EFG Financial Products deploys Orc Trading to support advanced structured products offering
Zurich, Switzerland: Wednesday May 6, 2008 – Orc Software (SSE: ORC), the leading global provider of technology for advanced derivatives trading and connectivity solutions, today announced that EFG Financial Products has selected Orc to supply key technology for its structured products operations. EFG Financial Products is a newly established subsidiary of EFG International, one of Switzerland’s largest private banking organizations. The order was booked in Q4 2007.
After careful study and evaluation, EFG Financial Products chose a solution that includes Orc Trader at the front end, complemented by Orc Trader for Risk Management and Orc ExNet access to route to brokers or markets where no membership is held, in combination with a third party system which is connected via a real-time interface.
”We were looking for a system that allows us to create and price structured products, with a large number of connected markets,” said Michael Hartweg, Partner with EFG Financial Products. ”Orc has shown that they can deliver these features, while meeting our requirements for managing high volumes of trading data for a wide range of financial products.”
EFG Financial Products has successfully launched its quoting and trading system, which allows the firm to successfully operate in a very competitive market, and to offer quoting and trading of highly sophisticated products to their customer base, in a very scalable and reliable way.
Orc’s elaborate Risk Management functionality is an important part of the overall solution, as it allows the growth of the operation and increase in number of products, customers, and volumes at the same level of control. The solution also includes a two-way interface, developed by Orc, to a third party application used by EFG Financial Products.
“We are proud to contribute to EFG Financial Products and their innovative approach to electronic trading,” said Anders Henriksson, President Benelux, Central and Eastern Europe for Orc Software. “This implementation demonstrates Orc’s strengths in advanced derivatives trading and connectivity, as well as the openness of our solution and their ability to interface with other key applications used by our customers.”
Orc Trading, provides the competitive edge to trade from a single platform capable of running thousands of complex trading strategies simultaneously. Orc Trading is used by financial firms worldwide for enhanced, trading, pricing and risk management on electronically traded derivatives.
About Orc Software’s revenue model
Standard agreements follow Orc’s licensing subscription model, a flexible approach designed to streamline the customer onboarding 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 timely sales and quality support services from its offices across EMEA, Americas and Asia Pacific.
www.orcsoftware.com
For further information:
Anders Henriksson, President Benelux, Central and Eastern Europe, +43 676 721 51 16
Christine Blinke, Investor Relations and Marketing Director, + 46 739 01 02 01