Investors Bank & Trust Launches Internet Dealing Service for Clients

Investors Bank & Trust has teamed with Cognotec, a leading e-commerce solutions provider, to offer internet-based currency dealing to its clients. Known as INVESTORSFXä , the service will provide round-the-clock, global on-line currency dealing to its institutional client base.

John Nalesnik, Senior Director, FX Group Manager at Investors Bank commented: "As a premier global custodian bank, we required an internet-based foreign exchange product which offered both breadth of capability as well as depth of functionality to meet our clients’ needs. We also wanted a provider that had a proven track record of automated dealing success. One that would continue to reinvent itself as new market needs evolve. After conducting extensive due diligence with vendors, we found that Cognotec met all these needs. The flexibility of their AutoDeal LITE service allowed us to configure it to match the unique needs of our clients."

Powered by Cognotec, the INVESTORSFXä service offers the Bank’s clients quick, secure market pricing, instant hard copy confirmations, historical trade records, block trade allocation dispersion and file download capability. "These attributes, along with the efficiencies and straight-through capability of the Cognotec product, provide considerable added value to our client base, " adds Nalesnik.

John Beckert, President of Cognotec Americas, commented: "We are especially pleased that Cognotec was chosen by Investors Bank, given its worldwide reputation for client service. Their renowned focus on client customization is an ideal match for our AutoDeal LITE service."

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