NEW YORK--(BUSINESS WIRE)--Seabury Global Markets LLC (“SGM”), 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 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. Noble represents a truly revolutionary step towards greater flexibility and functionality in post-trade, and an industry-changing approach to reducing counterparty settlement risk for OTC trading.
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 have 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.
“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,” said Seabury Global Markets Chief Executive Officer Rob Fleschler. “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.”
Noble is a non-fractional reserve bank that enables clients to clear, net and settle spot FX, precious metals, and OTC transactions in real-time. www.noblegrp.com. To view the Noble Bank International launch announcement, click here.
ABOUT SEABURY GLOBAL MARKETS
Seabury Global Markets LLC (“SGM”) is the investment and marketing vehicle of Seabury Capital LLC to deploy and market financial, technical and human resources into the financial technology space. FXone is a decentralized, smart order router solution that connects to one or more liquidity providers and includes the most advanced GUI / spreadsheet engine available today. FIX and GUI solutions are combined with an order and execution management system that can operate as standalone or with third party technology in any colocation. Spotex is a sophisticated middle and back office software solution combined with its own matching engine and central limit order book.
ABOUT SEABURY CAPITAL
Seabury Capital LLC (“Seabury Capital”) operates a number of specialty finance, investment banking, technology and software companies with a core focus anchored in aviation, aerospace & defense, maritime, and financial services/technology. Since its founding in 1996, Seabury Capital has historically been the investment holding company of its founder, John E. Luth, operating as a venture capital firm with ownership stakes in software and asset management businesses servicing the aviation and travel industries. Within the last few years, Seabury Capital has expanded its portfolio by investing in early stage startup companies within the financial technology industry and structured investment products. In addition, Seabury Capital owns and operates FINRA regulated investment banking services firms in the U.S. and U.K. serving external clients as well as assisting the companies in which Seabury Capital has invested. Seabury Capital has operations in New York, Jersey City, Summit (NJ), Los Angeles, Minneapolis, Stamford (CT), Amsterdam, Berlin, Cordoba, Dublin, Durban, Hong Kong, London, Manila, Singapore, and Tokyo. www.seaburycapital.com