The FIX gateway reduces issues with “lost orders” and provides low latency pre-trade credit checking for digital assets and FX, thus removing the risk of breaking limits and over-trading.
Cobalt has partnered with risk and settlement infrastructure EPAM Systems to create an institutional-grade FIX gateway for the digital asset markets. The product will provide connectivity to over 50 digital asset exchanges and market makers and ensure real-time settlement with security.
Cobalt’s post-trade services will also be included in the new service which offers connectivity, pricing, and pre-trade credit checks for market participants. EPAM’s multi-asset systematic trading and analytics solution is based on the Real-Time Computing Lab at EPAM’s TimeBase and Ember software.
Adrian Patten, Chairman and co-founder of Cobalt, said: “As the appeal of digital assets continues to grow, we have a unique opportunity to reshape market infrastructure for DA and FX. 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.”
EPAM’s Real-Time Computing Lab VP Ilya Gorelik expects “the combination of our time-tested software and experience of institutional trading firms with Cobalt’s post-trade FX services” to set a new standard for trading in FX and digital assets. The new service is fully compliant with market-leading FX clients’ regulatory requirements.
Cobalt has recently partnered with Metaco to build an institutional-grade Software as a Service (SaaS) solution for digital asset settlement. The lack of available institutional-grade infrastructure has come as an opportunity to integrate METACO’s institutional operating system for digital assets, SILO, with Cobalt’s interoperable FX and digital assets platform. The result of the team-up is an end-to-end SaaS solution for the storage, limit allocation, and intraday settlement of digital assets.
