Radianz announced it has signed a three-year multimillion-dollar contract to provide Internet Protocol (IP) extranet services to Cognotec.
Cognotec, a provider of foreign-exchange and money-market trading solutions, will use Radianz’s global financial extranet, RadianzNet, to connect Cognotec’s clients quickly and securely to its flagship trading service, Cognotec AutoDeal LITE.
“Cognotec sees unique value in the Radianz concept,” said Cognotec’s Chief Operating Officer, Paul Fox. “Radianz’s infrastructure already is connected to a large global community of financial professionals. This will enable us to accelerate the deployment of our services to both new and existing clients. RadianzNet also aligns with Cognotec’s strategy for delivering distributed e-commerce.”
Radianz’s Head of European Sales, Myron Tataryn, said, “We are delighted that Cognotec is joining RadianzNet–our global extranet for the financial industry. Cognotec will further strengthen Radianz by distributing its highly regarded foreign-exchange service over RadianzNet to financial professionals worldwide and by attracting new users in this market who are interested in accessing Cognotec through our network. Radianz provides a neutral platform that connects to a large global community of users. This makes RadianzNet attractive to financial institutions, many of whom compete with each other, who want to reach that community of users.”
Beyond foreign exchange, Radianz also is winning business in the fixed-income and equities segments of the financial industry.