FX and money-market trading solutions provider Cognotec has launched FXall Direct, a stand-alone application programming interface for establishing connectivity between bank dealing engines and the multi-bank corporate currency portal.
Designed to meet the expected upsurge in demand by financial institutions for connectivity solutions to multi-bank portals, the new API allows any bank, large or small, to deliver automated prices to its clients through an electronic link to the FXall portal, whether or not they have an existing Cognotec platform.
Implementation will take as little as two weeks, says the company.
Brian Maccaba, chairman and CEO, Cognotec, says: "The fact that leading players, such as Citibank, JP Morgan Chase and Deutsche Bank, have now joined FXall indicates a surge in demand for fast connectivity to FXall. Our new solution Cognotec FXall Direct meets this need."