FX industry experts leveraging blockchain-inspired distributed ledger technology to cut cost and risk for FX market participants
Ottawa, Ontario, October 19, 2017 – Solace, the leading provider of open data movement technology, announced today that Cobalt, which aims to reduce the cost, risk and complexity of FX post-trade processing, is using Solace to facilitate the event-driven flow of information.
“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.