COSY, a storage and cooler synchrotron, which is fed by an injector cyclotron, is operated at Forschungszentrum Jülich (Germany). It provides phase space cooled polarized or unpolarized beams of protons and deuterons with momenta between 0.3 and 3.7 GeV/c for internal experiments and to external target stations. The major experimental facilities, used for the ongoing physics program, are ANKE and WASA (internal) and TOF (external). A new internal target station to investigate polarization build‐up by spin‐filtering (PAX) has recently been commissioned. COSY is the machine for hadron spin physics on a world‐wide scale, which is also used for tests in conjunction with plans to build a dedicated storage ring for electric dipole moment (EDM) measurements of proton, deuteron and 3He. In this contribution recent results as well as future plans are summarized.

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