24 Exchange has announced that it now offers live FX swaps trading, powered by CobaltFX’s Dynamic Credit process. The partnership introduces a new method of managing credit for counterparties that reduces operational complexity and unlocks greater trading flexibility.
The Dynamic Credit process adjusts credit usage in real time, allowing market participants to make use of available credit more efficiently. 24 Exchange now enables clients to access deeper liquidity and execute larger transactions without the traditional pre-funding requirements that often limit trade volume.
24 Exchange, known for its cost-conscious multi-asset infrastructure, integrated CobaltFX’s solution to automate credit line distribution and eliminate static carve-outs between counterparties. The model replaces manual intervention with automated credit checks, providing a scalable route to higher trade volumes and broader market access.
“CobaltFX allows us to redefine how credit is managed in the FX market”
Jason Woerz, President of 24 Exchange, commented, “We are thrilled to be live with FX swaps trading and to offer our clients a more efficient, cost-effective trading environment. The collaboration with CobaltFX allows us to redefine how credit is managed in the FX market, giving participants unprecedented access to liquidity.”
The process adopted from CobaltFX allows for bilateral credit limits to be adjusted continuously. This eliminates bottlenecks that previously caused trades to fail or settle late. Market participants with established credit lines can trade more freely across execution platforms, especially in the traditionally complex FX swaps segment.
Darren Coote, CEO of CobaltFX, commented, “24 Exchange’s adoption of our Dynamic Credit process is a testament to its ability to revolutionise credit management in FX markets. By optimising credit usage in real-time, we are helping the industry reduce risk while increasing efficiency and transparency.”
CobaltFX is part of United Fintech and has developed Dynamic Credit to centralize post-trade risk management and credit control. The solution is designed to serve institutional clients needing consolidated control across multiple trading venues and FX instruments.
Reduced settlement risk and improved credit availability
The new offering from 24 Exchange allows both liquidity makers and takers to benefit from reduced settlement risk and improved credit availability. This reduces friction in the trading process and supports tighter spreads and faster execution across supported currency pairs.
24 Exchange operates on a 24-hour model and provides infrastructure for low-latency, high-frequency trading. Its expansion into FX swaps with real-time credit optimization reflects broader efforts in the industry to automate manual processes and reduce dependence on legacy systems.
Both companies said the launch addresses long-standing inefficiencies in the FX swaps market, where credit barriers often limit access to liquidity. Their joint solution offers a practical path forward, especially for institutions seeking to manage capital more effectively.
Founded in 2015, CobaltFX provides infrastructure for institutional FX trading and is focused on improving post-trade transparency and credit management. Its parent company, United Fintech, operates a technology platform connecting banks and fintech providers.
24 Exchange facilitates trading across asset classes while aiming to reduce transaction costs through customized workflows. The platform continues to expand its product suite, building on partnerships with infrastructure providers like CobaltFX.
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