SunGard is to provide multi-bank FX pricing to buy-side users of its STN Treasury network via a direct connection with Cognotec's AutoDeal Lite currency trading platform.
The interface will enable Cognotec’s bank clients to deliver FX pricing and straight-through processing services direct to users of SunGard’s STN Treasury network.
John Beckert, president of Cognotec Americas and head of global sales, Cognotec comments: “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 SunGard’s STN Treasury service."
Shawn McMorran, STN Treasury’s president, says: “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."
The partnership comes in the wake of similar arrangements between Cognotec and the FXall, Atriax and Currenex multi-bank trading platforms.