Knight Direct joins ExNet by Orc Software for Global Market Access
London, Tuesday, August 31, 2010 – Orc Software (SSE: ORC), the leading global provider of technology and services for advanced trading in financial instruments, today announced that Knight Direct has joined the Orc ExNet broker connectivity network to offer algorithmic execution services and market access to clients. The order involved in the Orc-Knight partnership was booked in Q1, 2010, and the contract is based on Orc’s licensing subscription model.
The partnership allows Orc users to trade securities directly using Knight Direct and provides access to Knight Direct’s extensive set of execution algorithms. Users of Orc’s trading solutions will be able to trade futures, options, and cash equity instruments using Knight Direct on the global equity markets supported by Knight.
“By joining Orc ExNet, Knight Direct is able to offer its suite of award-winning execution algorithms and global market access to an even wider community of traders.” said Bradley Duke, Managing Director at Knight Capital Europe Limited. “Orc ExNet has a strong reputation for high performance and we look forward to providing clients on the network with Knight Direct’s full range of intelligent and dynamic algorithms as well as access to Knight’s unique liquidity.”
“The addition of Knight Direct to Orc ExNet provides our customers with attractive new trading options for several markets, including excellent coverage of the US and emerging global markets,” said Jon Freebody, VP Sales, UK and France, Orc Software. “Knight Direct’s extensive set of execution algorithms will also become a key resource for our users, combined with Orc ExNet’s market leading connectivity and services.”
Orc ExNet provides hedge funds, proprietary traders, and other advanced traders with non-membership access to major liquidity pools around the world, including official exchanges and ECN’s. Brokers use Orc ExNet to gain cost-efficient access to professional buy-sides around the world.
About Orc Software’s revenue model
This agreement follows Orc’s licensing subscription model to give customers access to 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 Knight
Knight Capital Group, Inc. (NYSE Euronext: KCG) is a global financial services firm that provides market access and trade execution services across multiple asset classes to buy- and sell-side firms. Knight's hybrid market model features complementary electronic and voice trade execution services in global equities and fixed income as well as foreign exchange, futures and options. The firm is the leading source of liquidity in U.S. equities by share volume. Knight also offers capital markets services to corporate issuers. Knight is headquartered in Jersey City, NJ with a growing global presence across the Americas, Europe and the Asia-Pacific region. For more information, please go to www.knight.com.
Knight Direct is a division of Knight Capital Europe Limited, a subsidiary of Knight Capital Group. Knight Capital Europe is authorized and regulated by the Financial Services Authority.
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, powerful derivatives trading support, automated trading strategies and execution, high performance futures and options trading capabilities, 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:
Jon Freebody, VP Sales, UK and France, Orc Software, Tel. +44 7789 503 377, E-mail: jon.freebody@orcsoftware.com
Christine Blinke, VP Marketing and Investor Relations, Orc Software, Tel. + 46 739 01 02 01, E-mail: christine.blinke@orcsoftware.com
Bradley Duke, Managing Director, Knight Capital Europe Limited, Tel. 44-20-7997-7818, E-Mail: bduke@knight.com
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