4th February 2020:
Cobalt, the foreign exchange (FX) post trade infrastructure, has announced today that Citi intends to go live on its infrastructure for bilateral trading.
Applicable across a variety of FX trading types – including banks, buyside, prime brokers and retail brokers – Cobalt’s infrastructure creates a standardised joint record of all FX trades. From this unique data set, Cobalt offers a multitude of back and middle office solutions such as credit management, netting, and finality services.
By embracing a joint, standardised record of all trades, clients can manage all major post-trade services in a unified platform. This dramatically reduces duplication, costs and mitigates risk across the trade lifecycle.
Citi will continue as an investor and shareholder in Cobalt.