NEX Optimisation and Capitolis have partnered to offer Capitolis’ foreign exchange (FX) novation service through the NEX Infinity platform.
The collaboration will enable NEX Optimisation customers to connect to the Capitolis FX novation service through the NEX Infinity platform.
According to NEX, this will be carried out with minimal integration requirements and resources, while reducing the time taken to go-live.
Capitolis created the first industry-wide streamlined platform for end-to-end FX novation processing this year, which aims to bring standardisation, automation, and transparency to the buy and sell side.
Additionally, the service addresses operational, audit, cost, speed, and scale inefficiencies resulting from the manual process.
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, commented: “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.”
