Israeli fintech company Capitolis Today it announced the acquisition of UK portfolio compression and margin optimization firm Capitalab from BGC Group for $46 million. This acquisition will allow Capitolis, the market leader in optimization and compression, to offer more optimization and compression solutions to the industry.
The acquisition comes amid Capitolis’ rapid growth. The company has launched several new products and witnessed strong network expansion over the past year. Capitalab will expand the company’s growing network of the world’s most important financial institutions and create opportunities to bring more market participants through Capitalab’s strong market control in price portfolio compression and margin optimization. To date, Capitalab has squeezed a total notional amount of more than $10 trillion from options contracts.
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“Portfolio compression and margin optimization is critical to capital markets, and when done right, it truly helps the financial system and its participants,” said Gil Mandelzis, Founder and CEO of CapitalLab. “Capitallab’s highly innovative technology complements our existing suite of award-winning solutions.” “Together we will create a ‘one-stop shop’ for compression, and we look forward to welcoming the team and believe that together we can take their unique offering to the next level.”
Gavin Jackson, founder and CEO of Capitolis, who will join the Capitolis management team, added: “We are delighted to be joining forces with Capitolis, which will allow us to combine our strengths, talents and shared vision to create something even more amazing. This powerful combination will enable us to deliver even more exceptional service to our clients.” “Ensuring their needs remain at the heart of everything we do.”
The acquisition comes after Capitolis announced last week a $20 million strategic investment from four leading global banks, led by Citibank and including State Street, Morgan Stanley and UBS.
Published by Globes, Israel Business News – en.globes.co.il – on December 3, 2024.
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