Prime International Trading Deploys Orc Liquidator for Algorithmic Futures Trading
Chicago – Monday, November 26, 2007 - Orc Software (SSE: ORC), the leading global provider of technology for advanced derivatives trading and connectivity, today announced Prime International Trading, a Chicago-based trading firm, has deployed Orc Software’s Liquidator for its algorithmic futures spreading solution on CME and NYMEX.
“Futures spreading is a critical part of our business and we are delighted with our decision to use Orc Liquidator to deploy our algorithmic futures spreading strategies,” notes Steve Crowley, Head of IT for Prime International Trading. “Our requirements for extremely low latency, flexibility to design our own algorithms to allow for fully automated trading, and the scalability of Liquidator to support many more products than our previous solution were key to our decision in choosing Orc Software.”
“Prime International Trading’s decision to use Orc Liquidator for automated futures spreading is a strong testament to the speed and flexibility of our algorithmic trading solutions,” said Steve Lukes, VP of Sales for Orc Software. “Our customers demand low latency and fast time-to-market. Orc Software is able to deliver on those demands, and Prime International Trading’s selection of Orc Liquidator is an excellent example of this.”
Orc Liquidator is an algorithmic trading solution that allows the rapid deployment of custom trading strategies at a processing speed of over 20,000 orders per second with sub-millisecond latency. Among the custom strategies commonly deployed on Liquidator are cross market futures spreads, listed spread vs. synthetic spread, pairs trading, volatility trades, currency cash and futures arbitrage, options market making, and local exchange vs. ADR. Orc Liquidator, available as either a deployed or hosted solution, has connectivity to over 100 exchanges worldwide.
Orc Software is exhibiting at the FIA Futures & Options Expo at the Hyatt Regency Hotel in Chicago, IL on November 27 – 29.
About Orc Software’s revenue model
This agreement follows Orc’s licensing subscription model to give customers access to the 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.
About Orc Software
Orc Software (SSE: ORC) is a leading global provider of technology for advanced derivatives trading and connectivity. Celebrating 20 years in 2007, Orc provides solutions and services to its worldwide customers from its offices across Europe, North America and Asia Pacific. Orc Software's customers include leading investment banks, trading and market-making firms, exchanges, brokerage houses, institutional investors, hedge funds and software vendors.
CameronFIX, the number one Financial Information Exchange protocol (FIX) platform, is an Orc Software connectivity solution. CameronFIX is used as a FIX platform by major members of the global financial industry. www.orcsoftware.com
Contact:
Barry Vasudevan, Marketing Director, North America, barry.vasudevan@orcsoftware.com, 212-792-5487
Steve Lukes, VP of Sales, North America, steve.lukes@orcsoftware.com, 312-327-8557