AutoDeal Direct Puts FX On The Web

LAUNCH NEWS

PARIS — Cognotec, the internet software trading firm, launched its latest automated dealing system at yesterday’s (Thursday’s) exhibition at the Palais des Congres.

Called AutoDeal Direct — to fit in with Cognotec’s AutoDeal Lite product — it allows smaller banks to outsource foreign exchange market making, while delivering an internet-based FX execution service to their clients.

“It won’t be good for the industry in terms of jobs but I’m very impressed with this,” says one delegate. “Cognote