BNP Paribas and NatWest Markets have become the first two dealers to launch on CobaltFX, the forex industry’s latest attempt to tackle the problem of over-allocation of credit to anonymous trading venues.

Providing overly generous limits has long been a problem for trading desks and FX prime brokers (FXPBs) trading on multiple anonymous electronic communications networks (ECNs). FXPBs provide their high frequency clients with considerable credit space so they don’t run into limits