The bank joins the likes of Citibank, Deutsche Bank and Saxo Bank.
Cobalt has announced yet another market participant to sign on to its foreign Exchange post-trade infrastructure, with Standard Chartered joining a growing list of large financial institutions to partner with the provider.
The purpose of Cobalt is to redesign post-trade Forex infrastructure and processes. To do this, the system’s automated technology matches all versions of a trade into one ‘trusted copy.’
By creating a trusted copy, the infrastructure generates one unchangeable data set of FX transactions. This is at odds with the current industry practice, where a single trade today creates multiple records for all parties. This leaves more room for error and inconsistencies throughout lifecycle events.
According to the statement released this Thursday, the signing of Standard Chartered, which is an emerging market bank, will allow more market participants to access Cobalt’s forex infrastructure.
Commenting on the announcement, Gareth James, Macro Trading COO at Standard Chartered, said in the statement: “As a global FX participant we realise the need for market standardisation."
“Within emerging markets, harmonising and centralising post-trade will mean greater efficiency. Cobalt’s technology solution delivers increased automation, which will allow us to not only realise cost savings but gain crucial credit management efficiencies with our counterparties, which is key for our emerging markets.”
Cobalt’s growing list of partnerships
Standard Chartered joins a growing list of market participants to partner with Cobalt. As Finance Magnates reported, Sucden Financial signed with Cobalt less than two weeks ago.
Darren Coote, CEO of Cobalt, added in the statement: “This latest addition to Cobalt’s network being one of the world’s major emerging market banks, with Standard Chartered, the network is continuing to diversify with the full scope of FX market participants."
“As the network grows, real-time cost savings will be realised by all our clients, and due to the central management of post-trade our clients can start to layer additional optimisation solutions that will have a positive impact on balance sheet usage.”
Cobalt has announced yet another market participant to sign on to its foreign Exchange post-trade infrastructure, with Standard Chartered joining a growing list of large financial institutions to partner with the provider.
The purpose of Cobalt is to redesign post-trade Forex infrastructure and processes. To do this, the system’s automated technology matches all versions of a trade into one ‘trusted copy.’
By creating a trusted copy, the infrastructure generates one unchangeable data set of FX transactions. This is at odds with the current industry practice, where a single trade today creates multiple records for all parties. This leaves more room for error and inconsistencies throughout lifecycle events.
According to the statement released this Thursday, the signing of Standard Chartered, which is an emerging market bank, will allow more market participants to access Cobalt’s forex infrastructure.
Commenting on the announcement, Gareth James, Macro Trading COO at Standard Chartered, said in the statement: “As a global FX participant we realise the need for market standardisation."
“Within emerging markets, harmonising and centralising post-trade will mean greater efficiency. Cobalt’s technology solution delivers increased automation, which will allow us to not only realise cost savings but gain crucial credit management efficiencies with our counterparties, which is key for our emerging markets.”
Cobalt’s growing list of partnerships
Standard Chartered joins a growing list of market participants to partner with Cobalt. As Finance Magnates reported, Sucden Financial signed with Cobalt less than two weeks ago.
Darren Coote, CEO of Cobalt, added in the statement: “This latest addition to Cobalt’s network being one of the world’s major emerging market banks, with Standard Chartered, the network is continuing to diversify with the full scope of FX market participants."
“As the network grows, real-time cost savings will be realised by all our clients, and due to the central management of post-trade our clients can start to layer additional optimisation solutions that will have a positive impact on balance sheet usage.”
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:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
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▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
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
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!