London, New York, 16 May 2019
Cobalt has today published its core pricing and has committed to not increase prices in the future without client approval. This is in direct contrast to the current post-trade landscape where pricing is opaque and many participants secure different deals, creating an uneven playing field.
The core licenses look to replace much of the cost associated with matching, netting and aggregation, confirmations and credit management, for all relationships and flow types in FX. Real data analysis shows 50-60% cost savings can be quickly achieved.
Addressing legitimate pricing concerns head on, Cobalt can commit to lower prices than other providers due to the fact that our solution has been developed using innovative technology that was not available 10 years ago, when many of the current incumbents were designed. Cobalt will be establishing a client advisory group which will cover topics such as standardisation of processes and data sets, costs driven by the industry and fair pricing policy.
As an FX utility provider, we plan to keep it this way, in line with our belief that pricing should be fair and transparent for all participants, and in compliance with the FX Global Code.
Cobalt is committed to stable and transparent pricing as well as fair transition terms that enable clients to easily move from expensive legacy solutions.