Citi & HSBC: First FX prime brokers


Citi & HSBC: First FX prime brokers to go live on the Capitolis Novation service in foreign exchange

  • The project aimed at streamlining the novation process helping to reduce the time it takes for FX options novations to complete
  • Citi and HSBC used  service extensively across all their client activity with executing banks and counterparties
  • The service intends to help reduce overall balance sheet notional and risk exposures that banks currently employ to meet their regulatory capital requirements
  • The FX prime brokerage novation tool provide access to liquidity and credit in the FX options market
  • Capitolis Novation launched in May 2018 a technology platform which automates the manual workflow in both FX prime broking and bilateral trading