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Cognotec announces that Goldman Sachs will take its Liquidity Linq Service

16th October 2001, London; Cognotec announces that Goldman Sachs & Co. will now offer foreign exchange liquidity including pricing and execution services to institutions on the Cognotec Network. Goldman Sachs, one of the world's leading foreign exchange houses, is using Liquidity Linq CONNECT - a new application program interface (API) from Cognotec - to extend the distribution of its foreign exchange pricing services to both new and existing customers.

Goldman Sachs will market to users of the Cognotec foreign exchange dealing services, Cognotec AutoDeal LITE and AutoDeal DIRECT, with a particular focus on banks that intend to extend the number of currencies and/or the range of the trading hours they offer to their clients.

"The Cognotec technology allows us to offer our pricing capabilities to a wide group of clients," said Don Lee, Managing Director at Goldman Sachs. "This service complements our own strategic focus on growing our foreign exchange trading business through automated links to existing and new clients."

"Goldman Sachs’ proprietary pricing system is second to none in terms of serving the needs of top tier customers. Combined with the flexibility offered by Cognotec ASP based AutoDeal LITE and AutoDeal DIRECT foreign exchange platforms, Goldman Sachs gains an efficient and scalable distribution channel for its foreign exchange services," commented John Beckert, President of Cognotec Americas.