Nyenburgh deploys Orc Spreader for low-latency spread trading on Asia Pacific markets
For immediate release: Hong Kong, Sydney and Tokyo – Monday, November 8, 2010 – Orc Software (SSE: ORC), a leading provider of technology and services for the global financial industry, today announced that Nyenburgh has deployed Orc Spreader for low-latency spread trading across Asian markets. The order was booked in Q4, 2010, and the contract is based on Orc’s licensing subscription model.
Orc Spreader is a server-based, arbitrage-style trading product for trading on multiple markets and across multiple asset classes. It is used by futures spreaders, pairs traders, and other high frequency arbitrageurs that demand fast, smart and flexible trading logic that can be deployed quickly without substantial IT investment.The Product is part of Orc’s Trading suite of solutions and was launched during the third quarter of this year.
Nyenburgh is a proprietary trading firm with offices in Amsterdam, Singapore and Tallinn, trading on exchanges in Asia, Europe and the USA. The Singapore office has added Orc Spreader to further support their traders in developing and executing arbitrage-style strategies on APAC markets.
“The Orc Spreader combines the speed, configurability and ease of implementation that we were looking for. By leveraging Orc’s industry proven trading engine and market connectivity we are also getting confidence from the stability provided alongside the low internal processing latency,” says Alan Donoghue, Managing Director, Nyenburgh.
“With the Orc Spreader’s recent launch, we were really pleased to have had such an early opportunity to work with Nyenburgh in order to prove the product in the APAC market,” says Grant Wilson, Regional Sales Manager, Asia Pacific, Orc Software. “Nyenburgh’s choice, made after an extensive evaluation is a great testimony to the speed, performance and scalability of Orc Spreader.”
The Orc Trading solutions are used by leading financial firms worldwide for market making, volatility trading and high-frequency trading. Together with access to all major cash and derivatives markets and a network of brokers, this is truly an unmatched offering. Orc Trading is available both as deployed software and as a managed service.
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.
Nyenburgh is a proprietary trading firm focused on day trading and arbitrage trading. From offices in Amsterdam, Singapore and Tallinn; Nyenburgh successfully trades on exchanges in Asia, Europe and the USA.
More than 65 highly skilled professionals combined with a very sophisticated low latency trading system have given Nyenburgh a solid foothold in the market.
About Orc Software
Orc is a leading provider of technology and services for the global financial industry. Orc delivers trading and market access solutions used by proprietary trading and market making firms, investment banks, hedge funds and brokerage houses worldwide.
Available as deployed software or as managed services, Orc develops and provides the tools needed for running profitable trading or brokerage businesses 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 EMEA, the Americas and the Asia-Pacific regions.
Orc Software is publicly traded on NASDAQ OMX Stockholm (SSE: ORC).
For further information, please contact:
Greg Chambers, President, APAC, Orc Software, Tel: +852 2167 1950
Agnes Wong, Senior Marketing Manager, APAC, Orc Software, Tel: +852 2167 1986
Alan Donoghue, Managing Director, Nyenburgh, Tel: +65 31 20 607 5000