The companies said that banks using the platform, which is a combination of both vendors’ products, will be able to offer pre- and post-trade connectivity to their clients. It is also designed to deliver risk analytics and straight-through processing.
All functionality from price discovery to trade execution will be performed by Cognotec’s AutoDeal+, an automated pricing and execution platform. From the point of trade execution and during post-trade transaction processing and risk management, transactions will flow into the Wall Street System treasury and capital markets front office trading system.
The integration of The Wall Street System and Cognotec AutoDeal+ will enable banks to gain instant added value and the potential for a rapid return on investment with little or no effort, said Howard Tolman, managing director of Cognotec. They will be able to achieve greater levels of efficiency and straight-through processing while also creating a stronger web-based channel to market.
The partnership encompasses both technical integration and co-ordination of sales and marketing activities.
