CobaltFX Dynamic Credit Goes Live At BNP Paribas & NatWest

BNP Paribas and NatWest are putting CobaltFX technology into use. This technology is meant to make it easier and faster for banks to share credit for FX trades and give them better access to liquidity.

The banks, which have been working with CobaltFX for a long time, have both signed up for the United Fintech unit’s new Dynamic Credit offering. They did this to handle their credit exposures, fix overly manual processes, and get better access to and control over the market.

Joe Nash, the digital COO at BNP Paribas for FX, rates, and commodities, says:

“CobaltFX’s solution offers a much needed improvement to the manual process of updating credit limits with interbank trading venues.

By providing a standardised and digitised approach, and aggregating IT infrastructure across multiple venues, ‘Dynamic Credit’ gives banks unprecedented control to navigate fast-moving FX markets and proactively manage credit exposure. This is a very important step in delivering a solution for credit providers, taking full advantage of new technical advancements.”

United Fintech bought Cobalt in December, and in March, it changed its name to CobaltFX and gave its digital asset business to a new company on the same platform.