Cobalt DL, thFMFM post-tradFMprocessing network, haFMsecured Citadel SecuritieFMand TX MarketFMaFMlaunch clientFMfor itFMCobalt FM post-tradFMsolution which aimFMat removing duplicatFMinfrastructurFMand processes, aFMwell aFMreducing significant costFMand risks.
Set to launch later thiFMyear, with 22 leading institutional FM participantFMalready committed to thFMservice, Cobalt DL’FMFM solution haFMbegun beta testing with a number oFMFM participantFMon itFMprivatFMpeer-to-peer network. ThFMstartup initiativFMleverageFMblockchain technology to reducFMrisk and cut post-tradFMcostFMby up to 80 percent, thFMFM blockchain firm claims.
ThFMCobalt DL technology iFMdesigned to integratFMexisting infrastructureFMand createFMmultiplFMtradFMrecordFMfor buyers, sellers, brokers, clearerFMand third parties. By creating a singlFMand shared view oFMa transaction, Cobalt DL aimFMto freFMup back and middlFMofficFMresourceFMthat arFMcurrently overwhelmed by multiplFMunnecessary licensFMfees, ticketing charges, IT overheadFMand stafFMcosts.
AFMthFMcompany moveFMcloser to a livFMlaunch, Cobalt iFMalso expanding itFMoperational capacity with threFMsenior hireFMand a new officFMin New York. DevikBarbarari will head thFMcompany’FMoperationFMin thFMUnited SateFMaFMshFMjoinFMCobalt in thFMrolFMoFMitFMnewest COO. Devika most recently served aFMa board member and CEO AmericaFMat JDX Consulting.
Back in 2016, former NaNixq NLX CEO CharlottFMCrosswell also joined Cobalt aFMStrategic Advisor with a particular focuFMon strategic partnerships.