Cognotec and Saxo Bank announce partnership for retail FX liquidity provision

Powerful partnership of leading e-FX providers to meet the challenge of growth of professional retail FX trading

London, 17th January 2008 - Cognotec and Saxo Bank, two of the leading providers of web-based institutional and retail foreign exchange trading solutions, have today announced a partnership in which Saxo Bank will provide streaming price liquidity to Cognotec's RealStream Margin Trading platform.

The partnership brings together two leaders in the world of e-FX at a time of immense growth in professional retail trading of FX. Saxo Bank, is well-established as the market leader in professional retail trading of FX, while Cognotec is recognised as a leading technology provider, offering award-winning technology platforms in automated FX trading.

Brian Maccaba, CEO of Cognotec says, "We are delighted to partner with a progressive bank such as Saxo Bank with its depth of FX experience, and particularly their leading profile in the professional retail trading market."

Maccaba adds, "We are very excited about the potential for growth in this market and believe this agreement benefits the position of both parties to participate in that growth and ultimately provide our partners with a market-leading solution. This partnership positions our platform as the preferred alternative platform provider to clients sourcing liquidity from Saxo Bank and therefore offers clients a greater choice of technology platform while still maintaining a single service offering."

Lars Sier Christensen, Joint founder and co-CEO of Saxo Bank, says "With this new venture, we are effectively growing our client base even more and extending our global presence further and wider, by joining forces with another leading FX technology provider."

Kim Fournais, co-founder and co-CEO adds that the deal further establishes Saxo Bank as the leader in the market for professional trading.

"This deal merges the strengths of two market leading FX providers with cohesive systems and first class approaches to client service, in every respect."

Cognotec recently launched the RealStream Margin platform which is specifically designed to target the professional retail market for trading FX as an asset class. Under the deal, Saxo Bank will stream prices to Cognotec's RealStream Margin Trading platform. With one-click trading, prices will be fully executable, greatly enhancing the straight through experience of the end client.

Julia Reynolds, Product Director for RealStream Margin says "The combination of liquidity from Saxo Bank and our trading technology is a winning solution for those wishing to provide a comprehensive and scalable solution in this market. This partnership further enhances the ease of integration and time to market to this high-growth business.

RealStream Margin is a complete solution for those wishing to gain entry to the fast-growing 'retail' segment of the FX market. An integrated platform, it provides a web-distributed trading suite for end clients, while simultaneously providing full collateralisation or Margining Trading capabilities for standalone control over Credit Risk associated with trading in this market.

ENDS