Cobalt DL targets FX post-trade processing costs

Financial technology firm Cobalt DL has commenced beta testing with a number of leading FX participants on its private peer-to-peer network that uses distributed ledger technology to significantly cut post-trade cost and risk.

First Published by e-Forex News: September, 2016

Andy Coyne
Andy Coyne

Financial technology firm Cobalt DL has commenced beta testing with a number of leading FX participants on its private peer-to-peer network that uses distributed ledger technology to significantly cut post-trade cost and risk. By creating a single, shared view of a transaction, Cobalt DL frees up back and middle office resources that are currently overwhelmed by the need for continuous reconciliation across multiple systems. Andy Coyne, Co-Founder of Cobalt DL, comments: “The emergence of agile, sophisticated technology such as distributed ledgers has set the scene for an alternative to the inflexible post-trade infrastructure that financial market participants are forced to use today. Cobalt DL’s combination of market expertise and forward-thinking technology is dramatically shaking up the post-trade space and significantly reducing costs for market participants.”