24 Exchange has commenced live trading of foreign exchange (Forex) swaps using CobaltFX's Dynamic Credit process, the companies announced today (Thursday). The integration aims to improve credit intermediation and enhance liquidity efficiency for market participants.

24 Exchange Begins FX Swaps Trading with CobaltFX Credit System

24 Exchange, a multi-asset trading platform, has incorporated CobaltFX's credit management system to allow traders to allocate available credit lines in real-time. The Dynamic Credit process enables counterparties to establish pre-set credit relationships that adjust based on current trading conditions.

"We are thrilled to be live with FX swaps trading and to offer our clients a more efficient, cost-effective trading environment," said Jason Woerz, President of 24 Exchange. "The collaboration with CobaltFX allows us to redefine how credit is managed in the FX market, giving participants unprecedented access to liquidity."

According to the press release sent to FinanceMagnates.com, the system is designed to address traditional limitations in FX swaps markets, where credit constraints and operational inefficiencies have historically created barriers. By dynamically managing credit exposure, the companies say traders can access deeper liquidity pools while reducing counterparty risk.

"24 Exchange's adoption of our Dynamic Credit process is a testament to its ability to revolutionize credit management in FX markets," said Darren Coote, CEO of CobaltFX. "By optimizing credit usage in real-time, we are helping the industry reduce risk while increasing efficiency and transparency."

SEC Approval and LCH ForexClear Parntership

24 Exchange also recently expanded into the United States market after obtaining regulatory clearance from the Securities and Exchange Commission (SEC) to operate a securities exchange, according to company sources.

The firm has established its US presence under the name 24X National Exchange, which will offer trading of US securities for 23 hours per business day. This extended schedule aims to provide greater flexibility compared to traditional market hours.

This development comes shortly after the Bermuda-headquartered company achieved another milestone last month. 24 Exchange gained approval as an authorized trade source for foreign exchange non-deliverable forward (NDF) clearing at LCH ForexClear, a unit of the London Stock Exchange Group.

Part of United Fintech Group

CobaltFX, founded in 2015 and now part of United Fintech Group, developed the Dynamic Credit distribution system to eliminate carve-outs and automate FX credit allocation. The companies say this provides real-time control over credit exposure across all FX products and market access points.

This year, United Fintech expanded into trade finance and payment solutions through the acquisition of Commercial Banking Applications (CBA), a provider of API-based platforms for trade finance and payment processing.