The cost of post-trade processing for the forex industry amounts to billions of dollars each year. For years industry participants have been looking at ways to lower this cost through automation and individual solutions.
It appears that the partnership announced today is one of the latest attempt to find a way to reduce this burden. Under the agreement, IHS Markit has made a strategic investment in Cobalt, and it will partner with the company to sell and deliver the new solution once it is ready.
MarkitSERV and Cobalt solution to replace legacy technology
According to the statement, the new solution that MarkitSERV and Cobalt will offer will be designed to replace legacy technology and manual processes. Together the companies will offer shared post-trade infrastructure, with the aim to reduce operational risks of the forex market and bring increased efficiency.
Already MarkitSERV and Cobalt’s systems have been integrated, allowing trade data from MarkitSERV’s network of more than 800 FX counterparties and venues to flow into the Cobalt platform.
Commenting on the collaboration, Chris Leaver, the managing director and head of FX at MarkitSERV said: “This collaboration marks the start of a major transformation in FX infrastructure."
“The majority of the FX industry is already integrated with the MarkitSERV network and we now offer the community turn-key access to the Cobalt platform and the opportunity to radically streamline post-trade workflows. This partnership is a natural extension of MarkitSERV’s core strategy of centralizing and normalizing post-trade processing across all asset classes.”
“Joining forces with IHS Markit will allow us to rapidly scale our solution and deliver a state-of-the-art shared middle and back office infrastructure to the global FX community, dramatically improving efficiency across the board,” continued Adrian Patten, co-founder and chairman, at Cobalt.
“For too long, FX has been burdened by an aging, inefficient post-trade environment. Our high-performance technology has been designed to replace legacy infrastructure and inefficient processes, as well as significantly slash cost and risk for this five trillion dollar a day market,” he added.
The cost of post-trade processing for the forex industry amounts to billions of dollars each year. For years industry participants have been looking at ways to lower this cost through automation and individual solutions.
It appears that the partnership announced today is one of the latest attempt to find a way to reduce this burden. Under the agreement, IHS Markit has made a strategic investment in Cobalt, and it will partner with the company to sell and deliver the new solution once it is ready.
MarkitSERV and Cobalt solution to replace legacy technology
According to the statement, the new solution that MarkitSERV and Cobalt will offer will be designed to replace legacy technology and manual processes. Together the companies will offer shared post-trade infrastructure, with the aim to reduce operational risks of the forex market and bring increased efficiency.
Already MarkitSERV and Cobalt’s systems have been integrated, allowing trade data from MarkitSERV’s network of more than 800 FX counterparties and venues to flow into the Cobalt platform.
Commenting on the collaboration, Chris Leaver, the managing director and head of FX at MarkitSERV said: “This collaboration marks the start of a major transformation in FX infrastructure."
“The majority of the FX industry is already integrated with the MarkitSERV network and we now offer the community turn-key access to the Cobalt platform and the opportunity to radically streamline post-trade workflows. This partnership is a natural extension of MarkitSERV’s core strategy of centralizing and normalizing post-trade processing across all asset classes.”
“Joining forces with IHS Markit will allow us to rapidly scale our solution and deliver a state-of-the-art shared middle and back office infrastructure to the global FX community, dramatically improving efficiency across the board,” continued Adrian Patten, co-founder and chairman, at Cobalt.
“For too long, FX has been burdened by an aging, inefficient post-trade environment. Our high-performance technology has been designed to replace legacy infrastructure and inefficient processes, as well as significantly slash cost and risk for this five trillion dollar a day market,” he added.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Finance Magnates Annual Awards 2024 | FM Awards 2024 Highlights
Finance Magnates Annual Awards 2024 | FM Awards 2024 Highlights
🎥Catch the best moments from the Finance Magnates Annual Awards Gala Dinner!
An evening where top names in finance came together to celebrate achievements, enjoy live music, and connect over a memorable dinner. Watch the highlights and feel the energy of our first gala in Cyprus!
Congratulations to all the winners for their dedication to excellence and leadership in the financial industry, including XM, Trading PRO, FP Markets, Deriv, FxPro, LATAM, Headway, ATFX, FBS, AMEGA, EC Markets, Axi
For more information about the 1st Finance Magnates Annual Awards, visit https://bit.ly/3Zb7wNz
#FinanceMagnatesGala #IndustryExcellence #GalaHighlights #FinanceMagnatesAnnualAwards #FinanceMagnatesAwards #CelebratingSuccess #FinanceCommunity
🎥Catch the best moments from the Finance Magnates Annual Awards Gala Dinner!
An evening where top names in finance came together to celebrate achievements, enjoy live music, and connect over a memorable dinner. Watch the highlights and feel the energy of our first gala in Cyprus!
Congratulations to all the winners for their dedication to excellence and leadership in the financial industry, including XM, Trading PRO, FP Markets, Deriv, FxPro, LATAM, Headway, ATFX, FBS, AMEGA, EC Markets, Axi
For more information about the 1st Finance Magnates Annual Awards, visit https://bit.ly/3Zb7wNz
#FinanceMagnatesGala #IndustryExcellence #GalaHighlights #FinanceMagnatesAnnualAwards #FinanceMagnatesAwards #CelebratingSuccess #FinanceCommunity
FMLS:24 | Shaping the Next Era of Financial Evolution
FMLS:24 | Shaping the Next Era of Financial Evolution
Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights.
👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo
#fmls #fmls24 #fmevents #financemagnates #forex #payments #crypto #events #london #fintech #ai #generativeai #technology #onlinetrading #forex #investing #investors #tech
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights.
👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo
#fmls #fmls24 #fmevents #financemagnates #forex #payments #crypto #events #london #fintech #ai #generativeai #technology #onlinetrading #forex #investing #investors #tech
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!