Bermuda-based trading venue 24 Exchange has gone live with FX swaps trading products, which make use of CobaltFX’s credit technology.
Called Dynamic Credit, the set up means that market participants can pre-set credit terms with counterparties and then have them alter, in real time, as market conditions change.
The technology means that companies trading swap products can access them with greater capital efficiency and lower counterparty risk.
“We are thrilled to be live with FX swaps trading and to offer our clients a more efficient, cost-effective trading environment,” said 24 Exchange President Jason Woerz.
“The collaboration with CobaltFX allows us to redefine how credit is managed in the FX market, giving participants unprecedented access to liquidity.”
Technology provider CobaltFX was launched a decade ago.
In 2022, the company was acquired by holding group United Fintech, which has bought several technology providers in the FX trading sector since launch in 2020.