Orc clients take advantage of CBOE CMi 2.0
Orc clients to enjoy significantly improved performance for orders and trades with CBOE’s updated CMi 2.0 exchange protocol.
Chicago, IL, Tuesday, August 28, 2012 – Orc, a leading provider of technology and services for the global financial industry, is pleased to announce its support of CBOE’s updated CMi 2.0 exchange protocol. Clients utilizing the Orc Trading products, including Orc Liquidator, Orc Market Maker and Orc Trader with Orc’s CBOE gateway will experience significantly improved performance for orders and trades.
Orc has dramatically improved the performance of its CBOE market gateway, specifically optimized for mass quoting with Orc Market Maker and Orc Liquidator. With a “tuned” CBOE gateway and Orc Market Maker’s fast and accurate market making logic, Orc’s solutions for market making has reduced end-to-end latency by over 90% for Orc clients trading CBOE markets. Clients are among the fastest in the market in quoting options on the CBOE. This advanced trading logic also gives Orc’s clients robust hedging logic to maximize profit.
Mark Harmon, Trader at Sallerson-Troob, comments, “I trade ETFs on CBOE and am able to achieve my desired quote speed and performance with the Orc Market Maker product. Additionally, Orc has made it possible to compete at a high level in the market making space by making it easy to handle my volatility skew, by automating the relationship between products and by automating hedging and value adjustments after a quote fill. Market Maker also allows me to respond to complex and outright auctions and meet the exchange quoting requirements.”
“CBOE’s new CMi 2.0 interface provides lower latency and better performance for CBOE participants,” Gerald O’Connell, CBOE Executive Vice President and Chief Information Officer, said, “and we are pleased that Orc supports this upgrade.”
Jesper Alfredsson, VP of Product Management, Orc, comments, “Orc has been developing market making technology for over 20 years and we are committed to bringing the fastest, smartest and most efficient systems to the markets. We wanted to further the success our clients have experienced by optimizing Orc Market Maker to perform faster on CBOE’s markets and will continue to look at ways we can help our clients achieve profitable outcomes.”
About Orc Market Maker
Orc Market Maker addresses the present and future challenges of market makers, including the need for low-latency quoting and to efficiently reach multiple markets using a single interface. It adds key features for sophisticated volatility and pricing management, including a rich volatility management interface and a Volatility Model API which facilitates development of proprietary models. Orc also provides pre-defined and configurable volatility models, as well as built-in pricing models for accurate quoting and hedging.
About Orc
Orc is a leading provider of technology and services for the global financial industry. Orc delivers trading and market access solutions that are used by proprietary trading and market making firms, investment banks, hedge funds and brokerage houses worldwide.
Orc develops and provides the tools for running a profitable trading and brokerage business 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 the EMEA, Americas and Asia-Pacific regions.
Orc Group is owned by Nordic Capital Fund VII.
www.orc-group.com
For further information:
Marty Leamy, President Americas, Orc, Tel. +312 541 4500
Jessica Titlebaum, Marketing Director Americas, Orc, Tel. +312 541 4181
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