Capitolis to connect to LCH <strong>Forex</strong>Clear’s FX Smart Clearing solution Capitolis has announced it is connecting to LCH’s FX Smart Clearing solution. This will add another layer of optimization benefits to help banks overcome the challenge of increased costs resulting from the introduction of the Standardized Approach to Counterparty Credit Risk (SA-CCR) and other risk measures in the FX industry, particularly relating to FX forwards, FX swaps and cross-currency swaps. In a proof-of-concept with nine global banks, Capitolis demonstrated the benefits in capital and funding that FX Smart Clearing would provide to the company’s existing SA-CCR optimization service. It reached a network yield of Gil Mandelzis 42% of total funding costs including the funding of capital. “Combining FX Smart Clearing with our post-trade optimization technology is the ideal approach to managing capital for our customers,” said Gil Mandelzis, CEO & Founder, Capitolis. “The relationship with LCH <strong>Forex</strong>Clear, coupled with our network of participating global banks, is a sophisticated and advanced model for the industry, bringing multi-lateral optimization to the next level by including a clearing node.” Raiffeisen Bank International adopts ION’s messaging solution NEWS ION, a global leader in trading, analytics, treasury, and risk management solutions for capital markets, commodities, and treasury management, has announced that Raiffeisen Bank International (RBI) has implemented ION’s new ISO 20022 solution. A leading corporate and investment bank in Austria and Central and Eastern Europe (CEE), RBI selected the solution to help it meet the new TARGET2 and SWIFT CBPR+ ISO 20022 initiatives. ION’s ISO 20022 technical messaging system helps users to navigate the transition seamlessly. Equipped with this solution, RBI can now process settlement requests both from ION’s existing WSS FX and other back-office applications across the bank. Supporting the rich and Eugene Markman structured data in ISO 20022 messages, the new messaging hub will provide a more efficient end-to-end payments experience for RBI’s clients. Eugene Markman COO of ION FX, said: “Through working with RBI on their ISO 20022 strategy for the past two years, we understand the challenges this new messaging format presents. Designed to address these concerns, our ISO 20022 solution will help RBI and other clients meet the new requirements, realize additional settlement opportunities, and pave the way for a more standardized, efficient payments landscape.” DIGITEC makes two new hires in London DIGITEC has announced that Errol McKenzie and Asim Ahmed have joined its London office. DIGITEC’s London office includes staff with extensive industry experience across a range of different roles, including sales, customer service, product development, IT services and engineering. Errol McKenzie joins as Head of Customer Service and Success and reports to Stephan von Massenbach, Chief Revenue Officer whilst Asim Ahmed, who has joined as Service Level Manager, reports to Errol McKenzie. “As we continue to add bank clients and develop new products it is important that we provide the highest levels of support by investing in experienced and highly skilled people working in Customer Service and IT Services,” said Peer Joost, CEO of DIGITEC. “Hiring for these roles in London brings us closer to our clients and new prospects, which is key to DIGITEC’s future growth plans.” Peer Joost 6 JULY 20<strong>23</strong> e-FOREX
Institutional EMBARK POWERFUL LIQUIDITY SOLUTIONS Combine power and tailor-made for best-in-class execution on FX Spot, Metals, Swaps, Forwards and Commodities. With a deep liquidity pool, custom streams, a hybrid execution model and the best trading environments, you are ready to expand your counterparty network. Partner with the Swiss leader in online banking (SIX:SQN). swissquote.com/fx-prime JULY 20<strong>23</strong> e-FOREX 7
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