Citi and HSBC Automate FX Prime Brokerage

Technology provider Capitolis has onboarded the foreign exchange (FX) prime brokerage businesses at Citi and HSBC to its recently launched platform for streamlined novation and automation, according to a story in The Trade news. Citi and HSBC are the first FX prime brokers to go live on the Capitolis Novation platform, which aims to reduce the time it takes for FX options novations to complete, benefiting both buy- and sell-side firms. The platform automates manual workflow in FX prime broking and bilateral trading.