Press Release

Cobalt Goes Live with 4OTC for Post Trade FX and Digital Assets Connectivity

London, 15 June 2021

4OTC, the FinTech connectivity specialist for FX and digital assets, today announced that Cobalt, a provider of risk and settlement infrastructure for FX and digital assets, is using 4OTC’s new TicketLounge service to capture and normalise post trade data onto a single FIX API.

TicketLounge is 4OTC’s second product launch in only four months. In February this year, it was announced that Cobalt was also using 4OTC’s first service, 1API to connect with market data in the Digital Asset and FX Markets.

TicketLounge enables post trade automation by providing a robust and reliable infrastructure that utilises redundant, multi-regional, connectivity to major FX ECNs and digital asset exchanges.

Cobalt and its clients can leverage a single FIX API for connectivity, greatly reducing onboarding time, risks and costs. Cobalt’s 24/7 infrastructure connects risk management systems, execution venues, asset custodians, clearing mechanisms, and settlement services. Its robust engines ensure that market participants have access to best prices while credit providers and asset custodians maintain accuracy and oversight over market access.

Alexis Atkinson, Co-Founder of 4OTC said,

“We are delighted to work again with Cobalt. TicketLounge delivers the same benefits for STP as our 1API service does for market data and execution. TicketLounge provides a single API for receiving STP tickets, across all significant venues, for FX and Digital Assets. By delivering a back office process using front office technology, including the same low latency components used for market data and trading, we ensure that tickets are delivered to their end destination as fast as possible.”

Darren Coote, CEO of Cobalt said,

“4OTC provides a wealth of experience in both FX and Digital Assets.  Importantly 4OTC has demonstrated on multiple occasions the ability to deliver on time and to aggressive timelines, making them the ideal partner as we expand our footprint in FX post-trade while providing a market-ready network for institutional Digital Asset trading. This partnership enables us to provide full venue coverage and an unrivalled suite of post-trade services for our customers.”

TicketLounge supports digital assets, FX spot, forwards, swaps, NDFs and NDF swaps and has full support for all regulatory fields. Operating in London, New York and Tokyo, it is certified against all major FX ECNs.

About 4OTC

4OTC is a London-based FinTech, providing technology to address the challenges faced by OTC trading desks and Brokers in the Digital Asset and FX markets. Its products streamline connectivity in markets with a large number of venues and liquidity providers, all with different APIs and, for crypto markets, often inefficient JSON protocols.

Its first product, called 1API, manages connectivity for market data and execution. Liquidity in the FX market is already highly fragmented and as the trading of Digital Assets becomes increasingly institutionalised this market is expected to grow exponentially. This is expected to result in new trading venues being established, thereby increasing market fragmentation.