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Cobalt Joins BT Radianz Cloud
Cobalt, the FX post-trade processing network based on distributed ledger technology, has joined the BT Radianz Cloud. This means that organisations can now access Cobalt’s private peer-to-peer and blockchain services via their Radianz Cloud connections. The Radianz Cloud links a community of thousands of brokers, institutions, exchanges and clearing and settlement houses. Through a single secure network connection, members can access thousands of applications and services from more than 400 providers critical to the everyday running of the global financial sector. Cobalt deploys distributed ledger technology to try and remove cost and complexity from post-trade processing. It leverages blockchain-derived concepts of encryption, digital signatures and consensus to deliver a single, immutable record for each trade, replacing traditional systems, which often involve duplicated processes. By creating a shared view of trade data, Cobalt aims to free up back and middle office resources from multiple layers of reconciliation, speeding up processing.

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