|[January 14, 2014]
FastMatch selects Caplin to front FX ECN
NEW YORK --(Business Wire)--
Caplin Systems today announced that FastMatch, the foreign exchange ECN
co-owned by BNY Mellon, Credit Suisse and FXCM, has selected Caplin, the
web trading technology company, to develop the new electronic
distribution platform for its spot FX matching service.
Launched in September 2012, FastMatch offers its customers access to a
large and completely transparent pool of diversified liquidity at
unparalleled speed. Its global reach is powered by datacenters in New
York and London - with a third center, Tokyo, going live in Q1 2014.
Dmitri Galinov, CEO of FastMatch, says: "Our platform is based on the
technology underpinning the world's largest equities crossing system. So
when it came to the front end we needed to implement an equally
impressive solution. When we looked into it, there was only one vendor
we trusted to deliver to our standards within the time and budget
Caplin's market-leading electronic trading technology is used worldwide
by banks such as Citi, RBS, Standard Bank and UniCredit. In September
2013, Caplin announced the launch of its FX Motif, a customizable FX web
trading solution that reduces costs and time-to-market by up to 75%
compared to alternative methods. This technology will be the core of the
Richard Leader, Caplin's Executive Vice President, Americas, says: "The
win is significant because it marks Caplin's entry into a ne arena:
front-ends for non-bank trading platforms - a compelling segment, given
the regulatory push in this direction and the proliferation of firms
offering these services, especially in the U.S."
He adds: "The bigger picture is encouraging: we're engaged with a
growing numbers of firms that a year ago were outside our core
investment banking domain - from wealth management giants and retail
brokers to institutional electronic market-makers - that are actively
transitioning to HTML5 and recognize that Caplin's got some great,
battle-proven web trading technology that can fast turn their visions
Emin Tatosian, Caplin's Chief Consultant in the Americas, continues:
"FastMatch is an inherently lean and agile organization whose 'get it
done' approach closely mirrors our own. Consequently this project moved
from successful prototype to signature in a matter of weeks. We've set
aggressive deadlines for implementation too, to prove that a
transformational project can happen with ground-breaking speed and
Caplin has already begun work on the implementation.
--- Ends ---
FastMatch is a matching system of spot foreign exchange. The FastMatch
system strives to offer its customers access to a large pool of
diversified liquidity at unparalleled speed, complete transparency,
central location and excellent customer service.
About Caplin Systems
Caplin has been helping investment banks, online brokers and other
financial firms to build single-dealer platforms for over a decade. In
1999, Caplin created the first ever web server specifically designed for
real-time financial data, enabling the company to build some of the very
first single-dealer platforms for investment banks.
Caplin's technology is used worldwide by banks such as Citi, RBS,
Standard Bank and UniCredit.
Founded in 2000, Caplin Systems is incorporated in England and Wales and
is based in the City of London with sales offices in New York and
Singapore. The company is privately held with the majority of staff
employed in product development and professional services.
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