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Cognotec Announces Senior Management New Hire

Michael Thrower joins Cognotec from Wall Street Systems as Head of Sales and Marketing

London & Dublin, 18th September, 2006 - Cognotec, a global provider of leading-edge FX trading solutions to financial institutions, is pleased to announce a significant appointment to its senior management team. Michael Thrower as Head of Sales and Marketing, will play a crucial role in shaping the future direction of the company through its current phase of strong growth.

Brian Maccaba, Executive Chairman of Cognotec says of the appointment "I am very excited that we have been able to attract such a high caliber candidate to join our senior management team at a time of significant growth for the business," Maccaba added. "Cognotec's sales have grown by more than 50 percent in each of the last two years, and last year's profits more than doubled. Industry research indicates further significant growth in the online trading of foreign exchange through to 2010. Cognotec is investing heavily in its new Cognotec RealStream™ trading platform and other solutions to ensure we can continue to maintain our current market leadership position."

Mike Thrower joins Cognotec with over 20 years of experience in financial IT and a deep knowledge of the market for banking software solutions on a global basis. His previous position was Director of Marketing and Business development at Wall Street Systems where he worked for 10 years. Thrower began his career on the graduate training programme at JPMorgan, where he subsequently spent 7 years, prior to moving to positions in Credit Suisse and Hill Samuel.

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