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Traiana and Capitolis partner to offer Capitolis’ FX novation service through Infinity




London, New York, Singapore – NEX Optimisation, which helps clients reduce complexity and optimise resources across the transaction lifecycle, and Capitolis, a pioneering technology provider for the capital markets announce today they will collaborate in a partnership to provide immediate access to Capitolis’ FX novation service through the NEX Infinity platform. The collaboration will enable NEX Optimisation customers of the service to connect to the Capitolis FX novation service through the NEX Infinity platform, with minimal integration requirements and resources, while reducing the time taken to go-live.

Launched in 2018, Capitolis has created the first industry-wide streamlined platform for end-to-end FX novation processing to bring standardisation, automation and transparency to the buy and sell side. The service is live and is being adopted by numerous leading banks and buy side participants. Novation plays an increasingly critical role in increasing efficiencies for participants. Complying with the ISDA Novations Protocol [1], ‘Capitolis Novation’ automates the currently manual workflow in both FX prime broking and bilateral trading. The service addresses operational, audit, cost, speed and scale inefficiencies resulting from the manual process.

The new solution will be delivered via NEX Infinity. This will allow NEX Optimisation customers to access it through their existing connection, with minimal changes to infrastructure. This can significantly speed up the time taken to adopt the solution and go-live. Alongside its relationship with NEX Optimisation, Capitolis will continue to provide this solution to market participants on a standalone basis.

Andrés Choussy, CEO of Traiana, said: “As the FX industry increasingly incorporates novation into their portfolio optimisation processes, there is an increasing market need for an end-to-end automated solution such as Capitolis. The addition of the Capitolis FX novation service to the Infinity platform complements our expanding suite of third party service offerings, and allows us to bring new post trade services to our customers.”

Gil Mandelzis, CEO of Capitolis, said: “We believe novation is a significant part of the future market structure and we are happy to partner with NEX Optimisation, with their wide distribution and connectivity in the global market.  This new partnership will help Capitolis to accelerate the global adoption of this important new product.”

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[1] The ISDA Novations Protocol: https://www.isda.org/a/KfTDE/overview-of-fx-novation-and-cancellation-protocol.pdf

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NEX Optimisation Leading the transformation of market structure, NEX Optimisation offers a portfolio of cloud-hosted services across the transaction lifecycle. Ranging from pre-execution credit checking to multilateral portfolio compression, our purpose is to simplify our clients’ workflow and help them optimise their resources. We are an integrated team of financial markets and pioneering financial technology specialists who operate in all asset classes, geographies and business sectors across the financial markets.

We are dedicated to mitigating risk, increasing efficiency, reducing costs and streamlining increasingly complex processes for our clients. We offer the opportunity to optimise both regulatory and financial resources. Find out more here.

NEX Group plc offers customers better ways to execute trades and manage risk. Our products and services underpin the entire trade lifecycle pre-, during and post-execution. Our electronic trading platforms are industry standards. Customers use our lifecycle management and information services to optimise portfolios, control risk and reduce costs. We partner with emerging technology companies to bring greater efficiency, transparency and scale to the world’s capital markets. NEX is headquartered in London with offices worldwide. NEX. Empowering markets. For more information, go to www.nex.com

Capitolis is a pioneering technology provider for the global capital markets. Founded by key industry executives from banking and financial technology, Capitolis’ mission is to build new products and services to address capital markets constraints, initially in equities and foreign exchange. Capitolis’ proven expertise in finance, distribution and processing aims to better connect appropriate capital with the best collaborative solutions to clients all over the world. For further information, please go to our website and LinkedIn.