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The companies say the partnership could evolve the FX swaps market.
24Exchange Bermuda Trading Ltd., a multi-asset trading platform, has partnered with CobaltFX, a subsidiary of credit and post-trade infrastructure provider United Fintech, to offer live FX swaps trading to customers.
Officials say the partnership addresses key issues in the FX swaps market that have long stymied the growth of the business, including credit limitations and operational inefficiencies. The partnership aims to optimize credit intermediation, reduce operational risk, and improve liquidity efficiency for market participants.
24 Exchange has implemented CobaltFX’s Dynamic Credit system, which lets traders adjust credit lines in real-time based on market conditions. The system also enables counterparties to set credit terms ahead of time and allocate credit as needed during trades, allowing them to manage capital more efficiently and reduce the need for pre-funding.
Officials hope the implementation of the new technology will deepen liquidity pools, allowing for larger trades to be executed while reducing counterparty risk. The companies say that bringing live trading and flexible credit allocation to the FX swaps market could encourage broader participation and greater transparency, helping the market evolve beyond its current limitations.
- Read More:
- FX credit,
- FX swaps trading,
- United Fintech,
- credit,
- data management
