Capitolis

Name: Capitolis
Brand: Capitolis

Leader

Capitolis is the technology company creating safer and more vibrant financial markets.

Est 2017|Valuation $1.6B|Raised $336.4M|15 Ref Customers

LinkedIn 10K|Web traffic 3K|FTEs 179|HQ New York, New York, US

MarketsClearing & Settlement Infrastructure

01Competitive Landscape

Narrative analysis

#### Areas where Capitolis appears to have capabilities - FX options novations specialization: the vendor markets a novations platform with a focus on FX options workflows. - Network and structuring approach: the offering combines market participation with structuring and technology. - Product expansion via acquisitions: recent acquisitions expanded multilateral optimization capabilities and added rates portfolio compression and margin optimization. #### Areas where competitors may be stronger - Entrenched post-trade infrastructure footprint: competitors have long histories in compression and optimisation in certain asset classes and may offer more established market utilities and run calendars. - Clearing house scale and compression in rates: CCP-led solutions have substantial cleared swap compression volumes and broad market coverage, which can be advantageous for cleared rates workflows. #### Pricing/value comparison Because these vendors do not publish clear starting prices, buyers typically compare on: - Expected reductions in IM/capital/notional - Participation breadth (which counterparties are reachable) - Operational burden and automation (STP) - Total program cost (fees plus internal resource load) #### Adoption trends - Vendor materials and press coverage indicate participation from multiple institutions and strategic investments from banks. - Competitors are positioned within larger post-trade portfolios or consolidated service providers, indicating ongoing consolidation and ecosystem integration in post-trade services.

	Capitolis	TriOptima (triReduce)	Quantile (LSEG Post Trade)
Starting Price	Not publicly disclosed	Not publicly disclosed	Not publicly disclosed
Most Applicable For	Institutions seeking FX-focused novation/optimization and broader portfolio optimization plus a capital marketplace	Institutions needing large-scale compression across multiple OTC asset classes	Institutions seeking counterparty risk optimisation / initial margin and SA-CCR optimisation plus compression, integrated with the LSEG post-trade ecosystem
Key Strength	Positioning in FX novations and networked optimization; acquisitions have broadened scope	Long-standing compression infrastructure in OTC derivatives with an established subscriber base	Optimization pedigree and positioning for margin/capital optimisation; integration within the LSEG ecosystem
Key Weakness	Limited public security documentation and limited third-party reviews; outcome dependent on counterparty participation	May be more focused on compression rather than a broader capital marketplace approach	Potential overlap with CCP/clearing ecosystems and possible ecosystem lock-in concerns

01Competitive Landscape

Narrative analysis

Areas where Capitolis appears to have capabilities

FX options novations specialization: the vendor markets a novations platform with a focus on FX options workflows.
Network and structuring approach: the offering combines market participation with structuring and technology.
Product expansion via acquisitions: recent acquisitions expanded multilateral optimization capabilities and added rates portfolio compression and margin optimization.

Areas where competitors may be stronger

Entrenched post-trade infrastructure footprint: competitors have long histories in compression and optimisation in certain asset classes and may offer more established market utilities and run calendars.
Clearing house scale and compression in rates: CCP-led solutions have substantial cleared swap compression volumes and broad market coverage, which can be advantageous for cleared rates workflows.

Pricing/value comparison

Because these vendors do not publish clear starting prices, buyers typically compare on:

Expected reductions in IM/capital/notional
Participation breadth (which counterparties are reachable)
Operational burden and automation (STP)
Total program cost (fees plus internal resource load)

Adoption trends

Vendor materials and press coverage indicate participation from multiple institutions and strategic investments from banks.
Competitors are positioned within larger post-trade portfolios or consolidated service providers, indicating ongoing consolidation and ecosystem integration in post-trade services.

	Capitolis	TriOptima (triReduce)	Quantile (LSEG Post Trade)
Starting Price	Not publicly disclosed	Not publicly disclosed	Not publicly disclosed
Most Applicable For	Institutions seeking FX-focused novation/optimization and broader portfolio optimization plus a capital marketplace	Institutions needing large-scale compression across multiple OTC asset classes	Institutions seeking counterparty risk optimisation / initial margin and SA-CCR optimisation plus compression, integrated with the LSEG post-trade ecosystem
Key Strength	Positioning in FX novations and networked optimization; acquisitions have broadened scope	Long-standing compression infrastructure in OTC derivatives with an established subscriber base	Optimization pedigree and positioning for margin/capital optimisation; integration within the LSEG ecosystem
Key Weakness	Limited public security documentation and limited third-party reviews; outcome dependent on counterparty participation	May be more focused on compression rather than a broader capital marketplace approach	Potential overlap with CCP/clearing ecosystems and possible ecosystem lock-in concerns