty,” said Gil Mandelzis, CEO and founder of Capitolis. “Alicia is the perfect CMO to join our leadership team as we continue to innovate and deliver value to the capital markets to accelerate Capitolis’ growth.”

“Capitolis’ technology enables collaboration between banks and financial institutions at a level of efficiency never seen before, improving overall business economics and investment capacity,” said Alicia. “I’m truly inspired by the size of the company’s ambition and the incredible culture and leadership team Gil has built, and I could not be more excited to build one of the world’s most valuable brands transforming the capital markets.”

Capitolis continues to expand its leadership team with numerous strategic appointments announced over the past year, including Christopher Pennington as Executive Vice President of Sales, Stuart Wexler as General Counsel, Jimmy Reilly as Head of Equity and Total Return Swaps Funding Solutions and Jen Vanderwall as Chief People and Culture Officer.

For more information on Capitolis, please visit www.capitolis.com.

Capitolis, the SaaS-powered network that efficiently links global market participants to new sources of capital in a regulatory-sound manner, today announced that it has entered into an agreement to acquire LMRKTS, an industry-leading multilateral optimization and compression provider.

The proposed acquisition is scheduled to close in the month of August, subject to certain closing conditions. Already a market leader in bilateral compression, structured financing solutions, and novations, this proposed acquisition will allow Capitolis to provide banks, asset managers, and hedge funds with the broadest and most complete trade compression solutions available in the market.

Capitolis, which combines deep markets expertise with a Silicon Valley mindset, has a rapidly growing client roster of more than 100 leading global financial institutions. These clients utilize Capitolis’ innovative technology platform to seek out opportunities to free up capital without taking on additional risk. As part of the proposed transaction, the LMRKTS team will join Capitolis, enhancing the depth of the company’s optimization talent and its ability to bring additional capabilities, including multilateral compression, to the market. Terms of the deal were not disclosed.

“At Capitolis, we are well on our way to meeting our audacious goal of transforming capital markets, guided by the tremendous demand we continue to see from the world’s most significant providers of capital,” said Gil Mandelzis, founder and CEO of Capitolis. “With the addition of the fabulous capabilities Hilary, Sandeep, and the LMRKTS team have built, we will unlock even greater opportunities to expand our product suite and enhance our technology. Together we move one step closer to a transformed, safer, healthier, and more efficient market.”

“I am extremely proud of the company we have built at LMRKTS and very thankful to our clients and the LMRKTS team whose support has made us a leading multilateral provider in foreign exchange,” said Hilary Park, co-founder and CEO of LMRKTS. “When Sandeep Karkera and I started LMRKTS together with Lucio Biase over eight years ago, demand for network-based optimization services was just starting to accelerate. We have since seen firsthand the far-reaching impact that Capitolis has had on the marketplace over the past four years and know that as one team we will deliver truly exceptional results for our clients. Capitolis shares our vision for the future of capital markets, and we’re proud to be joining forces with them.”

“As a client of both Capitolis and LMRKTS, we are delighted to see them team up and look forward to working with the combined entity moving forward. Capitolis is bringing truly innovative solutions to capital markets, and we support the firm’s ambitious vision for the future,” said Itay Tuchman, Global Head of Foreign Exchange at Citi.

This acquisition follows Capitolis’ recent completion of a $90 million Series C funding round led by Andreessen Horowitz, as well as a string of strategic appointments over the past year, including Stuart Wexler as General Counsel, Jimmy Reilly as Head of Equity and Total Return Swaps Funding Solutions, Jen Vanderwall as Chief People and Culture Officer, and James Kibbe as Head of Structured Funding Origination.

Capitolis, the leading SaaS platform that drives financial resource optimization for capital markets, today announced the appointment of Stuart Wexler as its general counsel.

In this role, Wexler will oversee legal matters, corporate governance, and regulatory affairs, and advise senior leadership and the board of directors.

Wexler joins Capitolis with more than 25 years of legal and regulatory experience across financial services, previously serving as Group General Counsel for NEX Group (formerly ICAP), where he was responsible for the management of legal, compliance, risk, and government affairs functions globally. Prior to NEX Group and its predecessor firm, Wexler was a Managing Director and Head of Sales and Trading Compliance at Merrill Lynch, where he managed a department of compliance professionals responsible for providing compliance advisory support to the company’s Americas Sales and Trading businesses. Most recently, he served as a legal consultant for the Federal Reserve Bank of New York and was a member of the Treasury Market Practices Group for more than a decade.

“I am thrilled to work with Stu again, having seen him operate at the highest levels of professionalism and integrity over the course of his career. His understanding of the regulatory environment is unparalleled,” said Gil Mandelzis, CEO and founder of Capitolis. “Stu cares deeply about the health of the financial system and is a perfect partner for us as we reimagine the markets to become healthier, more vibrant, and safer for all participants,” Mandelzis added.

“I am excited to play a key role in growing a company that is truly transforming the industry,” said Wexler. “I joined Capitolis because I believe their vision is revolutionary and will foster a more efficient marketplace that also embraces the spirit and letter of the regulations that have been put in place over the last decade. I look forward to adding to the strong foundation that this talented team has built.”

Wexler’s hire follows Capitolis’ recent completion of a $90 million Series C funding round led by Andreessen Horowitz as well as a string of strategic appointments over the past year, including Jimmy Reilly as Head of Equity and Total Return Swaps Funding Solutions, Jen Vanderwall as Chief People and Culture Officer, and James Kibbe as Head of Structured Funding Origination.

Capitolis, the leading provider of SaaS and structured financing products that address balance sheet management for financial institutions, today announced that Novations, its foreign exchange novation platform, achieved a record transaction volume of more than $959 billion in notional for FX options novations during the first quarter ended April 30, 2021, more than doubling the volume from a year earlier.

Many financial institutions expanded their positions in the FX market during the periods of volatility brought on by the COVID-19 pandemic, and they turned to the Capitolis platform to open them up to further opportunities in the market without adding risk. Trading volumes continue to hold at record highs, making the demand for Capitolis’ analytics and tools stronger than ever across both buy-side and sell-side institutions.

“The Capitolis platform is a truly groundbreaking technology that enables the world’s leading prime brokers, executing banks, hedge funds, and money managers to more effectively interact and manage their balance sheets, unlocking the potential to completely transform how firms trade with one another,” said Ben Tobin, Senior Vice President, Global Head of FX at Capitolis. “The growth of Novations over the past year has been tremendous, and we look forward to continually expanding to support our existing and prospective clients with solutions that meet their complex balance sheet needs.”

In addition to achieving record volumes, Capitolis has added 11 clients to the Novations platform since August. These new clients, across both the buy and sell side, complement a growing roster of more than 75 leading global financial institutions currently active on the Novations platform, including NatWest, Citi, HSBC, Standard Chartered, Nomura, and Societe Generale. Since its inception nearly three years ago, Capitolis Novations has eliminated positions of more than $4.6 trillion in notional.

To support the growth of Novations, Capitolis has added key features for an improved user experience, including enhanced functionalities that simplify the movement of FX instruments between prime brokers and the larger marketplace, and advanced analytics on the status of all pending and completed novations.

The growth of Capitolis’ Novations platform follows the recent completion of a $90 million Series C funding round led by Andreessen Horowitz. Capitolis further bolstered its positioning in the FX space earlier this year, announcing a partnership with leading FX settlement provider CLS to streamline trading and settlement for banks in the $6.6 trillion global currency market.

Capitolis,the leading SaaS platform that drives financial resource optimization for capital markets, today announced an agreement with Refinitiv, one of the world’s largest providers of financial markets data and infrastructure, to enable access to Capitolis’ next-generation suite of optimization products through Refinitiv’s Trade Notification platform.

The partnership will allow leading financial institutions that leverage Capitolis’ revolutionary, proprietary technology platform to streamline their processing of FX instruments including options, swaps, forwards, and Non-Deliverable Forwards (NDFs) through a seamless connection to Refinitiv’s infrastructure for post-trade services, enabling market participants to collaborate to achieve new operational, cost, speed, and scale efficiencies.

Capitolis enables firms to optimize their balance sheet exposures through collaborative technology by eliminating unnecessary positions and finding the most suitable party to hold the remaining positions. To date, Capitolis has eliminated more than $9 trillion in overall positions for more than 75 financial institutions, including many of the world’s largest banks, as well as leading hedge funds and asset managers.

Capitolis chose Refinitiv’s Trade Notification platform given its position as the leading network connecting participants in the FX market including trading venues, brokers, liquidity providers, ECNs, and banks with guaranteed delivery. Refinitiv’s Trade Notification platform offers an unparalleled geographic reach and a client-centric model geared towards fast integration.

“We look forward to continuing our relationship with the team at Refinitiv through this partnership that will deliver greater efficiency and more seamless connectivity for our clients,” said Tom Glocer, Executive Chairman and co-founder of Capitolis, as well as former CEO of Thomson Reuters.  “As the adoption of our proprietary technology platform expands across the industry, the need for continued innovation and collaboration is crucial. I have deep roots in and affection for both Capitolis and Refinitiv, and I believe this partnership will benefit both companies and our common clients, in particular.”

“This partnership expands the functionality of Refinitiv’s trade reporting tools, enabling greater transparency and helping to foster a smarter marketplace for all participants,” said Dean Berry, Group Head of Trading and Banking Solutions for Refinitiv. “At Refinitiv, we are always open to collaboration and pleased to welcome new publishers on our network such as Capitolis, whose collaborative platform is changing the ways in which financial institutions optimize their balance sheet exposure. Our focus is to serve our community on STP and increasingly in other initiatives such as this one, which add value to our clients.”

“We are pleased to continue our partnership with Capitolis and begin leveraging this product enhancement,” said Tobias Krause, Head of Global Markets Resource Management for State Street. “The new trade notification and transaction reporting tools will increase the efficiency of our optimization exercises, which directly increases State Street’s capacity to serve our clients.”

The announcement follows a year of record growth for Capitolis, including the recent announcements of a $90 million Series C funding round led by Andreessen Horowitz, a partnership with AcadiaSoft, combining their risk analytics and repository of industrywide margin data with Capitolis’ proprietary technology platform, and a collaboration with CLS to streamline trading and settlement for banks in the $6.6 trillion global currency market.

Capitolis, the leading SaaS platform that drives financial resource optimization for capital markets, today announced the appointment of Jen Vanderwall, former people and talent leader at Bridgewater Associates, as its Chief People and Culture Officer, amidst meaningful expansion and maturation.

The news of Vanderwall’s hire comes just weeks after Capitolis announced the completion of a $90 million Series C funding round led by Andreessen Horowitz (“a16z”). As Chief People and Culture Officer, Vanderwall will be a key member of the executive team, charged with supporting the organization’s continued growth, emphasizing a dynamic culture combining innovation, collaboration, agility, and professionalism, and furthering Capitolis’ position as a premier global employer.

Vanderwall’s extensive experience in people and culture within financial services and work as an executive coach and human resources advisor are critical to support Capitolis’ success. She previously held leadership positions in human resources and talent at the world’s largest hedge fund, Bridgewater Associates, where she was a member of the firm’s core management team. At Bridgewater, she partnered with the CEO and board to oversee all people functions, assessing the strategies, plans, and progress for culture, diversity and inclusion, human resources, recruiting, and talent. During her time at Bridgewater, she also served as Chief Operating Officer, Technology, Strategy, and Incubation. Prior to Bridgewater, she worked at Mastercard Worldwide, where she served as Vice President, Prepaid Products, and at Willis Towers Watson, where she was a Senior Consultant.

“At Capitolis, we are re-imagining capital markets and the future structure of the markets that are fairer, safer, and healthier for all,” said Gil Mandelzis, CEO and founder of Capitolis. “In order to deliver on our transformative mission, we are building a global company around a thoughtful and deliberate culture, and Jen is the perfect person to lead our efforts and strengthen that culture as we grow. She brings unique insight from her years of experience with some of the world’s greatest minds, and we are ecstatic to have her join the team at this critical time for Capitolis.”

“Gil has pulled together a top-notch team, and I’m excited to partner with them to further enhance Capitolis’ strong culture and expand and develop talent to achieve the company’s goals to transform the market,” said Vanderwall. “I am thrilled to join the team and support management and the board in building a long-standing, leading FinTech company.”

With the funds from its latest investment, Capitolis intends to drive further innovation in its technology and product development, bolster customer support and sales, and grow its team from 90 employees to over 150 by year’s end. The announcement of Vanderwall’s hire follows multiple strategic appointments over the past year, including James Kibbe as Head of Structured Funding Origination, Callie Reynolds as Chief Customer Officer, Hen Lotan and Lindsey Baptiste as Chief of Staff and SVP, Global Head of Finance, respectively, and Rahul Auradkar as Chief Product Officer.

Revolutionary capital markets platform has raised $170 million to date from leading venture capital firms and some of the world’s largest global financial institutions.

Capitolis, the leading SaaS platform that drives financial resource optimization for capital markets, today announced it has closed a $90 million Series C funding round led by Andreessen Horowitz (“a16z”), a Silicon Valley-based venture capital firm that backs transformational companies and bold entrepreneurs disrupting their industries with next-generation technology.

“We launched Capitolis four years ago to fundamentally re-imagine how the capital markets operate. Just as Airbnb has brought more capacity to the lodging industry, Capitolis is bringing meaningful additional balance sheet, capital and financing capacity to the market that is structurally and meaningfully constrained to create healthier, more vibrant and growing financial markets,” said Gil Mandelzis, CEO and founder of Capitolis. “The market’s acceptance and adoption of our friendly disruptive solutions have exceeded our brightest hopes, and we are thrilled to have this significant investment and support from the world’s top technology investors and leading financial institutions to grow and expand much faster.”

“What sets Capitolis apart from other financial services players is the sheer scale of management’s ambition and the substantial talent, technology and capital milestones they have achieved in bringing their innovative services to market,” said Alex Rampell, partner at a16z. “We are proud to support Capitolis through this period of rapid growth.”

The funding round, which included participation from existing investors Index Ventures, Sequoia Capital, S Capital, Spark Capital, SVB Capital, Citi, J.P. Morgan and State Street, brings Capitolis’ total funding to date to $170 million.

Capitolis—which combines deep markets expertise with a Silicon Valley mindset—arms banks, asset managers and hedge funds across the market ecosystem with an innovative technology platform that allows them to free up capital and safely remove barriers that would otherwise restrict growth.

“The market has spoken. Capitolis is building the financial system of the future,” said Tom Glocer, co-founder and executive chairman of Capitolis. “With advanced technology, a talented team, a focus on operational excellence and the continued support of our trusted partners, I look forward to our ongoing progress.”

“At Citi, we have been impressed with Capitolis’ technology platform and their thoughtful, strategic approach to fostering a more efficient marketplace,” said Okan Pekin, Global Head of Securities Services at Citi. “We feel the opportunity in front of them is significant and there is a long runway for growth.”

Capitolis, which has a rapidly growing client base, intends to use the funds from this latest investment to drive further innovation in its technology and product development, bolster customer support and sales and grow its team from 90 employees to over 150 by year’s end.

Capitolis, the leading SaaS platform that drives financial resource optimization for capital markets, today announced a partnership with AcadiaSoft, the leading industry provider of risk and collateral management services for the derivatives community. The partnership combines AcadiaSoft’s risk analytics and repository of industrywide margin data with Capitolis’ proprietary technology platform, which will enable greater capital optimization for financial institutions.

The solution will allow financial institutions to eliminate large and unnecessary positions and find the most suitable party to hold the remaining positions. This offering will enable firms to more efficiently allocate their capital—as required by the evolving regulatory landscape—and has the potential to materially impact returns on capital, market liquidity, and access to markets.

“We are thrilled to partner with AcadiaSoft to create an industrywide solution for capital optimization, during an inflection point for collaboration among financial institutions,” said Gil Mandelzis, CEO and Founder of Capitolis. “AcadiaSoft’s status as a leader in risk management solutions and its suite of analytics services makes the firm an ideal partner for us in our mission to make the marketplace fairer, safer and healthier for all participants.”

Chris Walsh, CEO of AcadiaSoft, said, “Capitolis is reimagining how the capital markets operate. We have been working with their innovative team for a while and are excited to collaborate with a company that shares our vision for enhancing market efficiency and capital consumption for the market in a rapidly changing operating environment.”

The impact of upcoming regulations like SA-CCR (Standard Approach to Counterparty Credit Risk) will have a major effect on the capitalization of financial institutions. This partnership brings together two leading firms with a shared commitment to drive down costs in the industry. AcadiaSoft’s recent acquisition of Quaternion, a specialist risk management firm, further deepens the expertise of this unique partnership to develop services that firms will be able to deploy to gain immediate and lasting optimization results.

Capitolis, the leading SaaS platform that drives financial resource optimization for capital markets, today announced the appointment of James Kibbe as Head of Structured Funding Origination, amidst growing industrywide adoption of the company’s solutions among leading financial institutions.

In this role, Kibbe will lead the origination and execution of a suite of opportunities for banks, asset managers, hedge funds, and insurers that will enable these firms to address some of their biggest challenges, including capital, funding, and balance sheet needs, across asset classes.

Before joining Capitolis, Kibbe – a 25-year industry veteran – was a Managing Director at HSBC where he served in a variety of roles including Head of Rates, Repo/Derivative Financing; Co-Head of Institutional Sales for the Americas; and Head of Macro Sales. Under his leadership, HSBC’s UST cash trading business grew its market share to become a top three firm. He also built out the bank’s collateralized/derivatives finance franchise, working closely with the bank’s clients to identify and address their structured financing challenges, among other achievements. Prior to his tenure at HSBC, he served as Managing Director, Head of US Rates Sales, for UBS AG.

“In a short period of time, Capitolis has achieved a tremendous amount of success in developing an innovative technology platform designed to tackle financial institutions’ main challenges within structured finance,” said Kibbe. “I look forward to joining this amazing team who shares my passion for bringing to life the next generation of the market.”

“The market has undergone a significant transformation over the past year in terms of how financial institutions utilize their balance sheets and the resulting implications for capital and financial returns,” said Justin Klug, president of Capitolis. “We are delighted that someone of Jim’s caliber is joining Capitolis to lead the charge in addressing this critical need and take our structured solutions offering to the next level.”

Kibbe’s appointment follows a string of strategic new hires for Capitolis in recent months, including Callie Reynolds as Chief Customer Officer, Evelina Rosenstein as Head of Business Development, Hen Lotan, and Lindsey Baptiste as Chief of Staff and Head of Finance respectively, and Rahul Auradkar as Chief Product Officer.

Capitolis, the leading SaaS platform that drives financial resource optimization for capital markets, today announced a collaboration with CLS, a market infrastructure delivering settlement, processing and data solutions for the global FX market, that will integrate CLS’ data with Capitolis’ proprietary technology platform to streamline trading and settlement for banks in the $6.6 trillion global currency market.

The collaboration will allow financial institutions using Capitolis’ real-time technology platform to identify the best optimization opportunities, eliminate large and unnecessary positions and free up capital. These added efficiencies have the potential to materially affect returns on capital, market pricing, overall reduction of systemic risk and more.

Against a backdrop of more stringent capital requirements and the implementation of additional regulation, financial institutions’ ability to leverage innovative and effective optimization services is invaluable as these firms continue to seek to enhance their balance sheets, not just in the rapidly evolving FX market, but all global markets.

Gil Mandelzis, CEO and founder of Capitolis, said, “Capitolis brings a novel approach to the market, delivered through innovative technology. We are building a growing community of financial institutions that will allow these firms to collaborate and optimize their financial resources. Our alliance with CLS, one of the most trusted and formidable market infrastructures, will help us to create new opportunities for collaboration and move us closer to achieving our vision – to make markets safer, healthier and more efficient.”

Keith Tippell, Global Head of Product at CLS, said, “Our unique position at the center of the FX market enables us to collaborate with specialized service providers, like Capitolis, resulting in solutions that provide choice and flexibility for our clients and make the trading environment more efficient, safer and cost effective. We are excited to collaborate with the Capitolis team, providing CLS trade data and enabling improved capital efficiencies and significantly reducing risk for market participants.”

FinTech platform expands executive team with new hire focused on leading the team that will deliver core services to company’s growing and diverse customer base.

Capitolis, the leading SaaS platform that drives financial resource optimization for capital markets, today announced the appointment of Callie Reynolds as its Chief Customer Officer. Reynolds, who will lead Capitolis’ global customer success, including its global post-sales efforts, is the latest addition to the company’s growing executive team.

As Chief Customer Officer, Reynolds will develop the strategy and lead the team that delivers Capitolis’ core services to the company’s growing and diverse customer base, with a strong focus on customer satisfaction/retention and growth in adoption. Reynolds’ addition comes amid strong momentum for Capitolis, as the company continues to experience industrywide adoption of its proprietary technology platform.

With extensive experience in SaaS and an exceptionally strong background in customer success and account management, Reynolds joins Capitolis from Oracle, where she served as Vice President of Account Management for the Oracle Data Cloud division. In this role, she oversaw the support, adoption, and value exchange for the Measurement suite of solutions. During her time at Oracle, she was also named by New York Business Journal as one of its 2020 Women of Influence honorees.

Reynolds joined Oracle through its 2017 acquisition of Moat, an enterprise SaaS solution delivering analytics that measure viewability, attention, and brand safety across the digital advertising landscape. While at Moat, she served as Vice President of Account Management and grew the account management practice from its infancy into a global, cross-functional team, expanding across the U.S. and opening customer success centers in London, Sydney, and Singapore.

“We are thrilled to welcome Callie to Capitolis. Her deep expertise in the SaaS industry and strong track record of success make her an ideal fit to contribute to a rapidly growing business like ours,” said Gil Mandelzis, CEO and founder of Capitolis. “This year has presented us with a tremendous opportunity to accelerate the adoption of our innovative platform, and we look forward to continuing this momentum into 2021.”

“I’m excited to join a groundbreaking SaaS platform, with a world-class team, that’s truly transforming the way financial institutions utilize their balance sheets,” said Reynolds. “I look forward to partnering with Capitolis’ market-leading client base and bringing my SaaS experience to Capitolis to drive continued growth and enhance the company’s operational excellence.”

Capitolis, which helps financial institutions free up capital and remove barriers that would otherwise restrict trading, enables firms to optimize their balance sheet exposures through collaborative technology by eliminating unnecessary positions and finding the most suitable party to hold the remaining positions. The company has eliminated $5 trillion in overall positions to date for more than 50 financial institutions, including many of the world’s largest banks, as well as leading hedge funds and asset managers.

The announcement comes on the heels of a number of key executive hires in 2020, including Lindsey Baptiste as Senior Vice President of Finance, Hen Lotan as Chief of Staff, and Rahul Auradkar as Chief Product Officer. The company also recently announced its plans to grow its headcount from 50 employees at the beginning of 2020 to 90 employees by year-end

FinTech platform expects to grow team from 50 employees at the beginning of 2020 to 90 employees by year-end.

Capitolis, the leading SaaS platform that drives financial resource optimization for capital markets, today announced the appointment of several key hires across its major growth areas, including its engineering, sales and product teams. The new hires reflect Capitolis’ continued momentum amidst growing industrywide adoption of its proprietary technology platform.

Among the new hires, Capitolis has added Evelina Rosenstein as Sales Manager and Alex Dubost as Business Development Director in London, along with Dr. Petra Wikstrom as Business Development Executive for Buy Side Americas. Meanwhile, the company added 12 new employees to its engineering teams in Tel Aviv and New York to support product development efforts, including Meshi Peer as Director of Engineering.

To support the company’s strong growth trajectory, Capitolis expects to nearly double its headcount from 50 employees at the beginning of 2020 to 90 employees by year-end. As the company continues to drive efficiency for the capital markets, these key hires will help bolster sales efforts, as well as place a continued emphasis on innovation and acceleration of product development. To date, Capitolis has eliminated $5 trillion in overall positions for more than 50 financial institutions, including many of the world’s largest banks, as well as leading hedge funds and asset managers.

“We have enjoyed tremendous growth and momentum this year and must expand the team to support our efforts globally,” said Gil Mandelzis, CEO and founder of Capitolis. “We look forward to continually investing in top talent to advance our mission of transforming the capital markets through collaboration, innovation and technology.”

“We’re excited to welcome all of the new hires to Capitolis and look forward to seeing their contributions across the organization as we seek to create a fairer, safer and healthier marketplace for all participants,” said Tom Glocer, executive chairman of Capitolis.

Prior to joining Capitolis, Rosenstein was Head of Sales, EMEA at Broadway Technology, while Dubost was EMEA Sales and Client Relationship Director at RESET, formerly NEX RESET, now part of CME Group. Wikstrom served as Senior Advisor of Electronic Trading to Greenwich Associates and was Global Head of Execution & Alpha Solutions within FXLM & Commodity Derivatives Sales and Trading at BNP Paribas. Peer joins Capitolis from Como, where she previously served as Vice President of R&D.

Capitolis, which helps financial institutions free up capital and remove barriers that would otherwise restrict trading, enables firms to optimize their balance sheet exposures through collaborative technology by eliminating unnecessary positions and finding the most suitable party to hold the remaining positions.

This hiring announcement follows the recent addition of Lindsey Baptiste, who joined Capitolis as Senior Vice President of Finance, Hen Lotan, who was appointed Chief of Staff and Rahul Auradkar, who was brought on as Chief Product Officer. In addition, Capitolis recently completed a strategic investment from Citi, J.P. Morgan and State Street.

Fintech platform appoints Lindsey Baptiste as SVP of Finance and Hen Lotan as Chief of Staff following further industry adoption of Capitolis’ proprietary technology.

Capitolis, the leading SaaS platform that drives financial resource optimization for capital markets, today announced the appointment of two senior executives: Lindsey Baptiste as Senior Vice President of Finance and Hen Lotan as Chief of Staff.

These new hires will support Capitolis in its next phase of growth and play a key role in advancing the company’s mission to transform the capital markets through its collaborative technology and platform. Baptiste will oversee all finance activities, including financial planning and analysis, accounting, treasury, systems and billing, as well as support corporate governance. Lotan will manage Capitolis’ strategy, process and business performance, analyze strategic opportunities and measure business outcomes.

Baptiste joins Capitolis following key roles at both startups and large financial institutions. She started her career at Morgan Stanley in equity capital markets before expanding into fixed income capital markets over the course of five years. She then worked at MediaMath, Inc., a fast-growing AdTech startup, where she held positions in revenue and professional services operations, and served as the international head of finance. She saw the growth of the organization, from a small startup to a well-established, international company.

Prior to joining Capitolis, Lotan spent eight years with Boston Consulting Group, where he served as Principal and a lead member of the firm’s financial institutions practice, spearheading a variety of growth strategy and large-scale change engagements and crafting strategies to capture opportunities that leveraged new technologies. He also led the firm’s thought leadership research group – the BCG Henderson Institute – where he managed the development of BCG’s intellectual property on technology and strategy. Before BCG, Lotan served as a senior associate at KPMG Somekh Chaikin on their valuation services team in Tel Aviv.

“I am thrilled to welcome Lindsey and Hen to the Capitolis team. Their expertise will be instrumental as we continue on our high growth trajectory and reimagine capital markets for the benefit of all market participants,” said Gil Mandelzis, CEO and founder of Capitolis.

The new hires follow a year of record growth for Capitolis, which includes the recent completion of a strategic investment from Citi, J.P. Morgan and State Street.

The investment reflects industry support for Capitolis’ vision to transform capital markets by helping financial institutions optimize their capital for the benefit of all participants.

Capitolis, the leading SaaS platform that drives financial resource optimization for capital markets, today announced the completion of a strategic investment from Citi, J.P. Morgan and State Street.

The transaction represents a collaborative effort by the three leading global financial institutions to drive further adoption of Capitolis’ proprietary technology platform, which helps financial institutions free up capital and remove barriers that would otherwise restrict trading. Capitolis enables firms to optimize their balance sheet exposures through collaborative technology by eliminating unnecessary positions and finding the most suitable party to hold the remaining positions. To date, Capitolis has eliminated $5 trillion in overall positions for more than 50 financial institutions, including many of the world’s largest banks, as well as leading hedge funds and asset managers.

“We are excited to have three of our trusted partners provide further support for our vision and business model focused on transforming the marketplace for the benefit of all participants,” said Gil Mandelzis, CEO and founder of Capitolis. “While we have made great strides over the past three years since starting the company, it is only the beginning of our work in creating a new industry standard through collaboration, innovation and technology. There is much more transformation yet to come.”

The announcement follows a $40 million Series B funding round in November 2019, led by Spark Capital and SVB Capital, with participation from existing investors Index Ventures, Sequoia Capital and S Capital. Capitolis intends to use the funds from this latest investment to further accelerate its technology and product development, as well as expand sales and marketing initiatives in the months ahead.

“We are proud to support Capitolis and its innovative approach to capital optimization and efficiency,” said Okan Pekin, Global Head of Securities Services at Citi. “We have been growing supporters of the platform since its inception and believe Capitolis’ unique approach will play a significant role in enhancing global markets by driving increased industrywide collaboration to achieve higher growth.”

“Capitolis’ approach to innovation within the financial markets is unique and transformational,” said Troy Rohrbaugh, Head of Global Markets, J.P. Morgan. “We are happy to support them as they invest and build technology that helps free up capital creating greater efficiencies within the global markets industry.”

“State Street is very pleased to announce this latest investment, which is another significant milestone in our three-year partnership with Capitolis,” said Tobias Krause, Head of Global Markets Resource Management for State Street. “Their products have improved resource efficiencies and unlocked previously idle capacity in OTC markets. This ultimately helps our organization deliver better results on behalf our clients and ensures market participants have great access to financial resources. We look forward to continuing our work with Capitolis.”

“It’s been a pleasure to work with these three leading financial institutions,” said Tom Glocer, Executive Chairman of Capitolis. “It is the logical next step to add them to our capitalization table, and we look forward to their guidance in evolving our services to meet the needs of our clients for years to come.”

Since its inception, the Capitolis FX Options Novations platform has eliminated positions of more than $2.5 trillion in notional.

Capitolis, the leading SaaS platform that drives financial resource optimization for capital markets, today announced that Capitolis Novations, its foreign exchange novation platform, achieved a record transaction volume of $417 billion in notional for FX options novations during the second quarter of 2020, ended July 31, nearly doubling the volume from a year earlier.

Reflecting the desire for enhanced operational efficiency within the $5 trillion global currency market, NatWest has also joined the community of more than 50 leading global financial institutions, including Citi, HSBC, Standard Chartered, Nomura and Societe Generale, who are active participants on Capitolis’ Novations platform.

Since its inception two years ago, Capitolis Novations has recorded transaction volume of over $2.5 trillion in notional, underscoring the widespread industry adoption and momentum of its ground-breaking optimization technology among prime brokers, executing banks, hedge funds and money managers.

By automating a historically onerous and manual process, Capitolis has reduced transaction time from weeks to days ⁠— or even hours. It has also expanded the possibilities for trade optimization by making it economically viable for buy- and sell-side market participants to identify unnecessary positions that consume capital and move or eliminate them in collaboration with a much broader range of counterparties.

Gil Mandelzis, CEO and founder of Capitolis said, “Our strong performance in a challenging environment, as well as the addition of NatWest to the Novations community, reflects the tremendous growth of our platform. We look forward to increasing the network of market participants who can utilize our optimization tools to free up capital and boost their returns.”

“The Capitolis Novations platform has brought a new level of client service to the FX market by connecting a network of counterparties through a seamless and automated process that provides new efficiencies and cost benefits,” said Marcus Butt, Global Head of Prime Services & Futures at NatWest. “We support Capitolis’ efforts to help create a more collaborative market environment.”

Markit Co-Founder Brings Over 20 Years of Financial Information & Technology Experience to the FinTech Start Up as Board Member and Advisor

Capitolis, the innovative financial technology company that is reimagining how global capital markets operate, today announced the appointment of financial technology industry leader Rony Grushka to its Board of Directors. Rony will also serve as an advisor to the executive team on strategic initiatives.

An industry veteran with extensive experience within technology and financial services, Rony is best known for his role as a co-founder of Markit Group where he played a significant role in building it into one of the world’s most respected financial information companies. During his 13 years with the firm, he was Global Head of Corporate Strategy, Chief Financial Officer, a member of the Executive Management Committee, and Secretary to the Board of Directors. He also led the company’s initial public offering on the NASDAQ stock market.

Gil Mandelzis, CEO and Founder of Capitolis said, “We are thrilled to welcome Rony to our board. His experience building a world-leading financial information company will be a tremendous asset as Capitolis seeks new partnerships with the world’s leading financial institutions and delivers innovative solutions to the market.”

Tom Glocer, Executive Chairman and Co-Founder of Capitolis, added, “Capitolis has now entered a phase of exponential growth. Rony’s experience guiding Markit and other technology companies from early success to IPO will be of great benefit to the board and management team of Capitolis as we scale for success.”

Grushka’s appointment follows Capitolis’ announcement in March that it hired a new Vice President of Engineering and named two leaders to new roles to better support the firm’s rapid growth.

“Capitolis’ platform is truly unique and has established itself as a leader in this fast-growing category. It has the potential to revolutionize how banks, asset managers, hedge funds and other market participants manage their balance sheets. During these challenging times, Capitolis’ services are needed now more than ever,” said Grushka.

In addition to serving on the board of Capitolis, Rony is also a member of the boards of Cappitech, Sygnia, and Puls VATBox. He is also a member of the Court of Governors for the London School of Economics and Political Science in London. Rony holds accounting and finance degrees from the LSE and Tel Aviv University.

Amos Arev named Vice President of Engineering; Igor Teleshevsky named Head of Professional Services; Illit Geller named Chief Business Development Officer

Capitolis, an innovative financial technology company that is reimagining how global capital markets operate, today announced the hiring of Amos Arev as Vice President of Engineering, and the appointments of Igor Teleshevsky as Executive Vice President and Head of Professional Services and Illit Geller as Chief Business Development Officer.

“We’re thrilled to have an incredible team of leaders who are passionate about delivering a ground-breaking technology platform to our clients and making markets safer and more efficient,” said Gil Mandelzis. “These changes will help Capitolis continue to scale at a rapid pace and bring us closer to achieving our goal of revolutionizing capital markets.”

As Vice President of Engineering, Amos Arev leads Capitolis’ engineering efforts globally and drives the continued development of the company’s next-generation suite of products and services. Arev is based in Tel Aviv and reports directly to Capitolis CEO and Founder Gil Mandelzis.

Arev joins Capitolis from LawGeex, where he served as Vice President of Research and Development. Previously, he held C-suite and executive roles at a variety of companies including Skybox Security, Cyren, HexaTier, and Global-e.

Arev succeeds Igor Teleshevsky, who co-founded Capitolis and led the company’s engineering efforts since 2017. In his new role as Head of Professional Services, Teleshevsky focuses on the onboarding, support and ongoing success of Capitolis’ clients. He is relocating to the New York City office.

As Chief Business Development Officer, Illit Geller leads efforts to extend the company’s rapid growth by pursuing new partnerships and collaborations with the larger ecosystem of technology providers and trading platforms in capital markets. Geller joined Capitolis as Chief Product Officer in 2017.

Capitolis, the innovative FinTech company reimagining and reshaping how the global capital markets operate, is pleased to announce the successful completion of its Series B round of $40 million, led by Spark Capital and SVB Capital.

Existing investors, Index Ventures, Sequoia Capital and S Capital also participated in the round, bringing the total capital raised to date to $70 million. The investment will support Capitolis’ next phase of rapid growth, including the expansion of its technology platform, functionality and product offering.

Capitolis has a vision of efficient and safe global markets, achieved by connecting participants through a technology platform to provide maximum capital efficiency and optimization. By utilising proprietary technology, Capitolis has developed a platform through which financial institutions are able to collaborate, reduce capital utilization, and find the most attractive sources of capital, resulting in higher returns on capital and greater liquidity in global markets.

Capitolis was founded in 2016 by Gil Mandelzis, the founder of Sequoia-backed fintech company Traiana (acquired by ICAP) and former CEO of EBS BrokerTec, the electronic markets of division of ICAP plc (now CME Group plc), Tom Glocer, former CEO of Thomson Reuters and Igor Teleshevsky, formerly Executive VP and Head of Technology at Traiana. The company currently has 55 employees in New York City, London and Tel Aviv.

As part of the investment, Jeremy Philips, Partner at Spark Capital, focusing on growth investments, will join the Capitolis board. Jeremy has spent most of his career as an entrepreneur.

Since the introduction of its proprietary platform, Capitolis now has over 50 financial institutions live on its system, that have recorded transaction volumes of $1.5 trillion notional. In 2019 alone, notional transaction volumes have increased by 25x since last year.

The business now has a range of products available to its customers, including;

Novations: Capitolis’ ground-breaking platform that allows users to optimize their positions, view and change their desired parameters and execute resulting optimizations.

Marketplace: Capitolis Marketplace provides clients real-time capability to find through technology the cheapest and most appropriate partner to hold positions executed elsewhere.

Finance: Capitolis Finance helps institutions create new positions to facilitate significant balance sheet efficiencies, while simultaneously providing access to new short-term positions that investors can use for effective cash management, leveraging state of the art workflow technology.

Gil Mandelzis, CEO of Capitolis said; “In less than a year, Capitolis’ platform has been adopted by many of the world’s leading banks and hedge funds and is creating very meaningful resource benefits. Capitolis’ technology has already eliminated trillions of dollars of transactions notional to date, and with the new investments from Spark and SVB Capital, development is underway to expand the functionality and platform further. With our exceptional and growing team and strong appetite for our solutions, we are confident that our technology will be further adopted by institutions around the world.”

Tom Glocer, Executive Chairman of Capitolis said; “It is very gratifying to us that some of the world’s most successful investors have chosen to back our vision for safer, more efficient and more profitable capital markets leveraging Capitolis technology. We now have the funding, the management team, and the core customer adoption to grow Capitolis into a major industry infrastructure and force.”

Jeremy Philips, Partner at Spark Capital said; “The passion and energy that Gil, Tom, and the team bring to transforming the way that capital markets operate are what first caught our attention. Capitolis is on a multi-trillion dollar mission to reduce risk in the global financial system while improving returns. We are privileged to partner with them on this exciting journey.”

Tilli Kalisky-Bannett, Partner at SVB Capital said; “It is the nature of capital markets to constantly innovate, but it is exciting to find businesses that can make such a fundamental leap in how participants interact and improve the management of their portfolios. Gil and the Capitolis team have the potential to unlock intrinsic value at all stages of the financial ecosystem through their innovative technology.”

Jan Hammer, Partner at Index Ventures said; “Capitolis has developed a marketplace for institutional capital where supply and demand meet. By connecting all the parties in the market more efficiently, Capitolis removes bottlenecks that are limiting the flow of capital. The response from leading banks and other financial players has shown a growing need for such a platform, and we’re excited to continue to support the team as they scale.”

Haim Sadger, Partner at Sequoia Capital and Founder of S Capital VC said; “To transform a whole industry, you need to have a bold vision and serious dedication. Gil has both of those and more. We are thrilled to be backing him again and to be working alongside such a great team of innovators.”