Capitolis has successfully completed its run of multilateral exercises to transition legacy USD LIBOR-referenced swaptions to vanilla SOFR replacements for 17 global dealers. Through nine live executions, Capitolis, and Capitalab prior to its acquisition by Capitolis last year, facilitated the multilateral switching of over 17,000 legacy LIBOR swaptions across their dealer network. As a result, participants have eliminated the significant operational burden of expiry management associated with legacy LIBOR swaptions. “This initiative demonstrates the strength of collaboration across the industry and the power of innovation to solve real-world problems,” said Gavin Jackson, Co-Head of Portfolio Optimization, Capitolis. “The successful transition of such a large volume of trades reflects the trust our clients place in Capitolis as well as their commitment to progress and willingness to work with us to achieve it. We’re incredibly grateful for their support, engagement, and partnership to deliver this important solution at scale.”
