Cobalt deploys 4OTC’s post-trade data normalization service, TicketLounge

Rick Steves

Cobalt and its clients can leverage a single FIX API to connect risk management systems, execution venues, asset custodians, clearing mechanisms, and settlement services.

Cobalt, a provider of risk and settlement infrastructure for FX and digital assets, has gone live with 4OTC’s new TicketLounge service to capture and normalise post trade data onto a single FIX API.

4OTC was recently founded and has already launched two products in four months, with TicketLounge being the latest from the FinTech connectivity specialist for FX and digital assets.

The solution enables post trade automation by providing a robust and reliable infrastructure that utilises redundant, multi-regional, connectivity to major FX ECNs and digital asset exchanges.

Cobalt and its clients can leverage a single FIX API to connect risk management systems, execution venues, asset custodians, clearing mechanisms, and settlement services.

TicketLounge supports digital assets, FX spot, forwards, swaps, NDFs and NDF swaps and has full support for all regulatory fields. Operating in London, New York and Tokyo, it is certified against all major FX ECNs.

Alexis Atkinson, Co-Founder of 4OTC, said: “We are delighted to work again with Cobalt. TicketLounge delivers the same benefits for STP as our 1API service does for market data and execution. TicketLounge provides a single API for receiving STP tickets, across all significant venues, for FX and Digital Assets.

“By delivering a back office process using front office technology, including the same low latency components used for market data and trading, we ensure that tickets are delivered to their end destination as fast as possible.”

Darren Coote, CEO of Cobalt, commented: “4OTC provides a wealth of experience in both FX and Digital Assets. Importantly 4OTC has demonstrated on multiple occasions the ability to deliver on time and to aggressive timelines, making them the ideal partner as we expand our footprint in FX post-trade while providing a market-ready network for institutional Digital Asset trading. This partnership enables us to provide full venue coverage and an unrivalled suite of post-trade services for our customers.”

In February this year, it was announced that Cobalt was also using 4OTC’s first service, 1API to connect with market data in the Digital Asset and FX Markets.

The lack of institutional-grade infrastructure for market data, matching, credit, and collateral management has come as an opportunity for financial technology firms like 4OTC and Cobalt. Their offerings allow clients to transition between FX and Digital Assets to maximize efficiency and profit.

The connectivity will increase Cobalt’s access to market data venues, streamline data management, and reduce the time taken to connect with new venues.

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