Cobalt triumphs at the American Financial Technology Awards winning Best Trading Infrastructure Provider 2017

New York, 5 December, 2017

Cobalt was celebrated as Best Trading Infrastructure Provider at this year’s American Financial Technology Awards (AFTA), which took place last night at the New York Marriott Marquis.

Hosted by Waters magazine and WatersTechnology.com, the AFTA recognise excellence in the deployment and management of financial technology within the asset management and investment banking communities. Cobalt was honoured for its success developing a unique private network that dramatically reduces risk and post-trade costs for financial market participants by up to 80%.

Cobalt addresses major issues in legacy post-trade infrastructure which is inefficient and unfit for today’s foreign exchange (FX) market. Harnessing the appropriate elements of distributed ledger technology alongside its own proprietary technology. Cobalt is reengineering the financial markets, creating a confirmed, shared and normalised portfolio of trade data, which frees up back and middle office resources significantly.

The company’s fully-functioning beta environment processes over 100,000 trades a day, with information flowing seamlessly through the pre-ledger environment to the ledger.

Andy Coyne, Co-Founder of Cobalt, comments: “Cobalt offers an elegant and innovative solution to existing issues in post-trade FX and this award reflects the positive response we have received to-date. Recognising that shared infrastructure is collaborative in nature, we have consistently partnered with the best-in-breed business and technology partners to achieve our vision. Together, we are building a revolutionary post-trade environment that is fit for modern markets.”