Cognotec Launches RealStream™ Rate Manager to drive Algorithmic Trading in Financial Markets

- Executable streaming rates tailored and distributed to multiple dealing channels in real-time

30th April 2007, London; Cognotec, the award winning provider of web based automated FX dealing solutions, has announced the launch of RealStream™- Rate Manager, the next generation of the highly successful Cognotec Market Rate Manager tool, significantly enhanced and improved to meet the evolving demands of the marketplace.

Built on a highly scalable, low latency platform, Cognotec RealStream - Rate Manager is a standalone solution designed to allow financial institutions to efficiently gather rates from multiple sources, and blend them to generate a 'market' rate based on their own criteria. With institution-specific pricing calculations, it is able to deliver consistent pricing throughout various price distribution channels, for instance, branch networks, ECN's, multi-bank platforms and client-facing portals.

Kieran Fitzpatrick, Director of Strategic Solutions, commented "With the growth of buy-side eFX trading, the rise of algorithmic trading, new strategies, predatory arbitrageurs and other high volume approaches, financial institutions face an increasingly sophisticated and demanding market. The challenge for banks is to competitively manage and distribute prices to a range of different electronic trading channels and clients, while protecting their own book in an environment that has experienced significant growth of hostile arbitrageurs. RealStream - Rate Manager is Cognotec's solution to this new market challenge."

In addition, RealStream - Rate Manager provides:
" High levels of configuration. RealStream - Rate Manager can be configured to monitor specific market conditions with dealers able to specify a 'watch list' of rates to be monitored. At all times dealers are able to withdraw or skew automatic rates, meaning control stays firmly in the dealer's hands.
" Distribution/channel management and market specific margin management capability. This enables the financial institution to distribute its own market rate to various output streams or distribution channels and furthermore the ability to configure specific margining according to the distribution channel and/or deal size.
" Fully supported money market rate management. This allows financial institutions to dramatically increase the reliability of money market rates using multiple rate feeds. As a result, institutions and their clients are able to benefit from increased efficiency and cost-savings.
" 'Hit' protection functionality. This ensures that trading activity which transgresses maximum deal values on either a deal-by-deal or within a preset time period will be referred for dealer intervention.

"Cognotec RealStream - Rate Manager is the latest addition to the new-generation RealStream product group from Cognotec. The culmination of market place feedback and ongoing development, it reaffirms Cognotec's dedication to the evolving needs of the eFX industry," concludes Kieran Fitzpatrick.