NEW YORK, September 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 of a variety of technology and outsourcing services.
Loop Capital is using this partnership to support the growth of its US broker-dealer business. The firm will use Matrix Elevate’s leading multi-asset trade processing platform. Formerly known as QTIX, Elevate has been upgraded to a next-generation (“NG”) deployment and modernized the user interface. Using Elevate, Loop Capital can reallocate internal resources to new strategic areas of growth.
“Our partnership with Matrix Applications is a testament to our belief in implementing cutting-edge technology to enhance the value we deliver to our customers,” commented Michael Santoro, managing director of Loop Capital. “In addition to the technology that Matrix provides, their customer service is second to none. What sets Matrix apart is that their experienced team truly understands the challenges facing a broker-dealer startup and what it takes to succeed.”
With Matrix’s front-back office fixed income and equity lending platform, Loop Capital now joins the firm’s growing list of clients benefiting from 20+ years of business, finance and technology embedded in its systems.
“When looking for a strategic partner, the Matrix Applications team demonstrated best-in-class technology and operational solutions that fit Loop Capital’s specific requirements,” he said. Jim Reynolds, CEO of Loop Capital. “The Matrix team’s shared commitment to enabling DEI firms, combined with their extensive industry expertise, were important factors in our decision to adopt their Elevate platform for post-trade processing and support.”
Loop Capital is a full-service, client-focused investment banking, brokerage and advisory firm that provides creative capital solutions to corporate, government and institutional organizations worldwide. As a minority-owned business, Matrix Applications values diversity and participation in the capital markets.
“It has been an honor to work with Loop Capital and watch them build a successful broker-dealer,” said Stephen Mellert, managing director of Matrix Applications. “We want the Loop Capital team to achieve its goals. Our new Elevate system allows us to do this at the highest level of service quality.”
About Matrix Applications, LLC
Matrix Applications is a New YorkA fintech service bureau offering a suite of collateral management, margin and clearing systems for institutional trading in fixed income and equities. We are a team of capital markets and systems professionals providing financial technology solutions to institutional companies since 2000. We work hands-on with our clients to determine the optimal mix of services that best suit their needs, from systems to back office support. With in-house and offshore developers, we offer our customers the right solution at the right price. Comprised of industry veterans and financial professionals, we leverage our extensive technical expertise, extensive network in the financial industry, and a team of operations, regulatory and legal experts to provide customized systems and managed services for companies large and small.
SOURCE Matrix Applications, LLC