Cobalt, which aims to reduce the cost, risk and complexity of Foreign Exchange post-trade processing, is using Solace to facilitate the event-driven flow of information. The FX industry experts are leveraging blockchain-inspired distributed ledger technology to cut cost and risk for FX market participants.

“By harnessing the relevant elements of distributed ledger technology, our private network significantly reduces post-trade cost and risk for financial market participants,” said Cobalt CEO Andy Coyne, who has been at the forefront of FX technological innovation for over two decades. “FX is a high speed, high throughput market, and Solace plays a mission-critical role by guaranteeing the rapid, reliable delivery of massive amounts of information.”

Cobalt’s solution combines best-of-breed technologies to create a robust, cost-effective post trade processing service.  Solace enables the fast, efficient, guaranteed delivery of information, acting as a buffer for high rates of inbound messages.

Cobalt selected Solace technology for its unique ability to guarantee the delivery of very large volumes of messages while protecting downstream systems from high burst rates during periods of exceptional market volume and volatility.

“FX is a high speed, high throughput market, and Solace plays a mission-critical role by guaranteeing the rapid, reliable delivery of massive amounts of information.”

Andy Coyne, CEO