Cognotec Installs FX Dealing System At Barclays For Corporate Customers, Midland To Join Fray

TECHNOLOGY

After some seven months of pilot testing, Barclays Bank in London has gone live with an automated dealing system for its corporate treasury customers. Developed and run by Cognotec, an Irish- and British-owned information vendor, the Barclays system rivals Citibank-Quotron's Corporate Trader system currently installed in several major banks. Midland Bank will also shortly introduce a proprietary system, FX Direct, to offer its customers the same service, says a Midland official.

The Barclays-