DDCAP Group
DDCAP Group is a London-headquartered market intermediary and fintech provider to the Islamic financial services industry, offering asset facilitation services and the proprietary ETHOS AFP™ trade and post-trade platform to over 300 institutional clients globally.
- Company typePrivate
- Founded1998
- HeadquartersLondon, United Kingdom
- Headcount11–50
- GTM typeB2B
- OfferingServices
What DDCAP Group does
DDCAP Group is a London-headquartered market intermediary and financial technology provider dedicated exclusively to the Islamic financial services industry. Founded in 1998 by Stella Cox CBE and majority controlled since 2006 by IPGL (Lord Michael Spencer's holding vehicle), the company provides asset facilitation services and Sharia-compliant trade and post-trade technology to over 300 institutional clients across Islamic banks, non-bank financial institutions, asset managers, and fintechs. DDCAP operates across the Islamic interbank market, consumer banking, Islamic capital markets, project and trade finance, real estate finance, and asset management, generating revenue through transaction-based intermediation fees on a quote-based, pay-as-you-go pricing structure.
The company's core technology is ETHOS AFP™, a proprietary, multi-award-winning real-time trade and post-trade services platform that provides full Straight Through Processing functionality for Sharia-compliant transactions. ETHOSTerminal™, launched in 2021 as the platform's latest evolution, introduces an open-market environment enabling clients to choose trade counterparts. The platform is API-enabled and pre-integrated with core banking (Tuum), treasury (Refinitiv Islamic Deal Connect, Murex), and onboarding/KYC (norbloc Sancus) systems. An in-house Sharia Supervisory Board of five world-renowned scholars from the GCC and Southeast Asia has reviewed processes and procedures since 2013, providing a regulatory and religious-compliance layer that competitors without equivalent governance cannot easily replicate.
DDCAP monetizes primarily through transaction fees on facilitated asset trades, supplemented by technology licensing via its platform and integrations. Its go-to-market is direct enterprise sales with dedicated regional directors managing client relationships across GCC (Dubai DIFC, Bahrain, Riyadh), Southeast Asia (Kuala Lumpur), and global markets from its London headquarters. The company has grown its office footprint from London to five jurisdictions, including a newly authorized Riyadh office established in October 2025, reflecting ongoing geographic expansion into the highest-growth Islamic finance markets.
DDCAP Group firmographics
Firmographics- Name
- DDCAP Group
- Legal name
- DDCAP Limited
- Website
- https://ddcap.com
- Company type
- Private
- Founded year
- 1998
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- DDCAP Group is a London-headquartered market intermediary and fintech provider to the Islamic financial services industry, offering asset facilitation services and the proprietary ETHOS AFP™ trade and post-trade platform to over 300 institutional clients globally.
- Ownership category
- akta.pro rank
Where DDCAP Group is headquartered
LocationHeadquarters
- HQ city
- London
- HQ country
- United Kingdom
- HQ region
- Europe
Offices5 records
Markets served
DDCAP Group business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure, Others
Revenue model
- Asset Facilitation Services: DDCAP provides transactional support and value-added services as a market intermediary in the Islamic financial services industry, facilitating across diverse range of asset classes and products in both primary and secondary markets.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Institutional client services |
Go-to-market motion1 record
Distribution channels1 record
Marketing channels4 records
DDCAP Group product offering
Product offeringCore offering
DDCAP Group is a market intermediary and financial technology provider to the Islamic financial services industry. It facilitates Sharia'a compliant asset transactions across diverse asset classes in primary and secondary markets for institutional clients, while licensing its proprietary ETHOS AFP™ platform for real-time, automated trade execution and post-trade processing. The firm also extends the platform via API integration with partner core banking, treasury workflow and KYC systems.
Product overview
DDCAP Group offers a unified platform architecture anchored by ETHOS AFP™ (ETHOS), its core multi-award-winning real-time trade and post trade services platform. The platform serves as the foundational infrastructure supporting automated, Sharia-compliant asset facilitation across global Islamic financial markets. ETHOSTerminal™ extends the platform with enhanced integration functionality through an open market environment. The product portfolio centers on providing institutional clients—banks, non-bank financial institutions, asset managers, and fintechs—access to a responsible, diverse asset inventory via secure web-based portal with full STP (Straight Through Processing) functionality. API technology enables connectivity with partner systems including Tuum core banking, Refinitiv, Murex, and norbloc, delivering integrated end-to-end solutions for Islamic asset-based transactions.
Differentiator
Problem solved
Functional benefit
Brands
- ETHOS AFP: Multi award-winning Sharia'a compliant financial technology platform providing real-time trade and post trade services
- ETHOSTerminal
Products and services
- ETHOS AFP™ Multi-award-winning, bespoke, real-time trade and post-trade services platform providing continuous coverage for Sharia'a compliant asset facilitation. Enables institutional clients (Islamic banks, non-bank financial institutions, asset managers, fintechs) to purchase from a responsible, diverse asset inventory via a secure web-based portal for onward sale to their own customers and counterparties, with full Straight Through Processing (STP) functionality.
- ETHOSTerminal™ Latest evolution of the ETHOS AFP™ platform. Provides enhanced integration functionality through an open market environment that enables users full discretion in choosing trade counterparts, supporting more flexible, Sharia'a compliant trade execution for institutional clients.
- Asset Facilitation Services Intermediary services providing transactional support and value-added services for Islamic banks, non-bank financial institutions, asset managers and fintechs across a diverse range of Sharia'a compliant products, asset classes and instruments in both primary and secondary markets. Delivered through dedicated regional offices in London, Dubai (DIFC), Kuala Lumpur, Bahrain and Riyadh.
Quantifiable outcome
- Served over 300 financial sector clients globally
- +1 more outcomes
Companies that use DDCAP Group
Customer profileNamed customers6 records
Segments4 records
Ideal customer profiles3 records
DDCAP Group technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration5 records
Feature4 records
DDCAP Group partnerships and signals
Strategic signalPartnerships
Eleven partnerships are on record, tiered strategic, core, exploratory and supporting.
- ruya (UAE)strategicStrategic partnership with UAE's digital-first Islamic bank to launch next-generation Commodity Murabaha offering. ruya leverages DDCAP's ETHOS AFP™ platform to structure and execute Commodity Murabaha transactions, providing customers with transparent, Sharia-compliant financing solutions.
- norbloccoreStrategic partnership providing digitalised solutions for customer onboarding. DDCAP uses norbloc's Sancus Platform for KYC/AML compliance, PEP checks, and due diligence processes. Bespoke client pathways configured to reflect requirements of existing global client base and new counterparties.
- Cambridge IFAcoreLong-standing strategic partnership renewed annually since 2019, focused on advocacy, support and promoting development of Islamic finance. Collaborative initiatives include Cambridge Global Islamic Finance Report (GIFR), ISFIRE magazine, WOMANi programme, Cambridge Islamic Finance Leadership Programme (IFLP), and Cambridge Islamic Finance Structuring Master Programme.
- TuumcorePartnership to provide pre-integrated fintech solution for Islamic financial market. DDCAP and Tuum clients gain ability to migrate legacy automated trade execution and post trade support services for Sharia compliant financing via seamlessly integrated offering through Tuum core banking solution with DDCAP's ETHOS AFP™.
- Islamic Coin (Swiss HAQQ Association)exploratoryMemorandum of understanding to explore potential opportunities for the global Islamic market. Swiss HAQQ Association and Islamic Coin partnering with DDCAP to explore opportunities in Islamic finance space.
- Boubyan Bank, KuwaitstrategicDDCAP supported Boubyan Bank Kuwait to complete its Digital Deal Automation Project using award-winning Sharia compliant ETHOS AFP™ platform.
- Refinitiv (LSEG business)strategicPartnership through Refinitiv's leading Islamic workflow solution Islamic Deal Connect (#IDC). DDCAP was the first broker to be integrated with Islamic Deal Connect providing fully integrated treasury trading workflow for Sharia compliant transactions.
- MurexstrategicPlatform integration facilitating transactions for Islamic financial market participants. Partnership streamlines automated bookings and processing for rapidly extending market footprint across Middle East and Southeast Asia.
- Instimatch Global AGsupportingTechnology partner providing integrated service solutions as part of DDCAP's technology partner ecosystem.
- RFI FoundationsupportingDDCAP has been actively engaged with RFI Foundation since 2015, with Managing Director Stella Cox CBE serving as Board of Trustees member. Focus on exploring prospective opportunities for cooperation between Islamic finance and other subsets of responsible finance industry.
- UN Principles for Responsible Investment (PRI)coreDDCAP became the first and only intermediary in the Islamic financial services industry to become a signatory to the United Nations endorsed Principles for Responsible Investment in November 2016. Commits DDCAP to incorporating ESG issues into investment analysis and decision-making processes.
Scale indicators3 records
Recent moves8 records
Expansion highlights6 records
DDCAP Group competitors and assessment
Company assessmentDirect peers
- ICS Financial Systems: Provider of banking software (BANC) with Islamic finance capabilities for retail, corporate, and treasury. Operates in the same Middle East and Southeast Asia geographies as DDCAP.
- TP ICAP: Global interdealer broker operating across multiple asset classes. Most direct functional analog to DDCAP's intermediation model, and notably founded by the same individual (Lord Spencer) who controls DDCAP via IPGL.
- Path Solutions: Provider of Islamic core banking and finance software (iMAL) widely deployed across Islamic banks. Competes for the same institutional Islamic finance IT budget as DDCAP's ETHOS AFP.
- Murex: Provider of trading, risk, and post-trade solutions with Islamic finance modules integrated with DDCAP. Both compete and partner on the trade and post-trade infrastructure layer for Islamic financial institutions.
- BML Istisharat: Islamic banking software vendor offering core, trade finance, and treasury solutions for Islamic banks. Directly comparable in target customer and Sharia-compliant infrastructure offering.
Emerging players
- Tuum: Modern cloud-native core banking platform with a pre-integrated partnership with DDCAP's ETHOS AFP. Targets the same digital-first Islamic bank and fintech customer base.
- Instimatch Global AG: Interbank money market platform connecting financial institutions for deposits and FX swaps. Comparable niche interbank intermediation model and an existing DDCAP technology partner.
Broad incumbents
- LSEG (Refinitiv): Operator of Islamic Deal Connect workflow solution integrated with DDCAP. A larger incumbent serving Islamic and conventional finance with overlapping trade workflow capabilities.
- Temenos: Large banking software vendor with established Islamic banking modules and Sharia-compliant capabilities. Competes for the same IT spend at large Islamic financial institutions.
Others
- Norbloc: KYC/AML and onboarding platform integrated with DDCAP's client onboarding flow via Sancus. Functions as an ecosystem enabler rather than direct competitor.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
DDCAP Group social profiles
Digital presenceDDCAP Group compliance and trust
Trust signalCompliance2 records
DDCAP Group financial estimates
Financial estimateRevenue estimate
Valuation estimate
DDCAP Group leadership team
Management profileNumber of profiles
Profiles9 records
DDCAP Group subsidiaries and ownership
Company hierarchySubsidiaries6 records
DDCAP Group funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
DDCAP Group M&A and investment
M&A and investmentM&A
Investments1 record
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about DDCAP Group
What does DDCAP Group do?
DDCAP Group is a market intermediary and financial technology provider to the Islamic financial services industry. It facilitates Sharia'a compliant asset transactions across diverse asset classes in primary and secondary markets for institutional clients, while licensing its proprietary ETHOS AFP™ platform for real-time, automated trade execution and post-trade processing. The firm also extends the platform via API integration with partner core banking, treasury workflow and KYC systems.
Is DDCAP Group a public or private company?
DDCAP Group is a private company. It is classified as corporate owned and is currently operating.
When was DDCAP Group founded?
DDCAP Group was founded in 1998. It employs 11 to 50 people.
Where is DDCAP Group based?
DDCAP Group is headquartered in London, United Kingdom, in the Europe region.
How does DDCAP Group make money?
One revenue line is on record: asset Facilitation Services.
Who are DDCAP Group's main competitors?
Direct peers on record are ICS Financial Systems, TP ICAP, Path Solutions, Murex and BML Istisharat. Emerging players are Tuum and Instimatch Global AG. Broad incumbents are LSEG (Refinitiv) and Temenos. Norbloc is listed as an others.
Does DDCAP Group have an API?
Yes. DDCAP's platform enables API connectivity for integration with partner systems. The API supports integration with Tuum core banking solution for end-to-end trade execution and processing of Sharia compliant transactions. API deployment removes manual intervention during trade and post trade cycles, providing a fully integrated, Sharia compliant interface. No standalone developer portal or API documentation URL is publicly listed.