MCAP Inc. Expands ETF Division and Announces Senior Hire

Rhea-AI Summary

MCAP Inc. (OTC: MCAP), a financial technology company, has announced a senior hire in its ETF division with the appointment of Nicholas Phillips as Director of ETF Capital Markets. This strategic move aims to enhance the company's ETF market-making and liquidity services for its institutional clients. Mr. Phillips brings extensive experience from Van Eck Associates and Goldman Sachs, which is expected to strengthen MCAP's competitive position in the ETF sector. The company continues to focus on technological innovation and customer service within the financial markets.

Positive

• Appointment of Nicholas Phillips as Director of ETF Capital Markets.
• Phillips brings extensive experience from Van Eck Associates and Goldman Sachs, enhancing MCAP's expertise.
• Strategic hire aimed at expanding ETF market-making and liquidity services.

Negative

• None.

NEW YORK, May 4, 2022 /PRNewswire/ -- MCAP Inc. (OTC: MCAP), a financial technology company and electronic securities market maker, today announced a senior hire in its Exchange Traded Funds ("ETF") division. The company's broker dealer subsidiary, MCAP LLC, hired Nicholas Phillips as Director of ETF Capital Markets.  He will play key role in the expansion and growth of the company's ETF market making and liquidity services to MCAP LLC's institutional customer base.  MCAP LLC continues to position itself as a leading technology, execution & customer service driven market maker.

Mr. Phillips joins MCAP from Van Eck Associates where he served as Director of ETF Capital Markets. Prior to joining Van Eck, he was an ETF Market Maker at firms including Goldman Sachs; Gelber, Old Mission, and Susquehanna.  At MCAP, he will be focused on continued expansion of MCAP's ETF infrastructure and functionality to support customers execution and liquidity needs.

Will Dennis, President at MCAP, stated, "Nick's time on the issuer side of the business working on ETF liquidity, product structure and market formation, paired with his extensive market making experience, provides MCAP a significant competitive advantage in ETF space. We are excited to have Nick join our team and look forward to improving our existing offering to our customers."

David Menn, CEO at MCAP, commented, "We are excited to have Nick join as we expand further into ETF's. Nick's expertise in international equity ETF's is a great fit for us and we look forward to providing liquidity as a service to our existing and expanding customer base, in addition to providing them access to our trading technologies and platforms."  

MCAP Inc. operates as a financial technology company. The company has three subsidiaries- MCAP Technologies LLC, MBIT LLC and MCAP LLC. MCAP Technologies LLC develops financial technology software utilized in various global financial markets. MBIT LLC is a digital asset company focused on crypto-currency, decentralized finance (DeFi) protocols and blockchain integration in the global financial markets. The company's subsidiary MCAP LLC is a U.S. based broker-dealer focused on electronic securities market making. MCAP LLC connects institutional investors, broker-dealers and companies to the global equity and fixed income markets on a 24/7 basis. MCAP focuses on developing technologies to provide customers with customized trading solutions and unique market access.

Please visit our website:  www.mcaptech.com

Forward-Looking Statements

This release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. The matters discussed in this news release involve goals, forecasts, assumptions, risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements.

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SOURCE MCAP Inc.

FAQ

What recent changes have occurred at MCAP Inc. (MCAP) regarding its ETF division?

MCAP Inc. appointed Nicholas Phillips as the new Director of ETF Capital Markets, aiming to enhance its ETF market-making capabilities.

Who is the new Director of ETF Capital Markets at MCAP?

Nicholas Phillips has been appointed as the new Director of ETF Capital Markets at MCAP.

How does Nicholas Phillips' experience benefit MCAP Inc.?

Phillips' experience from firms like Van Eck and Goldman Sachs is expected to provide MCAP with a significant competitive advantage in the ETF market.

What is the primary goal of MCAP's expansion in the ETF sector?

The primary goal is to enhance market-making and liquidity services for institutional clients.

When did MCAP Inc. announce the hiring of Nicholas Phillips?

MCAP announced the hiring of Nicholas Phillips on May 4, 2022.