SBSE/A 0001960050 XXXXXXXX false false Capitolis Liquid Global Markets LLC 88-4400323 0001960050 CAPITOLIS LIQUID GLOBAL MARKETS LLC 11 WEST 42ND STREET FLOOR 15 NEW YORK NY 10036 11 WEST 42ND STREET FLOOR 15 NEW YORK NY 10036 2123885201 capitolis.com Jon Borer 646-480-5408 jonb@capitolis.com Jon Borer 646-480-5408 jonb@capitolis.com Capitolis Liquid Global Markets LLC Y N maintains a substantial security-based swap position has substantial counterparty exposure is highly leveraged to its capital position N N N N The Federal Reserve Board The Office of the Comptroller of the Currency The Federal Deposit Insurance Corporation The Farm Credit Administration The Federal Housing Finance Agency N The applicant will enter into total return swaps with other security-based swap dealers and will borrow money from an affiliated commercial paper issuer to fund the purchase or borrow of securities underlying the total return swaps, with an intention to remain market risk neutral. It will receive equity funding from its parent, Capitolis Inc., and from the commercial paper issuer. Limited Liability Company January DE X1 12-14-2022 N N Capitolis Liquid Global Markets LLC Y N Y Y Y N N Y N N Capitolis Liquid Global Markets LLC N N N N N N N N N N N N N N N N N N N N Capitolis Liquid Global Markets LLC N N N N N N Capitolis Liquid Global Markets LLC Y I CEO, Manager 01/2023 NA Y 003104053 Mr. Mandelzis is the CEO of Capitolis Inc, and a seasoned capital markets executive with prior leadership roles at EBS BrokerTec and Traiana. He has served on FX committees for the CFTC, Fed, Bank of England, and Bank of Canada, and has received multiple industry awards. I CFO, Manager 01/2023 NA Y 005714590 Ms. Baptiste Fiedler serves a Chief Financial Officer for Capitolis Inc. Prior to joining the firm Ms. Baptiste Fiedler held senior positions in finance at MediaMath Inc. a fast-growing AdTech startup. Before this she held various positions within the Morgan Stanley Investment Banking and Capital Markets division. I General Counsel 01/2023 NA Y 002976310 Mr. Wexler has nearly 30 years of experience in financial services. He previously served as Group General Counsel at NEX Group (formerly ICAP) as well as held leadership positions at Merrill Lynch and RBS Greenwich Capital. Mr. Wexler specializes in regulatory issues, corporate governance, and compliance frameworks for financial institutions. I Head of Structuring & Execution and Head of Operations 12/2023 NA Y 007730111 Ms. Henderson has 30 years of experience in structured finance and public sector investment. She previously led Public Sector, Structured Products & Sovereign Asset Management at FMS-SG, where she managed structured funding solutions and asset wind-down strategies. Prior to FMS-SG, Ms. Henderson held various roles in asset management and structured products at the Hypo Real Estate Group. Capitolis MAPS LLC DE Controlling General Member Interest 06/2023 NA Y 93-1972873 N/A I Director 05/2023 NA Y Mr. Berkovitz serves as Independent Manager of the firm, where he contributes to governance and regulatory oversight. Mr. Berkovitz is a former Commissioner of the U.S. Commodity Futures Trading Commission and previously served as General Counsel of the CFTC, bringing extensive legal and regulatory experience to the firm. I Director 05/2023 NA Y Ms. Nazareth serves as an Independent Manager of the firm and provides strategic oversight on regulatory capital formation, SEC inspections, and internal modeling transitions for derivates pricing. Ms. Nazareth is a former Commissioner of the U.S. Securities and Exchange Commission and previously served as Director of the SEC's Division of Market Regulation, bringing decades of regulatory and legal expertise to her governance role with the firm. I Chief Compliance Officer 06/2023 NA Y 006374938 Mr. Borer joined Capitolis in 2023 as Chief Risk Officer and Chief Compliance Officer. Prior to joining the firm, Mr. Borer spent nearly 10 years at Credit Suisse within the Bank's Global Equities division, where he held a number of strategic positions across trading, finance, and risk. Prior to Credit Suisse, Mr. Borer served as a Manager within PwC's risk consulting practice. I COO 05/2025 NA Y 004038319 Prior to joining the Capitolis as COO in May 2025, Mr. Naik served as COO at Pagaya (NASDAQ: PGY), where he helped build and scale the company through a successful public company transaction. Prior to that, he served a 23-year career at Goldman Sachs where he was a Partner in the Investment Banking Division. Ionic Funding LLC DE Non-Controlling Participation Interest 01/2023 C N 92-1358352 Ionic MTN Funding LLC DE Non-Controlling General Member Interest 07/2025 D N 33-3852174 Capitolis Liquid Global Markets LLC Capitolis Inc. Capitolis MAPS LLC DE General Member 06/2023 E Y 30-0964114 Capitolis Inc. Ionic Funding LLC DE General Member 01/2023 E Y 30-0964114 Capitolis Inc. Ionic MTN Funding LLC DE General Member 07/2025 E Y 30-0964114 Capitolis Liquid Global Markets LLC AMENDED Capitolis Liquid Global Markets LLC Item 11A CohnReznick LLP 1301 Avenue of the Americas New York NY 10019 01-03-2023 12-02-2024 CohnReznick LLP, an independent public accountant, was previously retained to provide the Applicant with audit services. Item 11A Global Relay 220 Cambie Street 2nd Floor Vancouver A1 V6B 2M9 01-03-2023 Global Relay is an electronic message archiving system, retained to archive the Applicant's electronic written communications. Item 11A Amazon Web Services 410 Terry Avenue North Seattle WA 98109 01-03-2023 Amazon Web Services has been retained by the Applicant for cloud hosting services. Item 11A Deloitte & Touche LLP 30 Rockefeller Plaza 41st Floor New York NY 10112 11-22-2024 Deloitte & Touche LLP, an independent public accountant, has been has been retained to provide the Applicant with audit services. Item 12A Capitolis Inc. 11 West 42nd St Floor 15 New York NY 10036 12-14-2022 Services agreement with the Applicant's parent company. Item 12B Capitolis Inc. 11 West 42nd St Floor 15 New York NY 10036 01-03-2023 Parent entity injects funding for a portion of Applicant's equity capital. Capitolis Liquid Global Markets LLC AMENDED 13A Capitolis Advisors LLC 000290462 under common control with applicant 11 West 42nd St Floor 15 New York NY 10036 12-14-2022 N N Y Capitolis Advisors LLC and the applicant are affiliates under common control. Capitolis Global Broker Dealer LLC 000325346 under common control with applicant 11 West 42nd Street Floor 15 New York NY 10036 02-01-2023 N Y N Capitolis Global Broker Dealer LLC and the applicant are under common control. Capitolis UK Limited under common control with applicant 69 Old Broad Street London X0 EC2M 1QS 08-20-2018 Y X0 Y Y Capitolis UK Limited and the applicant are under common control. Capitolis Liquid Global Markets LLC AMENDED Capitolis Liquid Global Markets LLC Capitolis Liquid Global Markets LLC INITIAL 14A(2) One or more control affiliate(s) 004038319 Individual N Amol Naik N N Goldman Sachs (Asia) LLC Y Director Foreign Court Kuala Lumpur Magistrates Court Kuala Lumpur N8 WA-89-1003-08/2019 08-09-2019 Exact Malaysia Capital Markets & Services Act, 2007 Section 370(c), 367(1) and 179(c) 4 Felony N/A Y Investment Banking Services Final 09-03-2020 Exact Dismissed 09-03-2020 All court proceedings and/or processes in the case have been discontinued. There were no penalties or fines issued. 09-03-2020 0.00 09-03-2020 Mr. Naik was one of 17 Goldman Sachs executives who were charged by Malaysian authorities in August 2019 for their alleged roles in the 1MDB bond offerings. The charges against Mr. Naik were filed under Section 367(1) of the Capital Markets and Services Act of Malaysia, which holds directors responsible for offenses committed by their company, regardless of individual directors direct involvement. Mr. Naik was not individually implicated in any wrongdoing, beyond his role as a director of the entity during the relevant time period. All charges against Mr. Naik were dropped as part of a July 2020 settlement between Goldman Sachs and the Malaysian government, and he has not been subject to any related charges or investigations by US authorities. 08-11-2025 Capitolis Liquid Global Markets LLC /s/ Gil Mandelzis Gil Mandelzis Chief Executive Officer