Finance Breaking news Citi, JPMorgan and State Street invest in Capitolis last financial news
Breaking-Finance.Com - Citi, JPMorgan and State Street have invested in capital markets software house Capitolis.
Breaking-Finance.Com - Citi, JPMorgan and State Street have invested in capital markets software house Capitolis. Founded by Gil Mandelzis, ex-Traiana, and Icap, Tom Glocer, ex-CEO of Thomson Reuters, and Igor Teleshevksy, formerly Traiana, Capitolis is designing multiple new products and services to address capital markets constraints on under-utilised capital, initially in equities and foreign exchange.The latest investment from three of the market's biggest banks follows a $40 million fund raise in November last year.“Capitolis’ approach to innovation within the financial markets is unique and transformational,” says Troy Rohrbaugh, head of global markets, JPMorgan. “We are happy to support them as they invest and build technology that helps free up capital creating greater efficiencies within the global markets industry.
.5 trillion notional.Tobias Krause, head of global markets resource management for State Street, comments: “Their products have improved resource efficiencies and unlocked previously idle capacity in OTC markets. This ultimately helps our organisation deliver better results on behalf our clients and ensures market participants have great access to financial resources.”Capitolis says it will use the funds from this latest investment to invest in technology and product development, as well as expand sales and marketing initiatives.
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