Leading independent Nordic securities firm deploys Orc Trading solution for DMA
United Bankers Securities looks to gain market share by enhancing its DMA offering for the Nordic cash markets.
Stockholm, SWEDEN, March 3, 2009 – Orc Software (SSE: ORC), the leading global provider of technology for advanced derivatives trading and connectivity solutions, today announced that United Bankers Securities, an independent Helsinki-based Investment Bank, has selected Orc to support its growing need for providing Direct Market Access (DMA) services to its clients. This order was booked in Q4, 2008.
United Bankers, established in 1986, is a member of the major cash exchanges in the Nordic countries, offering brokerage services to institutions and active private investors in about twenty countries. United Bankers’ London based subsidiary, UB Securities London, focuses on serving UK and US based institutions.
Orc provides United Bankers with connectivity to the cash exchanges in the Nordic countries as well as access to other exchanges via the Orc ExNet routing network. Orc provides the platform for their customers to trade electronically on those markets. In the future United Bankers will extend their offering to also include European derivatives markets.
”As we evaluated available solutions that could meet our current and future requirements for DMA, it became clear that Orc provided the solution of choice,” said Patrick Anderson, CEO, United Bankers Securities Ab. “For us, investing in trading technology is a means for gaining market share, serving our clients and making them even more satisfied. It’s also an important part of our strategy to further develop our London office and its connectivity. We are convinced that Orc, as a market leader, with their superior technology and longtime commitment to our major markets, will help us achieve these goals.”
“United Bankers is one of the most respected independent securities firms in the Nordic Region, and their choice to become a new Orc customer is evidence of our strength in their key markets, which is also where our company’s roots are,” said Peter O Bäck, VP Sales Nordic, Eastern Europe, Russia & Austria, Orc Software. “Our ability to win new customers under the current market conditions and a persistent commitment from Orc’s existing client base has contributed to our continued growth in the Nordic region.”
Orc Trading is used by leading financial firms worldwide for enhanced trading and risk management of electronically traded derivatives. It encompasses both screen-based trading and algorithmic trading for firms to trade any listed instrument, across all asset classes, on 100+ markets.
Orc Connect is the global financial industry’s leading connectivity solution. Orc Connect provides traders and brokers with fast, reliable access to liquidity pools, both for market members and non-members, in the critical areas of execution, market data and reference data.
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 with 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 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.
For further information:
Peter O Bäck, VP Sales Nordic, Eastern Europe, Russia & Austria, Tel. +46 8 506 477 69
Christine Blinke, Investor Relations and Marketing Director, Tel. + 46 739 01 02 01