Data Edge And Cognotec Sign Major Software Agreement

Published 22nd January 2008

- Contract expected to yield revenues of EUR500,000 in first year
- Cognotec RealStream-Margin is the leading solution for those wishing to gain entry to the fast-growing ‘Retail’ segment of the FX market.
- CA Wily Software has been integrated into the new automated trading solution...

Data Edge, the application and network performance management company, today announced a contract with Cognotec, the award-winning provider of web-based institutional and retail foreign exchange trading solutions. This includes the integration of CA Wily Introscope software into Cognotec’s latest FX trading software – RealStream-Margin. As CA Wily's premier partner in Ireland, Data Edge expects the deal with Cognotec to yield revenues of EUR500,000 in the first year alone.

In the world of online currency trading, where traders spend their day conducting multi-million deals, the speed of transaction execution is a critical factor. The delay between pressing the Go! button and a transaction being executed must be in the low millisecond range. Delays can result in highly expensive losses. Wily Introscope arms Cognotec’s RealStream-Margin with the ability to highlight in advance any issues that may adversely affect the transaction and alert operational staff - allowing a fix well before it affects customers.

Cognotec RealStream Margin is a complete solution for those wishing to gain entry to the fast-growing ‘Retail’ segment of the FX market. An integrated platform, it provides a web-distributed trading suite for end clients and is designed to be accessed simply by a HTTP request either over the Internet or on a private network. RealStream-Margin is likely to be the preferred option for smaller banks and brokers, because it gives them the same trading capabilities as the large financial institutions, but at a much lower cost.

Data Edge was approached by Cognotec to expedite the development stage of the new software and ensure high performance in production. Initially, Data Edge entered into a professional services engagement to run CA Wily monitoring software on RealStream-Margin. The early success of the alliance spurred Cognotec to elevate the partnership to an ongoing developmental and operational involvement, bundling CA Wily with every sale of RealStream-Margin.

Maurice Curran, COO Cognotec, said, “The integration of CA Wily software has been a real lightening rod in the development and operation of our product. By approaching Data Edge when we did, Cognotec has saved time, energy and resources in getting RealStream-Margin to market. Our challenge now is to ensure that RealStream-Margin provides an ultrafast service. Wily Introscope gives us the confidence to guarantee that service level.”

Brian McBride, managing director, Data Edge, said, “We’re delighted to be involved with Cognotec as it represents a new generation of Irish based software companies who dominate their sector in a very competitive international market. Cognotec has developed software which focuses on speed of execution, scalability and functionality - and which needs a product like CA Wily Introscope to ensure its performance.”