COGNOTEC LAUNCHES COGNOTEC REALSTREAM MARGIN

First phase brings a high-performance, fully-integrated, web-based solution for margin trading

ACI World Congress, Philippines, 30 May, 2006 - Cognotec, a leading provider of FX trading solutions to financial institutions, today announced the launch of its new, next generation solutions platform, Cognotec RealStreamTM. Based on new, leading-edge technology, the first phase of Cognotec RealStream presents Cognotec RealStream-Margin, an integrated web-based solution designed for banks looking to target the increasing growth in flows originating from investors actively trading FX as an asset class.

Developed over the last 14 months with a focus on speed of execution, scalability and functionality, Cognotec RealStream Margin incorporates the latest collateral management capabilities to enable banks to effectively deliver a professional client margin trading solution. End-user clients will experience a comprehensive margin trading suite combining executable streaming rates and order management with full portfolio analysis capabilities providing up-to-the-second market values of positions and P&L.

"By taking a holistic view of both wholesale and margin trading capabilities, financial institutions are able to access more trading channels from a single platform with one pricing engine. It is this efficiency that is helping banks to realise new profit from and increase flow for their eFX business," said Kieran Fitzpatrick, director of strategic solutions at Cognotec. "Cognotec RealStream Margin positions us as the only technology provider offering a truly integrated web-enabled trading solution that can be used by financial institutions to target all segments of the eFX marketplace. We are excited about the opportunities the solution brings to the market and our clients."

Cognotec RealStream Margin benefits both financial institutions and their end-user clients. These benefits include:
Financial Institutions:

- Out-of-the-box margin trading solution
- Ease of integration with existing treasury systems
- Comprehensive collateral management with full auto-close capability
- Standalone or white-label solution

End-user Clients:
- Comprehensive trading suite
- True one-click executable streaming rates
- Continuous mark-to-market of positions
- Highly configurable, intuitive user interface

The second phase of Cognotec RealStream sees Cognotec's existing capabilities in eFX, including pricing and execution engines, multi-channel connectivity, Liquidity Linq, and a comprehensive white labelling solution, integrated into the RealStream platform.