Capitolis Hits New Peak in Strong 2024

Capitolis ended 2024 on a high by notching another record month in December for its Novations platform.

The firms says it achieved $710 billion in gross notional novated across 5,659 trades, rocketing past the previous high of $500 billion. Unsurprisingly given the multiple strong months the platform reported, 2024 was Capitolis’ strongest to date.

During the year it also added three prime brokers, six executing brokers and eight clients to the platform as it extends its reach and says it is adding more in 2025. This has led to FX prime brokers and buy side firms increasing the number of initiated trades, this hit 7,300 in December, the highest in 2024.

Response times on the Novations platform have also been slashed, by more than 60% over the past two year, and Capitolis says those firms on the platform consistently respond twice as fast as those off-platform. Planned enhancements to the Novations platform this year  include a new user interface and the ability to make amendments in standard workflow.

“The strong growth we saw in 2024 is a direct result of adding more prime brokers, executing brokers, and clients to our Novations platform, with improved functionality and technology advances contributing to increased adoption,” says Ben Tobin, head of Europe, Capitolis. “The significant reduction in response times is a proof point for the benefits of being on platform, and we are excited to collaborate with existing and new market participants as we continue to grow and expand our network.”