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BNP Paribas Expands Use of CobaltFX’s Dynamic Credit to Enhance Market Efficiency and Regulatory Compliance

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BNP Paribas has further expanded its use of CobaltFX’s Dynamic Credit solution, to improve the allocation of credit for FX transactions. The move aims to simplify credit distribution among over 100 counterparty banks, and to optimise global credit management across 12 Electronic Communication Networks (ECNs). The initiative is designed to address regulatory and industry concerns, setting a new benchmark for precision and effectiveness in market operations.

The expansion highlights BNP Paribas’s commitment to innovation and efficiency in credit allocation, enhancing market access for financial institutions worldwide. With the integration of CobaltFX’s Dynamic Credit and the newly developed CobaltFX Analytics, BNP Paribas continues to address regulatory concerns, further establishing its leadership in market operations, according to Joe Nash, Head of Global Macro Digital at BNP, who commented: “We see this as an important initiative to address regulatory and industry body concerns about the over-allocation and inefficiencies of credit distribution on dealer to dealer venues. Moreover, this approach, combined with CobaltFX Analytics allows us to right size our limit for each counterparty whilst improving market access with them.”

Darren Coote, CEO of CobaltFX, part of United Fintech, added: “This systemic problem has been long over-looked but there are a group of leaders in the industry that understand the benefits of this unique approach. We are very grateful for BNP’s leadership in this regard.”

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