Orc Software connects to Pure Trading for go-live launch in Canada
TORONTO, NEW YORK & STOCKHOLM: Tuesday 23 January, 2007 – Orc Software (SSE: ORC), the leading global provider of technology for advanced trading, market making and brokerage, today announced market connectivity to Pure Trading in Canada from its launch date, March 9, 2007. Pure Trading is the first alternative visible auction market in Canada for exchange listed securities.
“Orc Software has worked diligently to connect to Pure Trading in order to provide its clients with full access to the Canadian equity market,” said Lida Preyma, Pure Trading’s Manager, Business Development & Marketing. “We are delighted Orc will be connected from day one when we launch in March of this year.”
“Orc Software enables customers to take advantage of market opportunities through connectivity to an unrivaled number of markets,” says Peter Sibirzeff, Managing Director – Sales for Orc North America. “Pure Trading is the 105th market that Orc trading applications connect to globally.”
Pure Trading is a new trade facility being offered by Canadian Trading and Quotation System Inc., which operates CNQ, the first new marketplace to be recognized since the implementation of National Instrument 21-101 — Marketplace Operation, and the first new Canadian stock exchange in over 70 years. It is the first visible alternative market in Canada, providing a new trading platform for Canadian exchange-listed securities. This high speed trading system utilizes the X-Stream trading engine supplied by OMX, a major shareholder in Orc Software.
Orc Software opened its Toronto-based Canadian office during 2002 with a team comprising development, support, product management and sales. Major Canadian investment banks use Orc Software’s technology, with Orc Trader the preferred front-end platform for professional traders; allowing sophisticated functionality including order entry, automation, combination trading, volatility management, basket trading, model integration, risk, and order management.