DragonBack selects Orc for volatility trading on Asian markets
For Immediate Release: Hong Kong, Sydney and Tokyo – Monday, July 25, 2011 – Orc Group AB (SSE: ORC), a leading provider of technology and services for the global financial industry, today announced that the Hong Kong based fund manager DragonBack Capital has deployed an Orc Trading solution to support their trading needs in their new Asia volatility strategy, the Sharp Peak Vega Fund. The order was booked in Q2, 2011, and the contract is based on Orc’s licensing subscription model.
“When evaluating trading software, we were looking for a solution that met our advanced execution needs and provided us with excellent volatility and risk management tools. Orc’s solution combined with their extensive broker coverage has given us that,” says JG Renard, CIO for the new fund. “Orc’s proven technology gives us the reach across the Asian Markets that we were looking for and provides a platform we can scale our business from.”
“We are really pleased that DragonBack have selected an Orc solution to facilitate their trading across Asia,” says Grant Wilson, Regional Sales Manager, APAC, Orc. “DragonBack’s choice is further endorsement of Orc’s position as a leading provider of advanced trading solutions in the region.”
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 Group 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 DragonBack Capital
DragonBack provides their Managers an all encompassing support infrastructure backed by a 12 person team based in Hong Kong. Their established SFC regulated (Type 9) Asset Management license enables DragonBack to independently control risk of each underlying fund, provide senior management and marketing representation, full operational support, compliance, a dedicated I.T. suite including BCP and floor space.
About Orc
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 andthe Asia-Pacific regions.
Orc Group AB is publicly traded on NASDAQ OMX Stockholm (SSE: ORC).
www.orc-group.com
For further information, please contact:
Grant Wilson, Regional Sales Manager, APAC, Orc, Tel: +852-2167-1916,
grant.wilson@orc-group.com
Agnes Wong, Senior Marketing Manager, APAC, Orc Group, Tel: +852-2167-1986,
agnes.wong@orc-group.com
Tags: