Banca Akros expands Orc Trading installation beyond proprietary trading to DMA services
Milan, ITALY, Monday September 14, 2009 – Orc Software (SSE: ORC), the leading global provider of technology for advanced trading and connectivity, today announced that Banca Akros, a private Italian investment firm and established Orc Software customer, has signed a two year agreement to add support for Direct Market Access services (DMA) using Orc Trading by consolidating their trading operations in Milan with Orc Software. The order was booked in Q3 2009 and the contract is based on Orc’s licensing subscription model.
“This agreement was a natural step forward for our organization. We have always appreciated Orc’s ability to support the growing trading needs of our bank,” said Ferrante Zilioli, Head of Organization & IT at Banca Akros. “Thanks to the scalability of the Orc solution, we are able to increase our DMA services and make our offering more competitive and attractive for professional clients who want to trade on regulated and OTC markets while monitoring the position risks in real time through the Orc workstations.” “Banca Akros is a leading investment firm and one of our most established customers in Italy,” declared Daniele Moressa, Sales Manager Italy, Orc Software. “The decision to grow their relationship with Orc demonstrates the high level of performance and reliability of our solutions. DMA services are a business area that can open new market opportunities, and we are pleased that Banca Akros has decided to further invest in Orc to perform as a leader in that segment.” Orc Trading provides the competitive edge to trade from a single platform capable of running thousands of complex trading strategies simultaneously. Orc Trading is used by financial firms worldwide for enhanced trading, pricing and risk management on electronically traded derivatives. Orc Connect is the global financial industry’s leading connectivity solution. Orc Connect provides traders and brokers with fast, reliable access to liquidity pools, both for market members and non-members, in the critical areas of execution, market data and reference data. Orc Software is next presenting its “Innovative Trading Solutions” during an algorithmic trading seminar in Paris on September 29th. For more information, please visit the events section on the Orc website. About Orc Software’s revenue model Standard agreements follow Orc’s licensing subscription model, a flexible approach designed to streamline the customer on boarding process and provide ease of access to software updates, together with a mature support framework. Customers are invoiced quarterly, in advance, and revenue allocated to the invoicing period. About Orc Software Orc Software (SSE: ORC) is the leading global provider of powerful solutions for the worldwide financial industry in the critical areas of advanced trading and low latency connectivity. Orc’s competitive edge lies in its depth of knowledge of the derivatives trading world gained by deploying advanced solutions for sophisticated traders for over 20 years. Orc Trading and Orc Connect provide the tools for making the best trading and connectivity decisions with strong analytics, unmatched market access, powerful automated trading functionality, high performance futures and options trading capabilities, ultra-low latency and risk management. Orc’s customers include leading banks, trading and market-making firms, exchanges, brokerage houses, institutional investors and hedge funds. Orc provides sales and quality support services from its offices across EMEA, Americas and Asia Pacific. www.orcsoftware.com About Banca Akros Banca Akros is an investment and private banking institution owned by Banca Popolare di Milano Group, with a credit rating Standard & Poor’s “A- long term”. The Bank is a point of reference for institutions, companies and private individuals operating on financial markets. The strategy of Banca Akros is based on innovation and specialisation thanks to its established domestic activity strongly expanded into all main international markets. Banca Akros’ investment banking activities include Italian and international stocks and bonds broking & trading, market making in financial derivatives, stock-exchange listings, corporate advisory, treasury and forex desk, custody and settlement services. Banca Akros’ private banking activity includes tailor made asset management, order collection for trading in all domestic & international markets and wealth management services for its high net worth private clients. All the specialised services Banca Akros offers its clients are underpinned by a constant financial research activity into domestic and European financial markets. www.bancaakros.it Media contacts: Ferrante Zilioli, Head of Organization & IT, Banca Akros, Tel. +39 02 4344 4565 Daniele Moressa, Sales Manager, Orc Software, Tel. +39 02 805 807 12 Christine Blinke, Investor Relations and Marketing Director, Orc Software, Tel. + 46 739 01 02 01 For further information, including image downloads, please visit the Orc Software Press Room at: http://www.orcsoftware.com/About-Orc/Orc-Press-Room