AutoDeal+ sees light

In development for two years, AutoDeal+ is Cognotec's first major release since the launch of its AutoDeal Lite product line in 1999. The first bank to go live with the new system began trading last Monday (October 28).

The firm's strategy is to snare the replacement market for e-FX trading systems, Cognotec chief executive Brian Maccaba told FX Week. "Out of the 50 top FX banks, 25 will change their systems in the next two to three years," he said. "That's a very good market opportunity."