Orc Software and Credit Suisse Partner to Provide Algorithmic Trading Services and Global Market Access
New York, Tuesday, February 10, 2009 – Orc Software (SSE: ORC), the leading global provider of technology for advanced derivatives trading and connectivity solutions, has announced that Credit Suisse has joined Orc’s ExNet broker connectivity network to offer algorithmic trading services and market access to clients.
The partnership allows Orc users to trade securities directly with Credit Suisse and take advantage of Credit Suisse’s Advanced Execution Services (AES) suite of trading algorithms. Users of Orc’s trading solutions will be able to trade futures, options, and cash equity instruments with Credit Suisse on trading venues around the world.
“Credit Suisse’s AES is a leader in Algorithmic Trading across these asset classes in the industry,” notes Guy Cirillo, Global Head of Channel Sales at Credit Suisse. “In particular, we have an advanced set of algorithms available in derivatives markets where Orc Software is well known. Now, Orc and Credit Suisse customers can together take advantage of our execution algorithms and market connections.”
“The addition of Credit Suisse to Orc’s ExNet will provide our customers with a new way to trade on global markets,” notes Marty Leamy, President, Americas at Orc Software. “Offering our customers access to Credit Suisse’s advanced algorithms further strengthens Orc ExNet and provides market leading connectivity and services to the Orc trading community.”
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 gains cost-efficient access to professional buy-sides around the world.
The agreement was booked in Q4 2008.
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.
Credit Suisse
As one of the world’s leading banks, Credit Suisse provides its clients with private banking, investment banking and asset management services worldwide. Credit Suisse offers advisory services, comprehensive solutions and innovative products to companies, institutional clients and high-net-worth private clients globally, as well as retail clients in Switzerland. Credit Suisse is active in over 50 countries and employs approximately 50,000 people. Credit Suisse is comprised of a number of legal entities around the world and is headquartered in Zurich. The registered shares (CSGN) of Credit Suisse’s parent company, Credit Suisse Group AG, are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com.
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:
Barry Vasudevan, Marketing Director – Americas, Orc Software, +1 212 792.5487, barry.vasudevan@orcsoftware.com