Orc commits to full support of Eurex Exchange’s new trading architecture
Stockholm, SWEDEN – August 8, 2012 – Orc, a leading provider of technology and services for the global financial industry, today announced support for Eurex Exchange’s new trading architecture, the all-new trading platform scheduled for launch on December 3, 2012. Orc clients will immediately benefit from performance improvements, enhanced features and greater flexibility offered by the new platform, including new order types and more efficient processing and reporting.
Eurex Exchange´s new trading architecture will be launched in steps over a three to four month period. Orc, by working closely with Eurex Group, will support the migration from day one in each of these steps.
“Eurex Exchange’s new platform is a significant upgrade for Orc customers, so it is a priority for us to guide them in this transition which is clearly advancing state of the art trading technology,” said Jesper Alfredsson, Vice President Product Management, Orc. “Our close cooperation and long standing partnership with Eurex Exchange is a great advantage when implementing the new trading system and as a result we are pleased with progress and remain ahead of schedule.”
Orc will adapt its solutions with the intention to isolate users from technical details of the exchange’s platform migration, adding new features and options to enhance the user experience. All new functionality (e.g. order types) as well as the connectivity options introduced by Eurex Exchange will be supported. Specifically, Orc’s solutions offering for latency sensitive trading, including Orc Market Maker and Orc Liquidator, will be optimized for the new system to ensure competitiveness in highly volatile markets.
“Our new trading architecture provides advantages for all who are engaged in Eurex trading, and our technology partners have a vital role for making these real,” said Wolfgang Eholzer, Head of Trading System Design, Eurex. “Orc has demonstrated their ability to deliver tools that help traders make the most of our exchange architecture, and we are pleased that they are now on board to make the transition to our new trading platform a successful mission.”
Orc´s access to Eurex Clearing FIXML Interface will complement Orc’s offering by providing compliance with the European requirement of standardized over-the-counter derivatives to clear through a central counterparty by the end of the current year.
Orc is a leading provider of technology and services for the global financial industry. Orc delivers trading and market access solutions that are used by proprietary trading and market making firms, investment banks, hedge funds and brokerage houses worldwide.
Orc develops and provides the tools needed for running a profitable trading and brokerage business in today’s competitive and ever-changing markets.
With market presence in all major global financial centers, Orc provides sales and support services from its offices across the EMEA, Americas and Asia-Pacific regions.
Orc is owned by Nordic Capital Fund VII.
For further information, please contact:
Jesper Alfredsson, VP Product Management, Orc, Tel. +46 739 01 02 20
Christine Blinke, Chief Marketing Officer, Orc, Tel. +46 739 01 02 01