Cassini
Cassini provides front-to-back margin and collateral analytics software for derivatives market participants, covering cleared OTC, bilateral OTC, ETD, and prime broker portfolios. The platform serves asset managers, hedge funds, pension funds, commodity firms, clearing brokers, and prime brokers globally through direct enterprise sales and embedded integrations.
- Company typePrivate
- Founded2014
- HeadquartersCity Of London, United Kingdom
- Headcount11–50
- GTM typeB2B
- OfferingSoftware
What Cassini does
Cassini (formerly Cassini Systems) is a UK-headquartered fintech founded in 2014 by Liam Huxley that provides margin and collateral analytics software for derivatives market participants. Its core offering is a front-to-back margin and collateral intelligence platform covering cleared OTC, bilateral OTC, ETD, and prime broker portfolios, delivered as a single-tenant hosted solution on AWS with API integration, web UI, and secure file transfer capabilities. Functional modules include pre-trade margin analysis, margin drivers and attribution, algorithmic collateral optimization, stress testing and forecasting, clearing broker reconciliation, and Uncleared Margin Rules (UMR) compliance tooling (AANA, SIMM, GRID) — with documented outcomes such as multi-million-dollar funding-charge savings and 47% initial margin reductions for enterprise users.
Cassini generates revenue primarily through enterprise SaaS / analytics platform subscriptions, sold via direct field sales to hedge funds, asset managers, pension funds, commodity firms, clearing brokers, and prime brokers across six offices (London, New York, Sydney, Singapore, Hong Kong, Chennai). Its distribution strategy increasingly routes through OEM/embedded integrations into flagship buy-side platforms — notably BlackRock Aladdin, State Street Collateral+, VERMEG COLLINE, and TS Imagine — providing reach into Tier-1 institutions without proportional direct-sales cost. The company is privately held, backed by Ten Coves Capital (lead of its 2021 $20.5M growth round) and Mosaik Partners, holds ISO 27001 and SOC 2 certifications, and has accumulated a broad portfolio of industry awards spanning Risk.net, GlobalCapital, HFM, FTF, WatersTechnology, and Chartis RiskTech50 between 2021 and 2023.
Cassini firmographics
Firmographics- Name
- Cassini
- Legal name
- Cassini Systems
- Website
- https://cassini.com
- Company type
- Private
- Founded year
- 2014
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Cassini provides front-to-back margin and collateral analytics software for derivatives market participants, covering cleared OTC, bilateral OTC, ETD, and prime broker portfolios. The platform serves asset managers, hedge funds, pension funds, commodity firms, clearing brokers, and prime brokers globally through direct enterprise sales and embedded integrations.
- Ownership category
- akta.pro rank
Cassini industry classification
Industry- Product category
- Derivatives Margin and Collateral Analytics Software
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Securities and Commodity Contracts Intermediation and Brokerage (5231), Commodity Contracts Intermediation (523160)
- SIC
- Services-Computer Processing & Data Preparation (7374), Commodity Contracts Brokers & Dealers (6221)
- akta.pro primary industry
- Derivatives Collateral & XVA (CSA, CVA/FVA/KVA) (FSACADAK)
- akta.pro secondary industry
- Best Execution & TCA Compliance (FSAFAOAL)
Keywords
Where Cassini is headquartered
LocationHeadquarters
- HQ city
- City Of London
- HQ country
- United Kingdom
- HQ region
- Europe
Offices5 records
Markets served
Cassini business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Marketing or Sales, Infrastructure, Operations
Revenue model
- SaaS/Analytics Platform Subscription: Subscription-based access to margin and collateral analytics platform providing pre-trade, intra-day, and post-trade analytics across all derivative classes. Platform delivered via cloud hosting, API integration, or web UI.
Go-to-market motion1 record
Distribution channels3 records
Marketing channels5 records
Cassini product offering
Product offeringCore offering
Cassini provides a front-to-back margin and collateral analytics platform for derivatives market participants, covering cleared OTC, bilateral OTC, ETD and prime broker portfolios. The platform delivers pre-trade margin simulation, intra-day margin drivers and attribution, post-trade collateral optimization, stress testing and forecasting, UMR compliance (AANA, SIMM, GRID), and clearing broker reconciliation. It is delivered as a Single-Tenant Hosted solution on AWS with API integration, a web UI, and secure file transfer capabilities.
Product overview
Cassini offers a unified margin and collateral intelligence platform for derivatives markets, providing the industry's only front-to-back margin and cost analysis across the entire trade lifecycle. The core platform integrates with leading financial platforms including BlackRock Aladdin, State Street Collateral+, and VERMEG COLLINE. The product portfolio includes vertical-specific solutions for Asset Managers, Hedge Funds, Pension Funds, Commodity Firms, Clearing Brokers, and Prime Brokers. Key modules span pre-trade margin analysis, algorithmic collateral optimization, stress testing and forecasting, and UMR compliance tools, all accessible via API integration, intuitive web UI, or dedicated hosting on AWS.
Differentiator
Problem solved
Functional benefit
Products and services
- Margin and Collateral Intelligence Platform
- Hedge Fund Solutions
- Asset Management Solutions
- Pension Fund Solutions
- Commodity Firms Solutions
- Clearing Broker Solutions
- Prime Broker Solutions
- Cassini Dedicated Hosting on AWS
Quantifiable outcome
- Multi-strategy Hedge Fund raised unencumbered cash levels by $80 million
- +7 more outcomes
Companies that use Cassini
Customer profileNamed customers12 records
Segments6 records
Ideal customer profiles6 records
Cassini technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration4 records
AI capability2 records
Feature7 records
Cassini partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered core, flagship and minor.
- TS ImaginecorePartnership to offer intelligent margin and collateral derivatives analytics to prime brokers and hedge funds, extending market reach through TS Imagine's platform.
- VERMEGcoreVERMEG integrated Cassini's margin analytics platform into its COLLINE collateral suite, giving clients a comprehensive workflow for managing intraday and end-of-day collateral requirements. Integration includes Cassini's SIMM calculation service at pre- and post-trade.
- State StreetflagshipPartnership to add market leading pre-and post-trade optimization and margin analytics capabilities to State Street's Collateral+ service. Cassini's technology integrates to optimize margin and carry cost impact, providing the best trade route and offering margin optimization as a post-trade utility.
- BlackRockflagshipStrategic partnership to integrate Cassini analytics into BlackRock's Aladdin platform, allowing mutual clients to factor margin-based analytics into pre- and post-trade decision-making. Partnership builds on existing Aladdin derivatives capabilities to provide pre-trade margin comparison and collateral optimization.
- Danske BankminorCollaborating with Cassini and other partners (Eurex, SimCorp) to host the 2023 Copenhagen Derivatives Breakfast Briefing on collateral resilience.
- EurexminorCollaborating on the 2023 Copenhagen Derivatives Breakfast Briefing focusing on collateral resilience and front-office alpha generation.
- SimCorpminorPartner in industry event collaboration on collateral resilience strategies for buy-side participants.
Scale indicators3 records
Recent moves9 records
Expansion highlights5 records
Cassini competitors and assessment
Company assessmentDirect peers
- AcadiaSoft (Acadia): Acadia operates margin/collateral infrastructure including the ISDA SIMM platform and initial margin exposure management (IMEM) services. Cassini has integration touchpoints with Acadia via State Street Collateral+, making it both a peer and adjacent infrastructure provider.
- CloudMargin: CloudMargin is a cloud-based collateral management workflow platform serving banks, asset managers, and corporate treasuries. It is a direct competitor in collateral management and is integrated into Cassini's partner ecosystem, indicating clear product overlap.
- SmartStream Technologies: SmartStream provides collateral management, reconciliation, and post-trade processing solutions to capital markets participants. Its collateral management offering competes directly with Cassini's collateral optimization and analytics modules.
- TriOptima (CME Group): TriOptima, part of CME Group, provides portfolio reconciliation and margin optimization services for OTC derivatives. It directly overlaps with Cassini's optimization and reconciliation capabilities, particularly for buy-side firms managing uncleared derivatives.
- Calypso Technology (ION Group): Calypso provides a cross-asset, real-time platform for trading, processing, and risk management with strong collateral and margin management capabilities. It is a direct competitor in the same collateral intelligence category serving banks and buy-side institutions.
- Murex: Murex is a leading cross-asset trading, risk, and post-trade platform for capital markets, including derivatives margin and collateral analytics. It directly competes with Cassini in providing margin/collateral intelligence to financial institutions, with a broader but overlapping product scope.
- TS Imagine: TS Imagine provides trading, risk, and post-trade solutions for prime brokers and hedge funds. Cassini has an active partnership with TS Imagine (Oct 2023), but TS Imagine's own platform includes margin analytics capabilities that overlap with Cassini's product scope.
Broad incumbents
- Bloomberg (Multi-asset Margin & Margin Manager): Bloomberg's Multi-asset Margin (MMS) and Margin Manager offerings provide margin analytics and workflows for derivatives users. As a broad incumbent with deep terminal penetration at hedge funds and asset managers, it competes for the same budget line items as Cassini.
- Broadridge Financial Solutions: Broadridge is a large incumbent providing post-trade, securities processing, and collateral/margin solutions including its LTX platform. It overlaps with Cassini's analytics but offers a much wider suite of services to the same institutional client base.
- FIS (Fidelity National Information Services): FIS provides capital markets and treasury solutions including margin analytics for derivatives and securities financing. As a broad incumbent with deep relationships across global banks, it competes with Cassini for collateral and risk analytics spend at enterprise customers.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks7 records
Key highlights7 records
Customer concentration
Cassini social profiles
Digital presenceCassini compliance and trust
Trust signalCompliance2 records
Cassini financial estimates
Financial estimateRevenue estimate
Valuation estimate
Cassini leadership team
Management profileNumber of profiles
Profiles10 records
Cassini funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Cassini M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Cassini
What does Cassini do?
Cassini provides a front-to-back margin and collateral analytics platform for derivatives market participants, covering cleared OTC, bilateral OTC, ETD and prime broker portfolios. The platform delivers pre-trade margin simulation, intra-day margin drivers and attribution, post-trade collateral optimization, stress testing and forecasting, UMR compliance (AANA, SIMM, GRID), and clearing broker reconciliation. It is delivered as a Single-Tenant Hosted solution on AWS with API integration, a web UI, and secure file transfer capabilities.
Is Cassini a public or private company?
Cassini is a private company. It is classified as venture growth investor backed and is currently operating.
When was Cassini founded?
Cassini was founded in 2014. It employs 11 to 50 people.
Where is Cassini based?
Cassini is headquartered in City Of London, United Kingdom, in the Europe region.
How does Cassini make money?
One revenue line is on record: saaS/Analytics Platform Subscription.
Who are Cassini's main competitors?
Direct peers on record are AcadiaSoft (Acadia), CloudMargin, SmartStream Technologies, TriOptima (CME Group), Calypso Technology (ION Group), Murex and TS Imagine. Broad incumbents are Bloomberg (Multi-asset Margin & Margin Manager), Broadridge Financial Solutions and FIS (Fidelity National Information Services).
Does Cassini have an API?
Yes. Cassini provides extensive API integration capabilities that enable seamless incorporation of margin and collateral analytics into existing systems across every stage of the trade lifecycle. The API empowers users to integrate Cassini into their existing workflows, integrating capabilities across pre-trade analysis, comprehensive analytics, and real-time monitoring of margins and costs.
What industry is Cassini in?
Cassini's product category is Derivatives Margin and Collateral Analytics Software. Its primary akta.pro industry code is FSACADAK, Derivatives Collateral & XVA (CSA, CVA/FVA/KVA), with a secondary code of FSAFAOAL, Best Execution & TCA Compliance. Its NAICS code is 522320 and its SIC code is 7374.