Securities Finance Industry News | Loop Capital selects Matrix Applications for its outsourcing services
Matrix Applications has been selected by investment banking, brokerage and advisory firm Loop Capital as a key strategic partner and provider of a variety of technology and outsourcing services.
Loop Capital will use Matrix Applications’ multi-asset trade processing platform, Elevate, to support the growth of its brokerage business in the United States.
Elevate is a fixed income and equity lending platform that offers a cohesive front-to-back office solution for institutional post-trade processing.
Formerly known as QTIX, Elevate has moved to the next generation deployments and a modernized user interface. By using Elevate, Loop Capital is able to redeploy internal resources to new areas of strategic growth.
Jim Reynolds, CEO of Loop Capital, comments: “During our search for a strategic partner, the Matrix Applications team demonstrated best-in-class technology and operational solution to meet Loop Capital’s specific requirements.
“The Matrix team’s shared commitment to unlocking opportunities for DEI companies, coupled with their extensive industry expertise, were significant factors in our decision to implement their Elevate platform for processing and post-negotiation assistance.”
Stephen Mellert, Managing Director of Matrix Applications, adds: “It has been a privilege to partner with Loop Capital and watch them build their successful brokerage startup. We are committed to helping the Loop Capital team achieve their goals. Our new Elevate system allows us to do just that.