Cobalt’s post-trade infrastructure creates a single trusted set of standardised trade data from which Sucden Financial can utilise Cobalt’s range of middle and back office trade solutions, including its Core Credit module. Sucden Financial is accessing Cobalt’s broad range of services via IHS Markit’s connectivity service.
Post-trade FX processes are currently siloed and unfit for modern markets. This is highlighted within credit management, where processes can be opaque and create high risk of exposure to credit owners alongside problematic pricing.
Cobalt’s Core Credit solution offers a centralised credit management tool for all relationship types, allowing credit owners to control and manage lines using real-time monitoring tools.
Gavin Parker, COO from Sucden Financial, said: “We continually enhance our services, utilising the latest technology to increase efficiencies for clients. Cobalt provides an exciting cutting-edge solution, enabling us to further expand our institutional FX offering.”
Darren Coote, CEO of Cobalt, commented: “Credit management within FX has long been a problematic area for all market participants. With further adoption of Cobalt’s technology across a variety of market participants, we are working towards centralised infrastructure for the future of FX.”
About Sucden Financial
A leading international derivatives and FX broker, Sucden Financial provides access to a broad range of markets, including exchange and OTC traded products, including foreign exchange and bullion.
The company was formed in 1973 as the London brokerage arm of Sucden, an independent leader in soft commodities trading. Sucden Financial has since evolved into one of the largest brokers for traders, fabricators, producers, consumers, investment houses, hedge funds, commodity firms and retail brokers.
Sucden Financial has been providing a wide variety of foreign exchange services to corporate and institutional clients for over 30 years. Its financial strength, expertise, established infrastructure and tier one direct banking relationships mean it is well positioned to provide superior FX liquidity and a full spectrum of services.