Cognotec automates forex transactions

Cognotec, the Dublin-based provider of foreign exchange trading technology, has unveiled a new automated custody platform for automating the forex component of securities transactions. The Cognotec Foreign Exchange Custody Service (FXCS) is, according to the vendor, set to enhance the quality of a bank's custody services by improving STP in this area. It also enables a custody provider to automatically net foreign exchange transactions in the same currencies.

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