26th May 2005, Stockholm; Cognotec, the world's leading provider of electronic foreign exchange and money market connectivity solutions, has launched FX Orders CONNECT™, a new web enabled integrated component of its prize winning AutoDeal+ dealing platform. FX Orders CONNECT™ enables banks to offer enhanced services to their corporate client base, from self-service order placement management and automated execution to the option of providing an out-of-hours service with partial or complete outsourcing of orders. Like all Cognotec CONNECT components it can be used as a stand-alone product, or as part of the AutoDeal+ product suite.
FX Orders CONNECT™ offers a complete order capture management solution with multiple functionality, allowing a range of deals (including call, stop and limit orders, as well as single, loop and multiple leg transactions) to be requested by the corporate, forwarded to the bank and then automatically carried out by the bank when the correct market conditions prevail - all with no further input required on the client's behalf, additionally branches are able to input orders on clients behalf.
FX Orders CONNECT™ enables banks to improve the service they offer their corporate customers by providing them with a flexible and integrated solution. This could also generate additional deal flow for the bank. Banks are also able to pass the requested order transaction to their branches around the globe in order to cover requested time zones more readily, in addition used in conjunction with Cognotec’s Liquidity Linq™ service a bank can extend its services by partial or complete outsourcing of market risk whilst retaining its clients business.
Kieran Fitzpatrick for Cognotec added: "FX Orders CONNECT™ is a flexible tool that allows corporate clients to experience an enhanced level of service, while still allowing them a high degree of control over their trading. The fact that it is delivered online, means they can manage their FX Orders from where ever they happen to be situated.
He concluded: "As the latest addition to our range of CONNECT adaptors, FX Orders CONNECT™ allows banks to offer corporate customers a truly added-value service which can be deployed to their clients' desktops. This solution, together with the rest of the CONNECT adaptors, enables to banks to build an entire connectivity solution which is closely tailored to their needs and the requirements of their client-base."
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