Post-trade automation solutions provider CobaltFX, a United Fintech holding company, has announced that Australia and New Zealand Banking Group (ANZ) has joined CobaltFX’s Dynamic Credit platform to manage credit exposure for FX transactions on interbank trading venues.
ANZ’s adoption of the platform demonstrates their view of the importance of a real-time, centralized FX credit management system managing multiple trading venues from a single central global set of limits, using dynamic allocation of credit availability. ANZ is the latest among a group of forward-thinking institutions seeking greater control, efficiency and an alternative to antiquated market access methods.
David Thorne, ANZ Head of eFICC Europe and North America commented:
“This new approach to credit management has helped eliminate cutbacks as well as reduce credit utilization while improving our market access. This feature benefits our customers, policyholders and the bank.”
Darren Coote, CEO of CobaltFX expressed:
“It is a pleasure to welcome ANZ to CobaltFX’s community of market leaders who are committed to transforming the nature of the foreign exchange market by reducing risk and enhancing market access for all.”
CobaltFX, part of United Fintech, is a leading provider of fully automated pre- and post-trade infrastructure that enables global financial institutions to access deeper liquidity while deploying less credit and minimizing operational risk. CobaltFX continues to improve its platform, focusing on ways to facilitate market access and reduce risk among all group members.