NEW YORK–(BUSINESS WIRE)–October 4, 2022–
capitols, the technology company reimagining capital markets, completed its thirteenth Standardized Approach to Counterparty Credit Risk (SA-CCR) this year, marking the first multilateral exercise completed in a single day. A single-day execution is momentous for multilateral optimization as it allows for greater network participation despite volatile and uncertain markets and resource constraints among participants.
Same-day execution greatly reduces the time, risk and customer resources associated with optimization exercises, which can typically take up to 5 days. Capitolis’ latest enhancement to its portfolio optimization technology sets a new benchmark for front-to-back execution times in the complex capital optimization space. The one-day exercise allowed clients to schedule an extra run at a busy quarter-end and during a volatile market month.
“The optimization market still works, in general, for several days and up to a week, as it has been for the last 20 years. This process takes too long, introduces too much risk to banks and requires too many resources,” said Gil Mandelzis, CEO and founder of Capitolis. “We believe in the vision of optimizing same-day, electronic and ultimately on-demand, and this milestone is a huge step forward in realizing our vision. Working closely with our customers, we have been able to make significant progress since the launch of SA-CCR and look forward to continuing to build to bring greater optimization efficiency and flexible options to the market.”
The SA-CCR framework, which aims to normalize and standardize the capital requirements of financial institutions’ derivatives portfolios, has been gradually introduced globally over the past few years to provide a uniform way of calculating the credit exposure of the counterparty Capitolis has been innovating with its clients to manage SA-CCR counterparty exposures and capital requirements both in preparation for SA-CCR deployment and post-implementation.
“Offering a one-day SA-CCR optimization exercise is an industry first and allows us to respond to market needs when we need it most,” said Ben Townson, product manager for optimization at the portfolio of Capitolis. “We are excited to continue to roll out optimization services to advance our goal of creating a healthier and safer marketplace.”
Earlier this year, following Capitolis’ strong first half of 2022, the company was named “Best Compression/Optimization Service for FX” in Forex Markets June 2022.e-FX Awardswhich aims to recognize companies that have set the bar in electronic forex trading with skill, dedication and creativity.
ABOUT CAPITOLS
We believe that financial markets can and should work for everyone. Capitolis is the technology company reimagining how capital markets work by freeing capital constraints and enabling greater access to more diversified capital and investment opportunities. Rooted in advanced technology and deep financial expertise, Capitolis drives innovative financial solutions that drive growth for global and regional banks, and institutional investors alike. Capitolis is backed by world-class venture capital firms including Canapi Ventures, 9Yards Capital, SVB Capital, Andreessen Horowitz (a16z), Index Ventures, Sequoia Capital, Spark Capital and S Capital, as well as leading global banks such as JP Morgan, Citi and State Street.
Founded in 2017, our team brings decades of experience in launching successful technology and financial services companies and is growing rapidly from our offices in New York, London and Tel Aviv. For more information, visit our website at www.capitolis.com or follow us on LinkedIn.
View the activated source version businesswire.com:https://www.businesswire.com/news/home/20221004005834/ca/
CONTACT: Edward Ruddy
Sloane & Company
eruddy@sloanepr.comBrian Zilberfarb
capitols
brianz@capitolis.com
KEY WORD: UNITED STATES NORTH AMERICA NEW YORK
INDUSTRY KEYWORD: BANKING TECHNOLOGY ACCOUNTING PROFESSIONAL SERVICES SMALL BUSINESS SEARCH ENGINE OPTIMIZATION PUBLIC RELATIONS/INVESTOR RELATIONS SECURITY COMMUNICATIONS SOFTWARE NETWORKS INTERNET DATA MANAGEMENT FINANCIAL CONSULTING
SOURCE: Capitolis
Copyright Business Wire 2022.
PUB: 10/04/2022 11:00 AM/DISC: 10/04/2022 11:03 AM
Copyright Business Wire 2022.
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