Loop Capital selects Matrix Applications for outsourcing services
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Loop Capital selects Matrix Applications for outsourcing services 23 September 2022US Reporter: Carmella Haswell
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Matrix Applications has been selected by investment banking, brokerage and advisory services firm Loop Capital as a key strategic partner and provider of a variety of technology and outsourcing services.
Loop Capital will utilise Matrix Applications’ multi-asset trade processing platform, Elevate, to support the growth of its US broker-dealer business.
Elevate is a fixed-income and equities securities lending platform that offers a cohesive front-to-back office solution for institutional post-trade processing.
Formerly known as QTIX, Elevate has upgraded to Next Generation deployments and a modernised user interface. By utilising Elevate, Loop Capital is able to redeploy internal resources to new strategic growth areas.
Jim Reynolds, CEO of Loop Capital, comments: “During our search for a strategic partner, the Matrix Applications team demonstrated the best-in-class technology and operational solution to meet Loop Capital's specific requirements.
"The Matrix team's shared commitment to opening opportunities for DEI firms, coupled with their extensive industry expertise, were significant factors in our decision to implement their Elevate platform for post-trade processing and support.”
Stephen Mellert, managing director at Matrix Applications, adds: “It has been a privilege to partner with Loop Capital and witness the build out of its successful broker dealer start-up. We are committed to helping the Loop Capital team meet their goals. Our new Elevate system enables us to do so.”
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