NEW YORK--(BUSINESS WIRE)--Capitolis, the technology company creating safer and more vibrant capital markets, is proud to announce its recognition as the "Best FX Software Provider" in the 2023 Euromoney Foreign Exchange Awards, a hallmark of excellence within the global FX industry.
For more than 44 years, the Euromoney Foreign Exchange Survey has stood as the most comprehensive representation of the wholesale FX market. Capitolis earned this distinction in the Non-Bank Award category, reaffirming its leadership in revolutionizing financial technology solutions for banks, institutional investors, asset managers, and hedge funds on a global scale.
“We are honored to be recognized as the Best FX Software Provider of 2023,” said Gil Mandelzis, CEO & Founder, Capitolis. “This award underscores our commitment to innovation and our dedication to solving complex market challenges for our clients. It is a testament to the hard work and unwavering commitment of our team, and we look forward to continuing to innovate with the goal of reducing risk, unlocking capital efficiency, and enabling growth and prosperity for more participants.”
Capitolis earned the “Best FX Software Provider” recognition for its agility and commitment to its clients in the face of unprecedented challenges, notably following Russia's invasion of Ukraine in 2022. Working quickly to bring together a large network of global banks, Capitolis leveraged its trade optimization platform to support a dozen banking entities to successfully reduce their exposure to Russian rubles and mitigate the impact of settlement failures due to sanctions or other market happenings.
Capitolis has now completed 15 Russian ruble exposure exercises, reduced billions in redundant, notional exposures on behalf of global banks, and donated a portion of revenues from these compression activities to Ukrainian relief and humanitarian efforts.
Over the past few years, Capitolis has also been working closely with its clients to help them prepare for the rollout of SA-CCR, the Standardized Approach to Counterparty Credit Risk, effective January 2022. Capitolis continues to execute optimization runs for its clients, driving a reduction of hundreds of billions in SA-CCR Effective Notional to-date.
Earlier this year, Capitolis was named to CNBC’s inaugural World’s Top Fintech Companies 2023 list and to Fast Company’s prestigious annual list of The World’s Most Innovative Companies, ranking No. 2 in the Finance category.
Learn more about Capitolis at https://capitolis.com/.
About Capitolis
We believe the financial markets can and should work for everyone. Capitolis is the technology company creating safer and more vibrant financial markets by unlocking capital constraints and enabling greater access to more diversified capital and investment opportunities. Rooted in advanced technology and deep financial expertise, Capitolis powers groundbreaking financial solutions that drive growth for global and regional banks – and institutional investors alike. Capitolis is backed by world class venture capital firms, including Canapi Ventures, 9Yards Capital, SVB Capital, Andreessen Horowitz (a16z), Index Ventures, Sequoia Capital, Spark Capital, and S Capital, as well as leading global banks such as J.P. Morgan, Citi and State Street.
Founded in 2017, our team brings decades of experience in launching successful startups, technology, and financial services. Capitolis was named to Fast Company’s prestigious annual list of The World’s Most Innovative Companies for 2023 as well as CNBC’s inaugural World’s Top Fintech Companies 2023 list. Most recently, Capitolis was recognized as one of New York’s 100 Best Places to Work in 2023 by Crain’s New York Business for the second consecutive year. For more information, please visit our website at www.capitolis.com or follow us on LinkedIn.
