BTM goes live with Cognotec's Market Rate Manager

Foreign exchange solutions provider Cognotec announced that The Bank of Tokyo Mitsubishi (BTM) has gone live with the Market Rate Manager (MRM) solution.

First Published by e-Forex News: April, 2005

Foreign exchange solutions provider Cognotec announced that The Bank of Tokyo Mitsubishi (BTM) has gone live with the Market Rate Manager (MRM) solution. MRM is part of Cognotec's AutoDeal range of solutions, already used by BTM to service its clients online.<br>
The bank is using MRM to provide a single source of bank-specific rates to various internal systems and global clients on FXall and FX@BTM its online service. In addition, MRM's time zone functionality gives the BTM's London and New York offices more independence in providing their own rates to clients. "Historically, eFX systems have relied heavily on generic rate feeds. The MRM implementation has allowed BTM's dealers to generate a 'bank rate' more accurately and with complete visibility, thus giving dealers greater confidence in quoting larger amounts automatically. This has integrated BTM dealers into the overall eFX workflow," explained Denis Sweeney, MD of Cognotec Asia Pacific.