Öhman chooses Orc’s algorithmic trading solution for new warrants and ETF trading desk

Experienced Orc customer adds users and algorithmic trading functionality to its Orc Trading solution to support new services based on algorithmic trading.

Stockholm, SWEDEN, Tuesday, February 2, 2010 – Orc Software (SSE: ORC), the leading global provider of technology for advanced trading and connectivity, today announced that Öhman Fondkommission, an investment bank based in Stockholm, Sweden, has selected Orc’s algorithmic trading solution to support the firm’s planned expansion into new areas of trading. The order was booked in Q1, 2010, and the contract is based on Orc’s licensing subscription model. A long time Orc Trading user, Öhman Fondkommission will add seats and has selected Orc Trading for Algorithmic Trading to support its newly formed team for warrants trading, Exchange Traded Funds quoting (ETFs), and arbitrage trading. “Orc Trading has been our key trading solution for several years, and we were pleased to conclude that Orc still provides the solution of choice when it comes to supporting the expansion of Öhman’s trading operations,” said Pontus Barrné, Chief Financial Officer, Öhman. “Our traders are very comfortable with using Orc Trading, and we now look forward to working with Orc to build a first-class algorithmic trading solution.” “We are proud to provide Öhman with a solution that provides a very flexible, yet robust solution that is well proven, and we look forward to providing tools to develop their trading business further,” said Peter O Bäck, Vice President Sales Nordic, Orc Software. “Öhman’s choice also reflects that Orc Trading is a highly scalable solution capable of handling growing volumes and increasing numbers of instruments.” 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 Öhman Fondkommission Öhman Fondkommission is a well-established financial services and trading firm based in Stockholm, Sweden. The firm is controlled by E. Öhman J:or AB, a family-owned investment bank with traditions on the Swedish financial markets dating back as far as 1906. Öhman offers a broad cross-section of high-quality financial services to Swedish and international institutional and private investors − including securities and bond trading, corporate finance, private banking and asset management. www.ohman.se 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 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. www.orcsoftware.com For further information, please contact: Peter O Bäck, VP Sales Nordic Region, Orc Software, Tel. +46 739 01 02 04 Christine Blinke, VP of Marketing and Investor Relations, Orc Software, Tel. + 46 739 01 02 01 Pontus Barrné, CFO, Öhman Fondkommission, Tel. +46 8 402 50 48

Tags: