Solace to power financial data movement for Cobalt
Solace, a leading provider of financial data movement, has announced that the fintech firm, Cobalt, is using its PubSub+ platform for its own platform which is used to deliver services and streaming to its clients.
Cobalt provides solutions for financial services for large firms like Citi, Standard Chartered, and others and has been working with Solace for the past four years. The fintech has developed solutions that would help firms to streamline their post-trade settlement processes by bringing in a single verifiable version of each trade to the client.
Darren Coote, CEO at Cobalt, commented: “Working with Solace has been overwhelmingly positive for the team at Cobalt. Our blue-chip customers demand we develop cutting-edge trading solutions. Across new trading domains, we needed a reliable tech partner to help us build out super-fast and solid modern infrastructures. Doing this with Solace allows our engineering team to focus their valuable time and energy on innovation which keeps Cobalt ahead of the game.”
Solace and Cobalt have worked together for many years and the confidence that they have developed over the years, in each other, has made Cobalt build its next generation of services on the Solace platform and help clients with solutions for digital and cryptocurrency trading.
Solace is an event management platform that works on-premises and on the cloud as well and this technology is used by Cobalt to seamlessly switch between these two areas and this, coupled with the reliability that the Solace platform provides, helps Cobalt to focus on building the business leaving the operating part for Solace to manage, the companies said.
Denis King, CEO at Solace, commented: “Companies like Cobalt live and die on the robustness, speed, and reliability of their trade execution and due diligence processes. These requirements are a perfect match for our event-driven architecture platform. In the vast fintech landscape, success often depends on data movement security and speed – and event-driven architecture serves as the backbone to make this happen. We look forward to continuing to support Cobalt in their quest to innovate and improve customer experiences.”
The technology used by Solace is the one that powers some of the largest financial institutions like the London Stock Exchange, Barclays, and others and it is this reliability that helps startups like Cobalt to build on them easily and reliably as well as scale the operations when needed.