Algorithmica Research strengthens Orc’s middle office risk solution
Stockholm, Sweden, Thursday January 29, 2009 – Orc Software (SSE: ORC), the leading global provider of technology for advanced derivatives trading and connectivity solutions, today announced a partnership agreement with Algorithmica Research AB, a leading provider of solutions for advanced risk management, quantitative analysis and enterprise-wide management of historical data based in Stockholm.
The agreement enables Algorithmica to offer extended middle office risk management tools integrated with Orc’s advanced trading solutions to the financial markets globally. The Algorithmica technology complements Orc’s advanced trading and risk solutions and helps market participants meet the increasing demand for real-time quantitative financial analysis and middle office risk management. Through the partnership, Orc and Algorithmica can deliver a fully integrated solution that satisfies all business requirements from trading management.
“Orc Software is a world-leading software supplier to the global financial markets, and we are very pleased to work together with Orc and complement their state-of-the-art trading and trading risk solutions with sophisticated middle office risk management,” said Johan Treskog, Sales Manager, Algorithmica Research. “We see a dramatic increase in the market demand for real-time risk management tools. By combining our expertise in middle office risk management and quantitative financial analysis with Orc’s competitive edge to trade and do trading risk analysis from a single platform, we provide an integrated solution covering all business requirements both from the trader and the risk manager.”
“Algorithmica has been developing sophisticated software applications for the financial markets since 1993, providing banks, asset managers and corporate treasuries with innovative software solutions using the latest developments within the area of quantitative finance,” said Peter O Bäck, Sales Director Nordic Region, Orc Software. “By teaming up with Algorithmica, we greatly enhance our opportunities by offering strategic technology for electronic trading to the global financial markets. This combined with their excellent software technology skills makes Algorithmica a natural choice of partner for Orc Software and their contributions will be a welcome addition to our current sales and marketing activities in the region.”
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 Trading is used by leading financial firms worldwide for enhanced trading and risk management for electronically traded derivatives. It encompasses both screen-based trading and algorithmic trading for firms to trade any listed instrument, across all asset classes, on 100+ markets.
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 derivatives 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… 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 investment 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.
For more information, please visit www.orcsoftware.com
About Algorithmica Research AB
Algorithmica Research is a leading provider of solutions for advanced risk management, quantitative analysis and enterprise-wide management of historical data. We help our clients manage their risks with our Risk Management solution that provides a no-compromise financial risk framework using the latest market- and counterparty risk methodologies for a wide range of instruments. The Risk Management solution is based on Quantlab, Algorithmica’s award winning software development platform for quantitative financial analysis. In addition, Algorithmica provides a solution for enterprise-wide management of historical data including time-series market data, static data, and calculated data.
Most of the top ranking banks, asset managers and corporate treasuries in the Nordic region count among Algorithmica’s expanding list of clients.
For more information, please visit www.algorithmica.se
For further information:
Peter O Bäck, Sales Director, Nordic Region, Orc Software, Tel. +46 739 01 02 04
Christine Blinke, Investor Relations and Marketing Director, Tel. + 46 739 01 02 01
Johan Treskog, Sales Manager, Algorithmica Research AB, Tel. +46 76 14 14 401
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