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 various technology and outsourcing services.
Loop Capital is leveraging this partnership to support the growth of its U.S. broker-dealer business. The company will utilize Elevate, Matrix’s premier multi-asset transaction processing platform. Formerly known as QTIX, Elevate has been upgraded to Next Generation (“NG”) deployments and a modernized user interface. By leveraging Elevate, Loop Capital was able to redeploy internal resources to new strategic growth areas.
“Our partnership with Matrix Applications is a testament to our belief in bringing leading-edge technology to enhance the value we deliver to our customers,” commented Michael Santoro, Managing Director of Loop Capital. “In addition to the technology Matrix provides, their customer service is unmatched. Matrix stands out because their experienced team truly understands the challenges broker-dealer startups face and what it takes to succeed.”
With Matrix’s front-to-back office fixed income and equity securities lending platforms, Loop Capital now joins the firm’s growing list of clients who benefit from more than 20 years of business, financial and technology built into its systems.
“During our search for a strategic partner, the Matrix Applications team demonstrated best-in-class technical and operational solutions to meet Loop Capital’s specific requirements,” said Jim Reynolds, CEO of Loop Capital. “The Matrix team’s shared commitment to providing opportunities for DEI firms, coupled with their extensive industry expertise, was an important factor 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 providing creative capital solutions to corporate, government and institutional entities around the world. It is a minority business, and Matrix Applications values diversity and inclusion in the capital markets.
“It has been an honor to work with Loop Capital and witness the establishment of its successful broker-dealer start-up,” said Stephen Mailer, Managing Director of Matrix Applications. “We are committed to helping the Loop Capital team achieve their goals. Our new Elevate system allows us to do this with the highest level of quality service.”
About Matrix Applications, LLC
Matrix app is a New York– FinTech Services Authority, which provides a collateral management, margining and clearing system for institutional fixed income trading and equity securities lending. Since 2000, we are a team of capital markets and systems professionals providing financial technology solutions to institutional firms. We work with our clients personally to determine the best mix of services that best suit their needs, from systems to back-office operational assistance. With in-house and offshore developers, we provide our clients with the right solution at the right price. Made up of industry veterans and financial professionals, we leverage our extensive technical experience, deep network across the financial industry, and teams of operational, regulatory and legal experts to provide custom systems and custody services to companies large and small.
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