Loop Capital Markets Selects Matrix Applications for Technology Solutions and Outsourcing Services
NEW YORK, Sept. 22, 2022 /PRNewswire/ -- Matrix Applications, LLC ("Matrix") is pleased to announce that Loop Capital Markets, LLC ("Loop Capital") has selected Matrix as a key strategic partner and provider for a variety of technology and outsourcing services.
Loop Capital is leveraging this partnership to support the growth of its U.S broker dealer business. The firm will utilize Matrix's premier multi-asset trade processing platform, Elevate. Formerly known as QTIX, Elevate has upgraded to Next Generation ("NG") deployments and a modernized user interface. By utilizing Elevate, Loop Capital is able to redeploy internal resources to new strategic growth areas.
"Our partnership with Matrix Applications is a testament to our belief of introducing leading-edge technology to enhance the value we deliver to our clients," commented Michael Santoro, Managing Director of Loop Capital. "Beyond the technology Matrix provides, their customer service is unparalleled. Matrix stands out because their experienced team truly understands the challenges for a broker-dealer start-up and what it takes to be successful."
With Matrix's fixed income and equities securities lending platform for the front-to-back-office, Loop Capital now joins the firm's growing list of customers benefiting from the 20+ years of business, finance an technology built into its systems.
"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," said Jim Reynolds, Chief Executive Officer of Loop Capital. "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."
Loop Capital is a client-focused, full-service investment banking, brokerage and advisory services firm that provides creative capital solutions for corporate, governmental and institutional entities worldwide. It is a minority-owned business and Matrix Applications values diversity and inclusion in the capital markets.
"It has been a privilege to partner with Loop Capital and witness the build out of its successful broker dealer start-up," said Stephen Mellert, Managing Director at Matrix Applications. "We are committed to the Loop Capital team meet their goals. Our new Elevate system enables us to do so at the highest level of quality service."
About Matrix Applications, LLC
Matrix Applications is a New York-based fintech service bureau that offers a suite of collateral management, margining and clearing systems for institutional fixed income trading and equities securities lending. We are a team of capital markets and systems professionals delivering financial technology solutions to institutional firms since 2000. We work hands-on with our clients to identify an optimal mix of services to best fit their needs, from systems to back-office operations assistance. With in-house and offshore developers, we provide our clients with the right solution at the right price. Comprised of industry veterans and financial professionals, we leverage our extensive technical experience, a deep network across the finance industry and a team of ops, regulatory and legal gurus to deliver bespoke systems and managed services for firms big and small.
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