Spotex FX ECN deploys Cobalt’s credit management tools

Rick Steves

The overallocation of credit is one of the ongoing pressure points in the FX markets. The solution protects clients’ exposure by providing automated monitoring solutions.

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Cobalt has teamed up with Spotex to provide clients with dynamic credit management tools. Through the partnership, Cobalt’s Risk Hub will be available for clients of Spotex’s FX electronic communication network (ECN).

Cobalt’s Risk Hub provides centralized management of real-time updates of exposure and credit risk. The overallocation of credit is one of the ongoing pressure points in the FX markets. The solution protects clients’ exposure by providing automated monitoring solutions.

Darren Coote, Chief Executive Officer of Cobalt said: “As today’s FX markets continue to evolve, new technology is needed to solve old problems with credit management front and center. Our work with Spotex in consolidating our dynamic credit offering is doing precisely that. Through the partnership, we are able to deliver our suite of real-time automated credit management and monitoring tools to more market participants at a time where transformation is gathering speed.”

John Miesner, Chief Executive Officer at Spotex, commented: “Credit runs at the very heart of our markets – but often, the details of managing credit open up too much risk and unwanted exposure for banks and intermediaries. With Cobalt, we are able to provide our FX clients with a complete real-time picture of their risk.

“Through our low-latency technology, we are providing banks and financial institutions with a very tangible solution for the age-old credit problems in FX. Additionally, as we broaden our product offerings, specifically in NDF’s & FX Forwards, alongside the Cobalt infrastructure, partnering with Cobalt was a logical decision. Furthermore, as Digital Asset opportunities continue to grow, we feel Cobalt’s existing involvement in the Digital space will be beneficial to Spotex as we enter this arena.”

Spotex provides brokers with an FX electronic communication network (ECN), proprietary technology, liquidity, and credit options so they can configure either an out-of-the-box or bespoke operating environment. The firm offers a wide range of solutions for the trading industry, from PAMM and MAM systems to Trade Copier/Social Trading, MT4 Bridge, Omnibus White Label, Introducing Broker, A or B Book, ECN Liquidity, and Broker Hub Liquidity.

Its Periscope solution supports multilevel credit and margin aggregation so clients can trade directly on the Spotex Institutional ECN or a Dedicated Broker Liquidity Hub.

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