Renell selects Orc Trading solution for Euronext trading
Orc offers a combination of strong trading features, low-latency connectivity and ease of implementation, facilitating Renell’s expansion into Euronext trading.
Stockholm, SWEDEN – Tuesday, February 21, 2012 – Orc Group (SSE: ORC), the leading provider of technology and services for the global financial industry, today announced that Renell Wertpapierhandelsbank AG, an independent brokerage and corporate finance firm based in Frankfurt am Main, has selected an Orc Trading solution to support the expansion of its trading operations. Orc will provide tools and connectivity for enabling Renell to establish bonds trading on Euronext. The order was booked in Q3, 2011, and the contract is based on Orc’s licensing subscription model.
“Looking to widen the reach of our activities into new geographical areas, we were impressed by the support Orc provided and the competence demonstrated during a business-sensitive phase,” said Mr. Marc Renell, Managing Director, Renell Wertpapierhandelsbank. “Orc offers a distinct advantage through a flexible solution that is unmatched in its global reach combined with options for local adaptation.”
Orc Trading provides the competitive edge to run multiple complex trading strategies simultaneously on a single platform. Orc Trading is used by financial firms worldwide for enhanced trading, pricing and risk management on electronically traded derivatives.
“We are excited about the partnership with Renell in jointly developing new business areas with mutual benefits,” said Hassan Riquier, Sales Manager, Orc Germany. “This is a significant new customer win for Orc, as Renell’s choice rests on our comprehensive trading functionality as well as on our broad connectivity offering. This ensures responsiveness to market requirements, including both mature established markets and new growing segments.”
About Orc Group 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 Renell
Man is the measure!’ True to this philosophy, Renell AG is in the second generation of successful work for their clients at the Frankfurt and Berlin Stock Exchanges as well as NYSE Euronext. In addition to lead broking and Xetra® specialist trading, Renell AG offers designated sponsoring, brokerage and proprietary trading, and provide IPO support for German and foreign companies, primarily SMEs.
More than 2,500 transactions each day make Renell AG one of the leading firms in the sector, providing services to big-name clients such as Deutsche Börse AG, Commerzbank AG (DAX), Heidelberger Druckmaschinen AG (MDAX), Demag Cranes AG (MDAX), Gildemeister AG (MDAX) and SolarWorld AG (Tec DAX).
Despite the size of the firm and its growth, people are still at the centre of the family business. The personal aspect is not a contradiction. Instead, it is a principle that guides Renell AGs business and success. This not only applies to the clients, with whom Renell AG maintain intensive relations – in some cases, over many years. It also applies to the team, in whose expertise and skills Renell AG trust.
www.renellbank.com/en
About Orc
Orc is a leading provider of technology and services for the global financial industry. Orc delivers trading and market access solutions used by proprietary trading and market making firms, investment banks, hedge funds and brokerage houses worldwide.
Available as deployed software or as managed services, Orc develops and provides the tools needed for running profitable trading or brokerage businesses 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 EMEA, the Americas and the Asia-Pacific regions.
Orc is publicly traded on NASDAQ OMX Stockholm (SSE: ORC).
www.orc-group.com
For further information, please contact:
Lee Griggs, President EMEA, Orc, Tel. +44 797 985 61 62
Christine Blinke, VP of Marketing and Investor Relations, Orc Group. Tel +46 739 01 02 01
Marc Renell, Managing Director, Renell, Tel. +49 (69) 133 876 50
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