Capitolis goes live with FX credit switch service 30 April 2018New York Reporter: Jenna Lomax
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Capitolis has launched its foreign exchange (FX) credit switching service, Capitolis Switch.
Capitolis Switch enables the unbundling of execution, processing, capital and risk in foreign exchange prime broking.
Switch expands the provision of credit and allows the large banks to maximise their prime brokerage infrastructure capability and their substantial networks.
Credit providers can work with new clients while utilising the scale of processing via the technology of deal processors and Capitolis.
Sanjay Madgavkar, managing director and global head of FX prime brokerage at Citi, said: “We welcome technology developments that enable new flexible credit models which strengthen our FX prime brokerage service. We’re excited by the potential of Capitolis to drive change and are pleased to offer this solution to our clients.”
Brandon Mulvihill, global head of FX prime brokerage at Jefferies, commented: “Jefferies is committed to making innovative technology available to its clients, and we are thrilled to be a first mover credit provider on the Capitolis platform. Capitolis provides us yet another tool to add strategic value to our clients.”
Brendan Callan, CEO of FXCM Group, said: “FXCM has been at the forefront of offering cutting edge trading tools for clients for many years. With this new partnership with Capitolis, we foresee many benefits for liquidity enhancement by the expansion of the credit provision model.”
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