NEX Optimisation and Capitolis have entered into a partnership to provide immediate access to Capitolis’ FX novation service through the NEX Infinity platform.
Launched in 2018, Capitolis has created a platform for end-to-end FX novation processing to try and bring greater standardisation, automation and transparency to the buy and sell sides.
Complying with the ISDA Novations Protocol, ‘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, speeding up the time taken to adopt the solution and go-live.
Andrés Choussy, CEO of Traiana, says: “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, comments: “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.”