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Cognotec wins Best Automated Dealing Technology Award for 5th Consecutive Year

London, 18th November 2002; Cognotec has again been confirmed as the world’s leading provider of automated dealing technology by the global readership of FX Week, in the 2002 FX Week Best Banks Awards. This is the fifth consecutive year that Cognotec has won the Best Automated Dealing Provider in the FX Week Best Banks Survey.

Cognotec was one of the first pioneers of electronic dealing solutions for banks when the company launched its first solution in 1991. In addition, Cognotec was the first provider to enable e-commerce trading solutions. Now more than 55 financial institutions across 17 countries are enjoying tremendous year-on-year growth in the volume of trades their clients transact online.

The recent launch of AutoDeal+ has expanded Cognotec’s range of services for the financial community. AutoDeal+ represents the next generation of automated dealing software. It is a component-based suite of products which forms a totally flexible solution to the increasingly demanding needs of financial enterprises. In addition, it is a total connectivity platform linking the organisation’s clients, branch network, back office and multi-bank platform with the trading room.

"Winning this prize for the fifth time is a remarkable achievement, and although this year's award is attributable to our AutoDeal LITE platform, our newly launched AutoDeal+ platform must also be recognized. It provides an even more advanced trading solution to the FX market place. The fact that Brown Brothers Harriman have just gone live on AutoDeal+, clearly demonstrates the compelling proposition that AutoDeal+ offers which will place us at the forefront of delivering the next generation of trading systems to the market," commented Brian Maccaba, CEO & founder, Cognotec.