Sallerson-Troob deploys new Orc Software trading functionality for volatility trading
Chicago, Tuesday, June 22, 2010 – Orc Software (SSE: ORC), the leading global provider of technology for advanced trading and connectivity solutions, announces that Chicago-based trading firm Sallerson-Troob LLC “Sallerson-Troob” has deployed Orc Trading as a volatility trading solution for the firm. The order was booked in Q1 2010, and the contract is based on Orc’s licensing subscription model.
Sallerson-Troob is taking advantage of new functionality from Orc Software that allows traders to quickly fit volatility curves during the trading day. Managing volatility during the trading day can be time consuming and difficult. Orc Trading now allows users to access the full richness of Orc’s volatility management capabilities to automatically fit volatility curves for multiple instruments with a single click, letting the trader focus on identifying trading opportunities and reducing the time spent on ancillary tasks. This allows traders to scale their business to more instruments in more markets.
Alan Sartin, Member at Sallerson-Troob, comments, “We used to spend half of our time working with a trading system and fitting volatilities. With Orc Trading, we’re now able to do that in one click. Orc Software lets us increase our trading, find more opportunities, and ultimately make more and better trades. This functionality, combined with Orc’s excellent support and market reach, will help us remain competitive in the options market. Sallerson-Troob is actively seeking new traders and they’ll be able to take advantage of Orc Trading from day one.”
Akira Yamaguchi, Product Manager at Orc Software, notes, “Our new volatility curve fitting functionality will help traders, like those at Sallerson-Troob, maximize opportunities. Being able to manage more options and spot more opportunities with the trust that your volatilities are good is essential for today’s options traders. Traders earn their livings capitalizing on opportunities and refining their market views. A trader’s tools should be an enabler and not an obstacle.”
“Sallerson-Troob’s deployment of Orc Trading represents our continued growth in the US,” says Marty Leamy, President Americas, Orc Software. “Proprietary traders are looking for new tools to gain an edge and Orc is delighted to provide this functionality to new and existing customers alike.”
Orc Trading is used by leading financial firms worldwide for enhanced, trading and risk management on electronically traded derivatives. Orc Trading provides the competitive edge to trade from a single platform, on any listed instrument, across all asset classes, on 100+ markets. Orc Trading comprises market leading solutions including among others Orc Trading for Algorithmic Trading, Orc Trading for Arbitrage, Orc Trading for Market Making, Orc Trading for Risk Management and Orc Trading for Volatility Trading.
About Orc Software’s 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 Orc Software
Orc Software is the leading global provider of technology and services for advanced trading in financial instruments. Orc’s competitive edge lies in its depth of knowledge of the trading world, gained by deploying sophisticated trading solutions for over 20 years.
Orc Trading and Orc Connect provide the tools for making the best trading and connectivity decisions with strong analytics, unmatched market access, powerful derivatives trading support, automated trading strategies and execution, high performance futures and options trading capabilities, ultra-low latency and risk management.
Through the acquisition of Neonet, Orc also delivers neutral, high speed brokerage services to professional market participants, with clients in over 20 countries globally.
With subsidiary CameronTec, Orc is the leading provider of FIX infrastructure and low latency connectivity.
Orc’s customers include leading banks, trading and market-making firms, exchanges, brokerage houses, institutional investors and hedge funds.
Orc provides sales and quality support services from its offices across EMEA, Americas and Asia Pacific.
Orc Software is listed on NASDAQ OMX Stockholm (SSE: ORC).
About Sallerson-Troob
Alan Sartin manages traders employing specialized trading strategies within Sallerson-Troob. His research has led him to choose Orc as his preferred software partner in the use of all volatility trading.
For further information:
Barry Vasudevan, Marketing Director – Americas, Orc Software, +1 212 351 7624, barry.vasudevan@orcsoftware.com
Alan Sartin, Member, Sallerson-Troob, +1 312 362 4080, asartin@stllc.com
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