First Derivatives has completed the acquisition of Cognotec to incorporate its hosted e-commerce enabled trading platform.
The deal is worth $4.7m and will mean that First Derivatives, a global technology and service provider to the capital markets industry. It will acquire the entire intellectual property rights of RealStream, the FX product suite for managing margins, rates and liquidity, as well as AutoDeal+, the widely used FX pricing and execution engine.
Brian Conlon, CEO of First Derivatives CEO, said: “We are delighted to have completed this acquisition. I am already on record as having said that Cognotec's business, its people and its product portfolio are highly regarded in the FX world. In the last week I have been meeting with many of Cognotec's global clients who have assured me of their continued commitment to RealStream and AutoDeal+.”