Cobalt Partners with Spotex
Posted by Colin Lambert. Last updated: February 18, 2021
Cobalt has partnered with Spotex to make the former’s Risk Hub available to the latter’s clients., thus providing them with dynamic management tools.
Cobalt’s Risk Hub provides centralised management of real-time updates of exposure and credit risk with automated real-time credit limits and controls, including designation notices, and credit optimisation.
By providing a solution to the overallocation of credit, the companies say their partnership directly addresses ongoing pressure points in the FX markets. Both companies alleviate the risks of legacy technology while protecting clients’ exposure by providing automated monitoring solutions
“As today’s FX markets continue to evolve, new technology is needed to solve old problems with credit management front and centre,” says Darren Coote, CEO of Cobalt. “Our work with Spotex in consolidating our dynamic credit offering is doing precisely that. Through the partnership, we are able to deliver our suite of real-time automated credit management and monitoring tools to more market participants at a time where transformation is gathering speed.”
John Miesner, Spotex CEO adds, “Credit runs at the very heart of our markets – but often, the details of managing credit opens up too much risk and unwanted exposure for banks and intermediaries. With Cobalt, we are able to provide our FX clients with a complete real-time picture of their risk. Through our low-latency technology, we are providing banks and financial institutions with a very tangible solution for the age-old credit problems in FX.
“Additionally, as we broaden our product offerings, specifically in NDF’s and FX forwards, alongside the Cobalt infrastructure, partnering with Cobalt was a logical decision. Furthermore, as digital asset opportunities continue to grow, we feel Cobalt’s existing involvement in the digital space will be beneficial to Spotex as we enter this arena.”