Cognotec has announced the launch of RealStream Rate Manager, the next generation of its Market Rate Manager tool, which it claims is “significantly enhanced and improved to meet the evolving demands of the marketplace”.
The new tool is a standalone solution designed to allow financial institutions to efficiently gather rates from multiple sources, and blend them to generate a ‘market’ rate based on their own criteria. With institution-specific pricing calculations, it is able to deliver consistent pricing throughout various price distribution channels.
“With the growth of buy-side eFX trading, the rise of FX algorithms, new trading strategies, predatory arbitrageurs and other high volume approaches, financial institutions face an increasingly sophisticated and demanding market,” says Kieran Fitzpatrick, director of strategic solutions at Cognotec. “The challenge for banks is to competitively manage and distribute prices to a range of different electronic trading channels and clients, while protecting their own book in an environment where conditions have in themselves fuelled the growth of hostile arbitrageurs. RealStream – Rate Manager is Cognotec’s solution to this new market challenge.”
The new product can be configured to monitor specific market conditions with dealers able to specify a “watch list” of rates to be monitored. At all times dealers are able to withdraw or skew automatic rates, meaning control stays firmly in the dealer
It also has “hit” protection functionality, which is aimed at ensuring that trading activity which transgresses maximum deal values on either a deal-by-deal or within a preset time period will be referred for dealer intervention.