Philadelphia Stock Exchange is to use Cognizant's software architecture to create a straight-through processing environment for real-time data flow between front and back office systems.
The new technology will also support internal and external interfaces for back office processing.
Cognizant has worked on a number of projects with Philadelphia Stock Exchange since 1999, including application maintenance and reengineering.
Tom Wittman, senior vice president of development at the Exchange, says: "Cognizant has gained a deep understanding of our systems and has been able to add a lot value through their new Enterprise Consulting Practice in designing the new T+1 and STP architectures."