Cobalt expands OTC trading connectivity with 4OTC
While institutional demand for digital assets has become a reality within the trading industry, the future of the cryptocurrency ecosystem is still unknown as a wide number of top officials still regard Bitcoin et al as having no intrinsic value.
Cobalt has partnered with London-based connectivity services provider 4OTC in order to use the 1API to connect with market data in the Digital Asset and FX Markets.
The connectivity will increase Cobalt’s access to market data venues, streamline data management, and reduce the time taken to connect with new venues.
4OTC’s infrastructure addresses the challenges of OTC trading desks in the FX and Digital Asset markets as it offers low latency, scalable and secure connectivity for banks, market makers, and buy-side trading firms.
The firm’s 1API connects to multiple liquidity providers and venues in Digital Assets and FX markets and in good timing. The cryptocurrency ecosystem is on a roll. Bitcoin has broken through the $20,000 all-time high of 2017 only to continue its bullish journey during recent months. Bitcoin has since reached the $1 trillion market cap.
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.
Darren Coote, CEO of Cobalt, commented: “Since our expansion into Digital Assets last year, we have been pursuing partnerships that can grow our offering across both the Digital Assets and FX markets. We are pleased to be working with 4OTC, receiving a high-quality data feed consisting of FX and Digital Assets market data ensures we can provide a market-leading platform and infrastructure to our client base allowing them to navigate and connect between both markets without disruption.”
Alexis Atkinson, Founder of 4OTC, said: “In today’s fragmented FX and Digital Assets markets, low latency connectivity services are vital. This is a key focus for 4OTC. Recognizing the need for firms to connect to multiple venues and liquidity providers quickly, speed of onboarding is a crucial differentiator for our service, where we typically have clients and venues up and running in a matter of hours.“
“We are delighted to work with Cobalt as they expand their innovative market-leading services and look forward to continuing this partnership.”
While institutional demand for digital assets has become a reality within the trading industry, the future of the cryptocurrency ecosystem is still unknown as a wide number of top officials still regard Bitcoin et al as having no intrinsic value.
