Orc announces support for Turquoise Derivatives
Stockholm, SWEDEN, Friday April 15, 2011 – Orc Software (SSE: ORC), the leading provider of technology and services for the global financial industry, today announced connectivity to Turquoise Derivatives. Turquoise Derivatives is the first Multi-lateral Trading Facility (MTF) in Europe to offer trading in pan-European derivatives.
“Turquoise Derivatives is an innovative initiative in the European derivatives markets, which will challenge the current market structure and create new opportunities for our customers,” said Lee Griggs, President EMEA, Orc Software. “A multi-listed environment is interesting for both market makers and high frequency trading firms and we believe it is essential to support Turquoise Derivatives from the first day of trading.”
Turquoise Derivatives uses the latest SOLA platform, a technology already covered by Orc. In addition, with Orc Hosted, Orc’s fully managed trading infrastructure, customers can quickly be operational in Orc’s co-located hosting facility, reducing requirements for internal IT projects.
“Orc is an acknowledged leader in derivatives trading technology, so it is great news that they will provide access to Turquoise Derivatives right from the start,” said Natan Tiefenbrun, Commercial Director, Turquoise. ”As we move to the new trading platform and introduce the concept of multi-listed derivatives in Europe, Orc’s commitment to our development will give our clients confidence that we can develop a liquid market with a diverse group of participants.”
Turquoise Derivatives is expected to become the first Multi-lateral Trading Facility (MTF) in Europe to offer derivatives trading, starting a new era in Europe for multi-listed derivatives. With multi-listed derivatives, the same or economically equivalent derivative contracts are traded over two or more markets.
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 a profitable trading or 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 EMEA, the Americas and the Asia-Pacific regions. Orc Software is listed on NASDAQ OMX Stockholm (SSE: ORC). www.orcsoftware.com
For further information:
Lee Griggs, President EMEA, Orc Software Tel. +44 797 985 6162
Christine Blinke, VP of Marketing and Investor Relations, Orc Software, Tel. + 46 739 01 02 01