Rewiring Capital Markets

With Omer Suleman

10 July 2026

Ian Simpson | 2 min read

When crypto and digital assets start to spread across capital markets, some things have to change.

Others do not… For banks, hedge funds, asset managers and others, some fundamentals hold true, regardless of whether capital markets move wholly or partially on-chain. To serve them – and change the industry in the process – Omer Suleman’s Haruko brings a full suite of portfolio and risk management tooling.

Long years of experience at household names like Goldman Sachs, Deutsche Bank and Citi have given him and his cofounders a view of what is needed.

As he explains on RULEMATCH Spot On with Ian Simpson, that is just one piece of the puzzle.

 

Show notes:

1:26 – Intro

2:17 – Institutions are “becoming”

5:08 – The systems of Goldman Sachs and Deutsche Bank

6:06 – Building Haruko because…

7:31 – The backstory of Haruko

10:07 – Hedge funds with the same “itch”

12:55 – Haruko as a tech stack

14:17 – Large prop shops in London

16:02 – Changing company structures among TradFi firms in crypto

18:02 – Haruko and tier-1 banks

21:39 – The special thing about crypto that banks must understand

23:47 – How banks are looking forward…

25:26 – The interesting thing about different tokenized equities

27:06 – What do banks prefer?

29:32 – The different risks that banks are evaluating

32:30 – Coming to terms with risk in crypto

35:09 – How hidden risks came to light with FTX

37:32 – The balancing act of separating market making from trade execution

39:15 – Why retail clients don’t do risk management

40:48 – Good old days in FX markets

43:45 – The part of crypto that is not like FX

45:42 – Building on Haruko’s superpowers

46:50 – OTC trading in crypto markets

51:09 – Evaluating the different flavors of RFQ trading

54:45 – The need for multi-dealer setups

56:22 – How crypto veterans will change the game

 

 

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Disclaimer: The information contained in this podcast about RULEMATCH AG (“RULEMATCH”) and any guest company is for general informational purposes only and should not be considered exhaustive. They do not imply any elements of a contractual relationship nor any offering.