Itiviti

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Itiviti
Itiviti Company Logo.png
Founded 2016
Headquarters Kungsgatan 36, 5th floor, P.O. Box 7742 Stockholm, Sweden

Image: 200 pixels

Key People Rob Mackay, CEO; Per Larsson, Chairman; Troels Jensen, COO
Employees 1000
Products Trading execution and risk management software and connectivity
Twitter @itiviti_ab
LinkedIn Profile
Facebook Page
Website http://www.itiviti.com/
Releases Company News

Itiviti is a Stockholm-based software firm specializing in electronic trading technology, financial messaging infrastructure and connectivity.[1]

The company, which is majority-owned by Nordic Capital Fund VII, was established in 2016 to combine two established brands, Orc Group and CameronTec, into a single entity. It has 400 staff in 13 offices worldwide.

The merger of the two subsidiaries was announced in October 2015. The company said the change was called for because "IT budgets continue to be squeezed amid continued introduction of tighter regulatory measures, [and] the resulting heightened pressure is forcing firms to streamline their trading technology." [2] Orc Group acquired Cameron Systems in 2006.

Orc, founded in 1987, provides technology for advanced trading, electronic execution and professional services solutions to the global financial industry. Its trading platform offers connectivity to over 150 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 200 customers in 30 countries and has offices in Chicago, Hong Kong, London, Milan, New York, St. Petersburg, Stockholm, Sydney, Tokyo and Toronto.[3]

CameronTec, established in 2009, is dedicated to the development, management and distribution of CameronFIX, a Java framework designed for the handling of messages conforming to the Financial Information Exchange protocol, and Catalys, an integrated FIX environment based on CameronFIX.

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 also continuously developed and marketed software for pricing, trading and risk management in financial markets.[4]

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 U.S.

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 Oct. 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.

ICAP began using Orc's CameronFIX and CameronFAST in September 2007 to facilitate its FX trading. Orc and ICAP finalized the deal towards the end of 2006.[5]

Orc Software acquired its rival Neonet in April 2010 for around SKr 1,227 million, but later offloaded it to a team made up of Neonet's management, Hay Tor Capital and Kas Bank.[6] [7] [8] [9]

Orc separated its three businesses, Orc, Neonet and CameronTec, in March 2012. [10]

On Nov. 1, 2010, Orc announced access to the Brazilian markets through the broker Alpes Corretora de Cambio (Alpes). [11]

On April 25, 2012, Orc announced that it had integrated the Orc Trading products with Cscreen, NYSE Liffe’s global pre-trade price discovery platform, providing traders with a more efficient way of interfacing Indications of Interests (IOIs) for equity and index derivatives from inter-dealer brokers.[12]

On July 23, 2012, Orc announced a partnership with Blue Trading Systems that would integrate BlueTrade’s tablet system with Orc’s electronic options platform.[13]

In April 2014, BCS Financial Group partnered with Orc to allow Orc’s clients to trade Russian securities and derivatives on the Moscow Exchange and on the London Stock Exchange. [14]

Orc Group's parent company acquired Tbricks in January 2015, with the intention of transferring ownership of Tbricks into Orc and incorporating it into Orc's trading platform,[15] and on February 19, 2015, Orc launched the new trading platform as Orc Tbricks [16]

In January 2015 UBS Securities extended its broad usage of Orc’s Electronic Execution solution to facilitate DMA on the Australian Stock Exchange (ASX) and the Chicago Mercantile Exchange (CME). [17]

In February 2015, Erste Group’s Equity Capital Markets team migrated to Orc’s Electronic Execution platform. [18]

In March 2015, Orc added connectivity to Nasdaq's new futures exchange, NFX. [19] That same month is also connected to Aequitas NEO Exchange in Canada. [20]

In May 2015, the new Orc Tbricks trading platform began offering a certified interface to the Chicago Board Options Exchange, including the CBOE Futures Exchange (CFE). [21]

In June 2015, Shanghai ShenYi Investment Co. (ShenYi) implemented Orc’s Trading Bricks solution to improve trade efficiency for ETF options trading on the Shanghai Stock Exchange (SSE). [22]

Orc announced connectivity to Borsa İstanbul on August 25, 2015.[23]

On October 31, 2017, Itiviti announced a strategic alliance with IHS Markitto to create an ETF solution integrating the Tbricks trading platform with SOLA, the ETF data service from IHS Markit.[24]

Itiviti merged with ULLINK on March 14, 2018, and its board appointed Torben Munch as chief executive officer of the combined entity.[25]

People

Office Locations

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Interactive Map

Headquarters

  • Kungsgatan 36, 5th floor, P.O. Box 7742, Stockholm SE-103 95, Sweden

Europe

  • 23 Camomile Street, 3rd Floor, Camomile Court, London EC3A 7LL, UK
  • 21 Boulevard Haussmann, Paris 75009, France
  • Via Fieno, 1, Milan 20123, Italy
  • 1 Victor Deleu Street, 2nd & 3rd Floor, 400112, Cluj-Napoca, Cluj, Romania

Asia

  • Yakubovicha 24, New St. Isaac Office Centre, St. Petersburg 190000, Russia
  • 1B4, Gundecha Onclave, Kherani Road, Saki Naka, Andheri (East), Mumbai 400072, India
  • RASA Nihonbashi Bldg. 3F, 1-11-5 Nihonbashi Kakigara-cho, Chuo-Ku, Tokyo 103-0014, Japan
  • Room 4201-05, Hopewell Centre, 183 Queen’s Road East, Hong Kong, Hong Kong S.A.R.
  • 5F, Multinational Bancorporation Centre, 6805 Ayala Ave, Manila 1226, Philippines
  • OCBC Centre, 65 Chulia Street, Singapore 049513, Singapore

Australia

  • Sydney Level 18, 56 Pitt Street, Sydney, NSW 2000, Australia

North America

  • 101 W Lakeshore Dr, Houghton, MI 49931 USA
  • 190 S. LaSalle Street, Suite 1200, Chicago, IL 60603, USA
  • 11 Times Square, 31st Floor, New York, NY 10036, USA
  • Toronto

South America

  • Rua Cubatão, 86, 18 andar, CJ 1804, Vila Mariana, São Paulo, SP, CEP 041013-000, Brazil

References

  1. Itiviti AB Established to Deliver Powerful Trading and Connectivity Offering Built for the Future. Yahoo Finance.
  2. Orc Group Holding AB: Orc Group and CameronTec Group Join Forces. Orc Group.
  3. Orc company information. Orc.
  4. History of Orc. Orc Software.
  5. ICAP Utilizes Orc Software’s CameronFIX and CameronFAST to Support FX Trading over FIX Protocol. Cision Wire.
  6. Orc/Neonet merger enables joint equity and derivatives offering. The Trade News.
  7. Orc offloads Neonet to management and Hay Tor Capital. Finextra.
  8. Orc Software in offer for Neonet. The Financial Times.
  9. Orc/Neonet merger enables joint equity and derivatives offering. The Trade News.
  10. Orc, Neonet and CameronTec to be Operated as Separate Companies. Orc Group.
  11. Orc Software Provides Connectivity to Brazilian Markets via Broker Alpes Corretora De Cambio. BusinessWire.
  12. Orc integrates Cscreen to provide OTC pricing and reporting functionality. Orc.
  13. Orc partners with Blue Trading System. Orc.
  14. BCS Announces Partnership with Orc Granting Russian Market Access to International Investors. Orc Group.
  15. Orc Group Holding AB: Orc Group Holding AB´s owner Cidron Delfi Intressenter Holding AB acquires Tbricks AB. BusinessWire.
  16. Orc Introduces Orc Tbricks. Orc Group.
  17. UBS Extends Orc's Electronic Execution Solution. Orc Group.
  18. Erste Group adds Orc electronic execution. Orc Group.
  19. Orc extends connectivity of Nasdaq markets. Orc Group.
  20. Orc extends connectivity to include Aequitas NEO Exchange. Orc Group.
  21. Orc obtains CBOE certification. Orc Group.
  22. Shanghai ShenYi Investment. Orc Group.
  23. Orc Extends Connectivity to Borsa İstanbul to Enable Access from Next-Generation Trading Platform. press release via Businesswire.
  24. Itiviti Integrates ETF Data From IHS Markit in Delta One Solution. Press release from PR Newswire.
  25. Itiviti and ULLINK Complete Merger to Build a Global Technology Force in the Capital Markets Industry; Torben Munch Appointed CEO. press release via PR Newswire.