21st February 2022 – London
Cobalt has released the results of a pilot programme run with seven major FX banks across 10 trading venues, which indicate that credit utilisation could be reduced by more than 50%.
For the pilot, Cobalt received live data from all 10 venues for spot interbank transactions among the banks in the group. It says that from one weeks’ worth of data there was a 47% reduction in the utilisation of credit with one highly active bank achieving a 60% reduction.
Read more about the initiative via the following article: https://thefullfx.com/cobalt-pilot-a-big-moment-for-fx-industry