Philadelphia SE-Cognizant ties improve

The software company has designed architecture to address emerging financial services industry needs for T+1, STP and related requirements. This will help the stock exchange to move to real-time data flow between front office and back office systems, as well as enable it to support internal and external interfaces for back-office processing.

Since 1999, Cognizant has worked on a number of projects with us, including application maintenance and reengineering, and we consider offshore to be a mainstream outsourcing option for us now," says Philadelphia Stock Exchange senior vice-president (development) Tom Wittman.

Cognizant has gained a deep understanding of our systems and has been able to add a lot of value through their new enterprise consulting practice in designing the new T+1 and STP architectures, he says.

We continue to combine the unique onsite and offshore model with high-value offerings to provide extraordinary solutions, says Cognizant chairmand and CEO Kumar Mahadeva.

Mahadeva says Cognizants investments in the enterprise consulting practice and financial services practice continue to attract clients who are looking for a deeper technology and specific industry expertise to address their business needs and maximise the return on equity on their technology investments.