First Derivatives pays $4.7 million for Cognotec IP

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Under the terms of the deal, First Derivatives will acquire the entire intellectual property rights of two of Cognotec’s key products: RealStream, which manages foreign exchange margins, rates and liquidity; and AutoDeal+, an FX pricing and execution engine. The deal also secures the team of engineers who support these products. The terms of the purchase comprise a cash payment of $4.7 million and, according to reports, $500,000 will be held in escrow pending delivery of certain agreements by

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