Cassini Systems

Name: Cassini Systems
Brand: Cassini Systems

Margin and Collateral Intelligence for derivatives: improving returns and reducing operational risk.

Est 2014|Valuation $80.6M|Raised $29.7M|4 Ref Customers

LinkedIn 5K|Website|FTEs 89|HQ London, England, GB

MarketsClearing & Settlement Infrastructure Investment Risk Analytics

01Competitive Landscape

Narrative analysis

Cassini vs OpenGamma: - Both vendors provide margin analytics and capital efficiency tooling. Differences typically relate to model coverage, integration architecture, and the degree of productization for institutional workflows. Cassini vs Murex: - Murex is positioned as a broader cross-asset platform with native collateral operations. Cassini is typically presented as an analytics overlay that can integrate with existing OMS/EMS/collateral stacks where buyers do not want to replace core systems. Cassini vs Acadia: - Acadia is associated with margin automation and industry utilities for non-cleared derivatives processes. Some firms may combine an analytics overlay (Cassini) with operational connectivity provided by Acadia.

Adoption trends

Public materials indicate adoption by hedge funds, asset managers, and global banks, but customer counts are not published. Integration with institutional portfolio platforms suggests institutional engagement, though specific adoption metrics are not available in public sources.

	Cassini (Cassini Systems)	OpenGamma (institutional)	Murex (MX.3)
Starting Price	Not publicly listed	Not publicly listed	Not publicly listed
Best For	Firms needing margin/collateral analytics and optimization across the trade lifecycle; organizations seeking an analytics overlay that integrates with existing platforms	Firms focused on capital efficiency analytics, margin/financing cost allocation, and derivatives analytics	Firms requiring a broad, integrated cross-asset platform including collateral operations and treasury functions
Key Strength	Positioning around margin/collateral analytics across lifecycle; ability to integrate with institutional portfolio and risk platforms	Established productization around capital efficiency and cost allocation modules	Comprehensive functional breadth for firms seeking a consolidated platform
Key Weakness	Limited publicly available third-party product reviews; many outcome claims are presented at a marketing level; enterprise integration can be complex	Integration and data/model governance requirements; not a turnkey collateral ops system	Heavy implementation effort and cost; may be excessive if only margin analytics are needed

01Competitive Landscape

Narrative analysis

Cassini vs OpenGamma:

Both vendors provide margin analytics and capital efficiency tooling. Differences typically relate to model coverage, integration architecture, and the degree of productization for institutional workflows.

Cassini vs Murex:

Murex is positioned as a broader cross-asset platform with native collateral operations. Cassini is typically presented as an analytics overlay that can integrate with existing OMS/EMS/collateral stacks where buyers do not want to replace core systems.

Cassini vs Acadia:

Acadia is associated with margin automation and industry utilities for non-cleared derivatives processes. Some firms may combine an analytics overlay (Cassini) with operational connectivity provided by Acadia.

Adoption trends

	Cassini (Cassini Systems)	OpenGamma (institutional)	Murex (MX.3)
Starting Price	Not publicly listed	Not publicly listed	Not publicly listed
Best For	Firms needing margin/collateral analytics and optimization across the trade lifecycle; organizations seeking an analytics overlay that integrates with existing platforms	Firms focused on capital efficiency analytics, margin/financing cost allocation, and derivatives analytics	Firms requiring a broad, integrated cross-asset platform including collateral operations and treasury functions
Key Strength	Positioning around margin/collateral analytics across lifecycle; ability to integrate with institutional portfolio and risk platforms	Established productization around capital efficiency and cost allocation modules	Comprehensive functional breadth for firms seeking a consolidated platform
Key Weakness	Limited publicly available third-party product reviews; many outcome claims are presented at a marketing level; enterprise integration can be complex	Integration and data/model governance requirements; not a turnkey collateral ops system	Heavy implementation effort and cost; may be excessive if only margin analytics are needed