The Banker recognises 'outstanding' and innovative contribution of Cognotec RealStream™ -Margin to the FX retail marketplace
London, June 5th, 2007 - Cognotec, the award-winning provider of web-based institutional and retail foreign exchange trading solutions, has been recognised for its Cognotec RealStream™-Margin platform by The Banker magazine's annual Banker Technology Awards 2007. Cognotec Real-Stream™-Margin, a stand alone, web-based, FX margin-trading platform which enables financial institutions to extend liquidity to the rapidly growing retail FX space, scooped the 'Best Wealth Management Innovation' award.
According to research firm ClientKnowledge, the retail FX market is worth around USD$50bn per day and generates revenues of over US$1bn per year. It is an area of unprecedented growth, but one many banks and FX portals have yet to leverage. In recognition of the gap for a liquidity-independent technology solution, Cognotec has invested over USD$25m in the development of a highly scalable, integrated, web-distributed FX margin trading platform.
Developed with a focus on speed of execution, scalability and functionality, Cognotec RealStream™-Margin incorporates comprehensive functionality designed to automate a bank's FX margin trading operation. End-users experience a professional trading suite combining executable streaming rates and order management, full portfolio analysis capabilities and up-to-the-second market values of positions and P&L.
Commenting on the award, Mike Thrower, Head of Sales and Marketing at Cognotec, said: "Receiving such a prestigious award is a real tribute to the foresight and innovation of Cognotec and it's dedicated production team. After 16 years experience of developing trading FX solutions this is the latest in a strong line of industry awards for which Cognotec and its range of products continues to be recognised."
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The Banker Technology Awards:
The Banker Technology Awards aim to provide financial institutions and their clients around the world with an objective analysis of the technological expertise that exists within key business areas. The Awards highlights those solutions and projects that have made a real difference over the past 12 months. |