Seabury Global Markets LLC, a subsidiary of Seabury Capital LLC and a provider of FX and precious metals liquidity management and trade execution solutions, announced today that the company has entered into a strategic partnership with Noble Bank International (Noble), a non-fractional reserve bank that enables clients to clear, net and settle OTC products in real-time.
The Noble FX service, announced for release yesterday is a collateral management and post-trade utility that allows clients to create their own pools of credit with fully customizable and configurable rules guiding each pool, public or private.
The strategic partnership leverages SGM’s established global distribution footprint and Noble’s clearing, netting and settlement service to address the core issues of credit access and post-trade processing cost for Seabury’s institutional client base.
Under the agreement, SGM will serve as global sales and distribution partner while Noble has integrated Seabury FXone’s FIX and GUI software applications into the Noble service. Importantly, SGM has also established a prototype private credit pool for customers in the form of a net settlement overdraft facility linked to real-time, post-trade services.
Seabury Global Markets Chief Executive Officer Rob Fleschler said:
We’re very excited to be working with Noble to deliver an alternative end-to-end trading, clearing and settlement service that expands SGM’s value proposition to the clients using our FX and precious metals trading solutions and platforms.Noble’s FX service benefits our companies’ combined offering to buy and sell side clients by reducing the friction of onboarding clients and liquidity providers in OTC markets allowing broader access to market participants while simplifying and reducing the cost of post-trade services.
In addition to the strategic partnership, Seabury Capital has participated in Noble’s Series A round, further aligning the two companies.
John Betts, Noble Founder & Chief Executive Officer, commented:
SGM’s advanced FX trading platforms and global distribution footprint are incredibly complimentary to Noble’s service of enabling public and private credit pools, supported by real-time clearing, netting and settlement. The strategic partnership will further our mission of solving some of the key fundamental issues underlying the FX, precious metals and OTC markets.