Caerus Trading selects Orc Trading for expanding market making operations
Flexibility and ability to apply custom trading strategies decisive for client’s choice of Orc Trading for market making and algorithmic trading.
Stockholm, SWEDEN, Tuesday May 25, 2010 – Orc Software (SSE: ORC), the leading global provider of technology for advanced trading and connectivity, today announced that Caerus Trading BV, an Amsterdam-based market making firm, has selected an Orc Trading solution to support its market making operations, which is primarily focused on listed equity and index options trading. The order was booked in Q4, 2009, and the contract is based on Orc’s licensing subscription model.
“Our competitiveness rests on a solid market making strategy where algorithmic trading plays an increasingly important role,” says Bas Walraven, Partner, Caerus Trading. “As we are building a fully customized strategy, flexibility is the key requirement on our trading software tools. When looking at the market making solutions available from software vendors, Orc proved to have the most flexible algorithmic trading engine, which also makes us very competitive in terms of latency when trading on opportunities or hedging options trades.”
As a young and dynamic company, Caerus Trading aims to become a leading trading firm on several exchanges with initial focus on NYSE Liffe Amsterdam and Paris. The firm plans for a significant expansion in terms of markets traded in the future.
“We are very pleased to have Caerus as a customer, with their rich experience from the Amsterdam derivatives market,” says Christopher Lederer, VP Sales Continental Europe, Orc Software. “Caerus’ choice, which followed upon extensive evaluation, testifies to the strength of Orc’s market making offering.”
By including trading risk management functionality offered by Orc, Caerus makes full use of Orc Trading as a comprehensive market making solution. The firm does significant research in volatility modeling for index options market making, which makes the ability to add their own volatility model to the Orc Trading solution a significant feature, allowing Caerus to fully exploit their research findings.
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 Caerus Trading
Caerus Trading is a privately held market making firm specialized in listed equity and index options, providing liquidity in the Dutch and French derivatives markets for its own account.
The firm is based in Amsterdam, located within the exchange building on Beursplein.
About Orc Software
Orc Software is the leading global provider of technology and services for advanced trading in financial instruments. Orc’s competitive edge lies in its depth of knowledge of the trading world, gained by deploying sophisticated trading solutions 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, high performance derivatives trading capabilities, automated trading strategies and execution, ultra-low latency and risk management.
Through the acquisition of Neonet, Orc also delivers neutral, high speed brokerage services to professional market participants, with clients in over 20 countries globally. With subsidiary CameronTec, Orc is the leading provider of FIX infrastructure and low latency connectivity.
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.
Orc Software is listed on NASDAQ OMX Stockholm (SSE: ORC).
For further information, please contact:
Christopher Lederer, VP Sales Continental Europe, Orc Software, Tel. +31 6 4610 4007
Christine Blinke, VP Marketing and Investor Relations, Orc Software, Tel. + 46 739 01 02 01
Bas Walraven, Partner, Caerus Trading, Tel. +31 20 578 2101.
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