Citi and HSBC go live on Capitolis FX tech

Friday 8 February 2019 14:28 CET | News

Citi and HSBC are the first FX prime brokers to go live on the Capitolis Novation service in foreign exchange.

The two banks went live in December 2018. The project is aimed at streamlining the novation process, helping to reduce the time it takes for FX options novations to complete, and for the benefit of the sell and buy side.

Capitolis Novation, launched in May 2018, is a technology platform which automates the manual workflow in both FX prime broking and bilateral trading, partnering to provide capital efficiencies for the FX market.

The service intends to help reduce overall balance sheet notional and risk exposures that banks currently employ to meet their regulatory capital requirements.

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Keywords: Citi, HSBC, Capitolis Novation, FX, trading
Countries: World