Capitolis Taps CLS Group to Sweeten FX Data Offering

Capitolis, which has offices in New York, London and Tel Aviv, has entered a services agreement with FX settlement specialist CLS Group to enhance the data offering of its foreign Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term service.

Through the partnership, Capitolis’ proprietary technology platform will integrate CLS’ data to help clients optimize their balance sheet exposure by eliminating unnecessary positions. Additionally, the company helps firms in finding the best party to hold the remaining positions, enabling a much more streamlined solution to service the needs of both sell and buy sides of the market.

CLS’ FX settlement service is available both directly, to settlement members, and indirectly, to third-party clients. Over 25,000 third-party clients use CLSSettlement including banks, funds, non-bank financial institutions and multinational corporations.

Founded in 2017 by Israeli entrepreneur, Gil Mandelzis alongside former Thomson Reuters’ execs, Capitolis enables financial institutions to free up capital and remove barriers that would otherwise restrict trading.

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To date, Capitolis said that over 50 financial institutions, as well as many hedge funds and asset managers, leveraged its technology to eliminate more than $5 trillion in overall positions.

Earlier in September, the Fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Read this Term firm raised $11 million from financial giants like Citi, JP Morgan and State Street. Since inception, Capitolis has amassed $81 million in total funding, backed by investors such as Index Ventures, Sequoia Capital, Spark Capital, SVB Capital and S Capital.

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, added: “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.”