Cognotec in Digital Island deal to boost online performance

Foreign exchange and money-market trading software provider Cognotec has teamed with Digital Island, the San Francisco-based communication infrastructure specialist, to improve online performance. The agreement involves Dublin-based Cognotec incorporating Digital Island’s modular 2Way Web Services as part of its global internet transaction platform.

Cognotec, whose clients include UBS Warburg, Bear Stearns and Commonwealth Bank, provides a range of services enabling financial institutions to brand and operate their own forex and money-market trading services via the internet.

It will use Digital Island’s 2Transact application to ensure that online transactions made by its 60 global customers are completed over a secure and reliable infrastructure. Part of this agreement allows Cognotec to access a secure global internet protocol (IP) backbone connected to 327 internet service provider (ISP) networks.

“We don’t require individual banks to subscribe to the Digital Island infrastructure – it’s incorporated into part of our generic communications network, which means our existing customers have seamlessly inherited the system without being aware of it,” said Cognotec’s chief operations officer, Paul Fox.

The 2Transact infrastructure will enable Cognotec customers to complete transactions over the internet by providing a two-way communication channel between the internet and its hosted customer databases. The system’s transport routing intelligence directs internet traffic along the most direct and least congested path on the network, speeding up the delivery of the managed applications.

“This agreement paves the way for the development of more diverse online services simply because we are no longer constrained by normal internet performance. The infrastructure allows us to deliver additional value-added information and services, which due to their nature, require high bandwidth,” adds Fox.

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