Firms Link for Digital FIX Gateway
Posted by Colin Lambert. Last updated: February 12, 2021
Risk and settlement provider Cobalt has announced a partnership with EPAM Systems to create what the firms say will be the first institutional-grade FIX gateway for the digital asset markets – providing connectivity to over 50 digital asset exchanges and market makers.
The new service will be hosted on Cobalt’s Institutional Infrastructure, and the FIX gateway will mitigate the problem of “lost orders” while removing the risk of breaking limits or over trading by providing low latency pre-trade credit checking for digital assets and FX.
With institutional investors increasingly looking to enter the digital asset market, and with expanding regulatory oversight, the new service will offer connectivity, pricing and pre-trade credit checks for market participants, as well as Cobalt’s post-trade services.
“As the appeal of digital assets continues to grow, we have a unique opportunity to reshape market infrastructure for digital assets and FX,” says Adrian Patten, chairman and co-founder of Cobalt. “Industry leading technology, products and services are central to our partnership with EPAM. Together, we will provide a gateway for all market participants to trade safely, reduce market risk and achieve secure real-time settlement. EPAM’s engineering talent and deep market knowledge make them an ideal partner when creating a critical new solution for a rapidly growing market environment.”
The service will be based on the Real-Time Computing Lab at EPAM’s TimeBase and Ember software, which have been the foundational components of their multi-asset systematic trading and analytics solutions for more than 10 years.
Ilya Gorelik, VP, Real-Time Computing Lab at EPAM, says, “The combination of our time-tested software and experience of institutional trading firms with Cobalt’s post-trade FX services should set a new standard for trading in FX and digital assets.”