BNPP, NatWest turn to CobaltFX for credit limit management

The service will help the two banks rein in risks of credit overallocation on interbank platforms


BNP Paribas and NatWest Markets have become the first two dealers to go live on CobaltFX, in the foreign exchange industry’s latest attempt to tackle the problem of overallocation of credit to anonymous trading venues.

The granting of too-generous limits has long been a problem for trading desks and FX prime brokers (FXPBs) dealing on multiple anonymous electronic communication networks (ECNs). FXPBs provide their high-frequency clients with significant credit headroom so they don’t hit limits

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