“This new approach to credit management has helped eliminate carve-outs as well as reduce credit usage while improving our market access. This capability benefits our customers, counterparties, and the bank.”
Australia and New Zealand Banking Group (ANZ) has announced its integration with CobaltFX’s Dynamic Credit platform, marking a significant advancement in managing credit exposure for foreign exchange (FX) trades across interbank trading venues.
By adopting CobaltFX’s platform, ANZ aims to streamline the management of credit exposure through a unified global limit set, enabling dynamic distribution of credit availability across multiple trading venues.
Reduce credit usage
David Thorne, ANZ’s Head of eFICC Europe and North America commented: “This new approach to credit management has helped eliminate carve-outs as well as reduce credit usage while improving our market access. This capability benefits our customers, counterparties, and the bank.”
CobaltFX, acquired by United Fintech last year, specializes in dynamic credit and post-trade automation for the foreign exchange (FX) market. It aims to re-engineer the FX world with a focus on credit optimization and post-trade processes. The platform offers a comprehensive solution for credit and post-trade FX infrastructure, aiming to increase profitability, control, and efficiency for financial institutions.
CobaltFX has garnered recognition for its market innovation and environmental, social, and governance (ESG) initiatives in the FX market. The acquisition and subsequent integration into United Fintech have allowed CobaltFX to benefit from synergies across partner companies, enhancing its global distribution, sales, and marketing efforts. Despite operating independently, CobaltFX’s clients have been successfully migrated onto the United Fintech platform.
Darren Coote, CEO of CobaltFX expressed: “It’s a pleasure to welcome ANZ to the CobaltFX community of market leaders who are dedicated to transforming the nature of the FX market by reducing risk and enhancing market access for all.”