Banca Aletti utilizes Orc Technology to launch new Derivatives Products on Italian Market
Milan, ITALY: Wednesday 9 January 2008 – Orc Software (SSE: ORC), the leading global provider of technology for advanced derivatives trading and connectivity solutions, today announced leading Italian bank and established Orc Software customer, Banca Aletti, has utilized Orc technology to launch two new Certificates for basket of stocks on the Italian Securitised Derivatives Exchange, SeDeX.
The new Certificates (AL7499 and AL8461) make use of Orc’s covariance matrix for derivatives based on baskets of correlated securities.
“Banca Aletti’s decision to utilize Orc Trader was based on the sophisticated pricing and quoting functionality provided, thereby enabling us to develop proprietary models while also making use of Orc’s covariance matrix functionality,” says Alessandro Garufi, Banca Aletti’s head of Equity Structured Products. “We are pleased the Orc solution delivered to our exact requirements.”
Antonio Guidi, Orc Software's Sales and Account Manager for Western Europe says: "Orc Software is pleased to deliver additional enhancements and market advantage for Banca Aletti in the critical areas of pricing and quoting."
Banca Aletti, the investment bank of Banco Popolare (MTA: BP), and an established Orc Software customer since 2004, today uses Orc technology including Orc Trader, Orc API and Orc market connections for the Italian Derivatives Market (IDEM), Italian Stock Exchange's (MTA), Securitised Derivatives Exchange (SeDeX), Mercato Alternativo dei Capitali (MAC), Eurex, Xetra, Euronext and Euronext.Liffe.Financials.
Orc Trader is a high-performance front-end application that allows traders to customize volatility models, pricing and automated quoting. Orc Trader meets demanding market requirements for handling large trading volumes, providing fast execution and comprehensive risk management.
Orc Software and Banca Aletti are respectively exhibiting in Italy at the Congresso ATIC FOREX in Bari, January 18 &19, 2008.
About Orc Software’s revenue model
This agreement follows Orc’s licensing subscription model to give customers access to the software, new versions and support as long as the agreement is valid. Customers are invoiced quarterly in advance and revenue allocated to the invoicing period.
About ORC Software
Orc Software (SSE: ORC) is a leading global provider of technology for advanced derivatives trading and connectivity. Orc provides solutions and services to its worldwide customers from its offices across Europe, North America and Asia Pacific. Orc Software's customers include leading investment banks, trading and market-making firms, exchanges, brokerage houses, institutional investors, hedge funds and software vendors. Orc Software has offices in London, Milan, Stockholm, Amsterdam, Frankfurt, Moscow, St Petersburg, Vienna, Zurich, Chicago, New York, Toronto, Hong Kong and Sydney.
www.orcsoftware.com
About Banca Aletti
Banca Aletti & C. S.p.a, part of the Banco Popolare Group, offers a comprehensive range of financial services that spans from the investment banking services to the investment management and private banking ones. The investment banking division provides individual investors and financial institutions, as well as corporate clients, with an efficient access to Italian and international money, fixed income, foreign exchange, commodities and derivatives markets. It also provides customers with a full range of financial risk management products. Thanks to the synergies among the investment management division’s financial expertise and the private banking division’s client-driven approach, Banca Aletti offers a full range of value-added wealth management solutions to meet the specific and increasingly sophisticated needs of individual investors.
www.aletticertificate.it, www.alettibank.it
For further information:
Matteo Carcano, Orc Software +39 02 8058 071
Alessandro Garufi, Banca Aletti +39 02 43358180
Annie Walsh, Orc Software + 44 20 7942 0950