24 Exchange
has commenced live trading of foreign exchange (Forex) swaps using CobaltFX’s
Dynamic Credit process, the companies announced today (Thursday). The
integration aims to improve credit intermediation and enhance liquidity
efficiency for market participants.
24 Exchange Begins FX
Swaps Trading with CobaltFX Credit System
24 Exchange, a
multi-asset trading platform, has incorporated CobaltFX’s credit management
system to allow traders to allocate available credit lines in real-time. The
Dynamic Credit process enables counterparties to establish pre-set credit
relationships that adjust based on current trading conditions.
“We
are thrilled to be live with FX swaps trading and to offer our clients a more
efficient, cost-effective trading environment,” said Jason Woerz,
President of 24 Exchange. “The collaboration with CobaltFX allows us to
redefine how credit is managed in the FX market, giving participants
unprecedented access to liquidity.”
According
to the press release sent to FinanceMagnates.com, the system is designed
to address traditional limitations in FX swaps markets, where credit
constraints and operational inefficiencies have historically created barriers.
By dynamically managing credit exposure, the companies say traders can access
deeper liquidity pools while reducing counterparty risk.
“24
Exchange’s adoption of our Dynamic Credit process is a testament to its ability
to revolutionize credit management in FX markets,” said Darren Coote, CEO
of CobaltFX. “By optimizing credit usage in real-time, we are helping the
industry reduce risk while increasing efficiency and transparency.”
SEC Approval and LCH
ForexClear Parntership
24 Exchange
also recently expanded into
the United States market after obtaining regulatory clearance from the
Securities and Exchange Commission (SEC) to operate a securities exchange,
according to company sources.
The firm
has established its US presence under the name 24X National Exchange , which
will offer trading of US securities for 23 hours per business day. This
extended schedule aims to provide greater flexibility compared to traditional
market hours.
This
development comes shortly after the Bermuda-headquartered company achieved
another milestone last month. 24 Exchange gained
approval as an authorized trade source for foreign exchange non-deliverable
forward (NDF) clearing at LCH ForexClear, a unit of the London Stock
Exchange Group.
Part of United Fintech
Group
CobaltFX, founded in
2015 and now part
of United Fintech Group, developed the Dynamic Credit distribution system
to eliminate carve-outs and automate FX credit allocation. The companies say
this provides real-time control over credit exposure across all FX products and
market access points.
This year,
United Fintech expanded into trade finance and payment solutions through the
acquisition of Commercial Banking Applications (CBA), a provider of
API-based platforms for trade finance and payment processing.
24 Exchange
has commenced live trading of foreign exchange (Forex) swaps using CobaltFX’s
Dynamic Credit process, the companies announced today (Thursday). The
integration aims to improve credit intermediation and enhance liquidity
efficiency for market participants.
24 Exchange Begins FX
Swaps Trading with CobaltFX Credit System
24 Exchange, a
multi-asset trading platform, has incorporated CobaltFX’s credit management
system to allow traders to allocate available credit lines in real-time. The
Dynamic Credit process enables counterparties to establish pre-set credit
relationships that adjust based on current trading conditions.
“We
are thrilled to be live with FX swaps trading and to offer our clients a more
efficient, cost-effective trading environment,” said Jason Woerz,
President of 24 Exchange. “The collaboration with CobaltFX allows us to
redefine how credit is managed in the FX market, giving participants
unprecedented access to liquidity.”
According
to the press release sent to FinanceMagnates.com, the system is designed
to address traditional limitations in FX swaps markets, where credit
constraints and operational inefficiencies have historically created barriers.
By dynamically managing credit exposure, the companies say traders can access
deeper liquidity pools while reducing counterparty risk.
“24
Exchange’s adoption of our Dynamic Credit process is a testament to its ability
to revolutionize credit management in FX markets,” said Darren Coote, CEO
of CobaltFX. “By optimizing credit usage in real-time, we are helping the
industry reduce risk while increasing efficiency and transparency.”
SEC Approval and LCH
ForexClear Parntership
24 Exchange
also recently expanded into
the United States market after obtaining regulatory clearance from the
Securities and Exchange Commission (SEC) to operate a securities exchange,
according to company sources.
The firm
has established its US presence under the name 24X National Exchange , which
will offer trading of US securities for 23 hours per business day. This
extended schedule aims to provide greater flexibility compared to traditional
market hours.
This
development comes shortly after the Bermuda-headquartered company achieved
another milestone last month. 24 Exchange gained
approval as an authorized trade source for foreign exchange non-deliverable
forward (NDF) clearing at LCH ForexClear, a unit of the London Stock
Exchange Group.
Part of United Fintech
Group
CobaltFX, founded in
2015 and now part
of United Fintech Group, developed the Dynamic Credit distribution system
to eliminate carve-outs and automate FX credit allocation. The companies say
this provides real-time control over credit exposure across all FX products and
market access points.
This year,
United Fintech expanded into trade finance and payment solutions through the
acquisition of Commercial Banking Applications (CBA), a provider of
API-based platforms for trade finance and payment processing.
This post is originally published on FINANCEMAGNATES.
