Capitolis 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.
“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.”
