Three go live on Cobalt’s shared FX ledger

Technology provider aims to reduce trade reconciliations for Deutsche, Saxo and XTX

Electronic handshake
Benefits of sharing: a reconciled dataset on a centralised post-trade infrastructure can be easily scalable

Deutsche Bank, Saxo Bank and XTX went live with Cobalt’s ledger this week, buying into a system that purports to offer savings of 80% in back-office costs if market participants are prepared to steer away from multiple layers of trade reconciliation and instead adopt a shared ledger to reconcile FX transactions.

The technology provider says more than a dozen other top FX players are set to join shortly.

“Market participants are waking up to the fact that a centralised post-trade infrastructure

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