London-based Cassini Systems, a provider of pre- and post-trade margin and collateral analytics, announced that it has raised $20.5M (approx €18.16M) in a growth round of funding led by Ten Coves Capital and joined by existing investor Mosaik Partners.
As part of the investment, Steve Piaker, Managing Partner at Ten Coves will join the Cassini Board of Directors.
Piaker says, “Cassini fits perfectly with our strategy of investing in leading fintech companies with a strong platform for growth. The company operates at the intersection of three powerful trends: integrated data and analytics; liquidity and trading cost optimisation in the capital markets; and regulatory compliance. Its reputation for delivering powerful tools in partnership with providers of some of the world’s leading portfolio and risk management systems positions Cassini to continue to innovate and grow.”
Capital utilisation
The company says the proceeds from this round will be used to accelerate its product development, expand its sales force and expand its services in global markets.
Cassini’s founder and CEO, Liam Huxley says, “This financing is a crucial next step as we continue to scale our operations and add to our global client base, which includes many of the world’s largest banks and asset management firms. With this latest investment, we look forward to deepening and expanding our solutions, and continuing to deliver the world-class service our clients expect.”
The margin analytics platform
Regulatory changes enacted after the 2008 global financial crisis continue to drive increased margin requirements and collateral demand for investment managers trading in over-the-counter (OTC) derivatives, futures, options, and related products. This is where Cassini Systems steps in.
Founded in 2014 by Liam Huxley, Cassini System’s software services claim to enhance front office trade decisions with visibility and analytics of post-trade costs and also provide post-trade optimisation and estimation tools for treasury and operations. These tools allow firms to achieve large cost savings while improving resilience to collateral stress.
Cassini users can calculate any margin on any cleared or uncleared derivatives asset, analyse drivers and movement in margin exposure, reduce initial margin levels, and maximise margin efficiency with the firm’s advanced algorithms.
The company claims to have a proven track record of enhancing portfolio returns at every point in the daily business cycle, empowering traders and portfolio managers with the ability to analyse instantly in the pre-trade stage the all-in, lifetime cost of a transaction.
Top-tier hedge funds, asset managers, and Tier 1 banks rely on Cassini for flexible, automated tools to manage their portfolios of over-the-counter and exchange-traded derivatives products.
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