Chill winds blow for Capitolis’s equity swap platform

The fintech’s effort to revive off-balance-sheet funding runs into market and regulatory turbulence.

As recently as a year ago, Capitolis seemed to be on to something big—big enough to change the way banks finance their hedge fund clients.

The New York-based fintech’s Ionic Capital Trust program connects money market investors in search of higher yields with banks that need financing for their equity swap activities. Instead of buying shares to hedge their client exposures, banks can enter an offsetting total return swap (TRS) with Capitolis’s special-purpose vehicles (SPVs), which issue

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Brown Brothers Harriman unifies busy suite of AI products

It’s a new world, contend BBH’s Kevin Welch and Josh Fine. After a few years of experimentation that yielded several AI products for the bank and its clients, it was time to put the puzzle pieces together to serve a different way of working post-Covid.

Bank-backed Versana takes aim at syndicated loan tech

Born from a consortium that includes JP Morgan and Bank of America, Versana aims to bring up-to-date and permissioned data to the syndicated loan market—the first step to a more transparent and faster operating market.

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