Orc Software

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Orc Software
Founded 1987
Headquarters Stockholm, Sweden
Key People Thomas Bill, CEO
Employees Thomas Bill, Chief Executive Officer; Markus Gerdien, Chairman of the

Board of Directors; Anders Berg, Chief Financial Officer

Products Market Making, Trading and Brokerage Software
Web site www.orcsoftware.com

Orc Software provides technology for advanced trading, market making and brokerage applications. Its trading platform offers connectivity to 120 markets across multiple asset classes and currencies. The company's customers include investment banks, trading and market-making firms, brokerage houses, institutional investors and hedge funds. The company has more than 600 customers in 33 countries.

The company's revenue in 2006 was SEK 418 million, an increase of 50 percent over 2005.

Orc Software's CEO is Thomas Bill,[1] CFO is Anders Berg, and its chief technology officer is John Cameron.

Martin Koopman was Orc's former president of North American operations. Upon his departure in June of 2008, Jesper Alfredsson, vice president of trading solutions, and Steve Lukes, vice president sales, assumed all key management responsibilities related to Orc Software in the Americas.

Contents

Recent Initiatives

Orc provides connectivity solutions for new DIFX trading platform

Orc Software announced an updated market gateway to the Dubai International Financial Exchange (DIFX) and its new OMX X-Stream trading platform. Orc Software is one of the first certified vendors for the new DIFX platform.

Bank of China International Selects Orc Algorithmic Trading

BOC International Holding Limited (BOCI) has selected Orc Software’s Algorithmic Trading solution for expanding its trading capabilities.

BOCI is a wholly owned subsidiary of Bank of China Limited and has been an Orc customer since 2004. The additional function on Orc Algorithmic Trading will enable BOCI to increase its market activities in warrants market-making and index options trading. Deploying Orc Algorithmic Trading will also enable BOCI to achieve its business objectives for increasing both warrant issues and the number of instruments, without incurring additional trader costs.

Orc Software Continues Eastern European Expansion

Orc Software announced a new reseller agreement with IN2 d.o.o., a business applications developer and systems integrator based in Zagreb, Croatia.

According to the reseller agreement, IN2 will provide the full range of Orc Trading and Orc Connect products and solutions for advanced electronic trading and connectivity, including additional services and support to customers in Croatia, Serbia, Slovenia, Bosnia and Herzegovina, Kosovo and Montenegro.

Banca Aletti launches new derivatives using Orc Software

The Italian bank and established Orc Software customer, Banca Aletti, has used Orc technology to launch two new certificates for basket of stocks on the Italian Securitised Derivatives Exchange, SeDeX. The new certificates (AL7499 and AL8461) make use of Orc’s covariance matrix for derivatives based on baskets of correlated securities.

ICAP Utilizes Orc Software for FX Trading

ICAP, which operates the leading foreign exchange trading platform EBS, began using Orc Software's CameronFIX and CameronFAST in September 2007 to facilitate its FX trading. Orc and ICAP finalized the deal towards the end of 2006.[2]

Products

  • Orc Liquidator is an algorithmic trading engine capable of running hundreds of complex trading strategies. It comes with native connectivity to 100+ markets.
  • Orc Broker is a tool designed for sales traders, sales and brokers, featuring order, portfolio and customer management functionality. The application provides execution and simultaneous access to multiple markets integrated on a single screen, plus order management tools such as custom designable transaction lists, transaction depth and basket management. Deals and market reports can be generated, and information can be shared in both directions with Microsoft Excel.
  • Orc Futures application supports streamlined order entry and execution, allowing traders to quickly enter and exit single and multiple contracts in one or multiple markets, benefiting arbitrage and other spreading traders. The application runs onWindows 2000/XP and Mac OS X (UNIX) operating systems.
  • Orc Online is primarily designed for the end clients of banks and brokers. Institutional and retail users gain direct electronic access to the markets offered by the broker, in combination with financial analysis that also can include proprietary analysis reports issued by the broker.
  • Orc ExNet offers buy-side users access to all main liquidity pools including official exchanges and ECNs, without the need for exchange membership.
  • Model Builder- This application can be used to incorporate client models for calculating theoretical prices into the Orc System. It provides a graphical interface for the construction of user-defined models and front end applications.
  • CameronFIX Gateway-- Orc's CameronFIX Universal Server provides thousands of connections worldwide. CameronFIX provides business benefits such as direct market access, high availability, high speed, high throughput, integrated compliance, monitoring and exception management. CameronFIX enables communication between other applications and the Orc platform, providing order routing capabilities and access to 120 markets worldwide.
  • CameronFAST is an implementation of the FAST protocol. FAST-encoded-FIX delivers smaller transaction messages and faster execution, and lowers the cost of exchanging market data.

History

Formed in 1987 by Nils Nilsson and Ulrika Hagdahl, Orc Software's main activity was as a market maker on the Swedish derivatives exchange. Since its inception Orc Software has also continuously developed and marketed software for pricing, trading and risk management in financial markets.

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Orc Software

Through 1995, sales of the Orc Technology were focused on clients in the Nordic region. 1995 saw the first sales to clients in the UK and Switzerland, and in 1996 the first products were sold to clients in Italy, Hong Kong and Germany. In January 1997, Orc first sold its technology to new clients in Australia and Japan. Also that year, OMX acquired just over 50 percent of the shares in Orc Software. Orc continued its worldwide expansion in 1998 and 1999 with sales to clients in the Netherlands and the US.

In 2000, the company formed subsidiaries in Frankfurt, London, Milan, Moscow, New York and Sydney. Orc Software's shares were listed on the Stockholm Stock Exchange on October 19, 2000. Orc Software opened offices in Hong Kong, St. Petersburg and Zurich in 2001, and in 2002, Orc signed a distribution agreement with Reuters and opened offices in Tokyo, Toronto and Vienna.

In 2003, Orc Software opened an office in Chicago.

During the autumn of 2005, Orc Software signed an agreement with OMX regarding the development of a new front office product.

In Feb. 2006 Orc Software acquired Australian Cameron Systems, the world's leading supplier of FIX platforms.

On Aug. 23, 2007, Orc Software announced they had sold their entire minority interest in InFront, a trading application company based in Oslo, Norway.

On Sept. 24, 2007, Orc announced it had expanded its European presence with the opening of an office in Amsterdam.

People

References

  1. ↑ Orc Software Executive Bios. Orc Software AB. Retrieved on December 20, 2007.
  2. ↑ Orc Software Completes Acquisition of Cameron Systems. Automated Trader. Retrieved on October 27, 2008.

External links

Retrieved from "http://www.marketswiki.com/mwiki/Orc_Software"
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