Singapore Exchange backs Cobalt FX post-trade network

  • master
  • 16.05.2018
  • Comments Off on Singapore Exchange backs Cobalt FX post-trade network
Singapore Exchange

Singapore Exchange (SGX) has made a strategic investment in foreign exchange (FX) post-trade network, Cobalt.

The investment from SGX will support the continued expansion of Cobalt’s footprint into the FX space, accelerating technology development and building out its team.

Cobalt’s network uses optimised technology alongside an in-house ‘immutability’ service based on distributed-ledger technology (DLT) to deliver a shared, scalable back- and middle-office infrastructure. It creates a shared view of trade data, designed to free up back and middle office resources from multiple layers of reconciliation and create a ‘golden’ portfolio of FX transactions.

 “We are pleased to be supporting this important FX market infrastructure, which is complementary to our growing FX futures business and a natural fit for SGX given our own commitment to product and platform innovation,” said Michael Syn, head of derivatives at SGX.

“We look forward to seeing Cobalt continue to gain traction in the global post-trade FX market as they pioneer FX technology development, delivering cost and risk mitigation benefits to market participants across the world.”

The post Singapore Exchange backs Cobalt FX post-trade network appeared first on Copy Trading Platform.