The collaboration will enable Cognotecâs bank clients to deliver seamless pricing and straight-through processing to their customers via SunGardâs STN Treasury service. STN Treasury was launched in 2001 to enable SunGard clients to take advantage of the price and compliance benefits of using a multi-bank platform, combined with increased levels of straight-through processing.
John Beckert, President of Cognotec Americas and Head of Global Sales, Cognotec said: âCognotec is pleased to be working with SunGard to deliver connectivity between the fully automated environments of our respective companies, this will enable the leading market making institutions using Cognotec to provide virtually unlimited pricing and deal execution on a 5 day x 24 hour basis to their extensive buy side client base currently using SunGardâs STN Treasury service. This partnership demonstrates our commitment to ensuring that the banking industry can serve its clients with the same high level of service, regardless of the connectivity channel used.â
Shawn McMorran, STN Treasuryâs President, says, âSunGardâs STN Treasury is already connected to a community of buy side clients who trade FX online. Putting buy-side demand for FX and money markets out to banks that use Cognotec to make prices allows us to further enhance the service to them and expand our own global reach. Collaborating with Cognotec allows SunGard to deliver seamless straight-through processing to more of our FX and money market customers; this will mean that Cognotec bank clients will be able to make prices to our customers at the flick of a switch, with no extra effort, along the same delivery channel.â
This partnership comes in the wake of similar partnerships already announced by Cognotec to allow banks using the Cognotecâs AutoDeal LITE trading platform to connect to FXall, Atriax and Currenex multi-bank trading platforms and is part of Cognotecâs strategy to ensure that its flagship service, the internet-based trading platform AutoDeal LITE, continues to be the banking industryâs trading and connectivity platform of choice.