SEB’s Merchant Banking division expands the usage of the Orc platform
Leading Northern European financial group SEB adds new users and connectivity to its Orc Trading solution for market making and risk management.
Stockholm, SWEDEN, Thursday March 18, 2010 – Orc Software (SSE: ORC), the leading global provider of technology for advanced trading and connectivity, today announced that SEB’s Merchant Banking division has upgraded their Orc Trading solution to the bank’s growing needs for market making and risk management. SEB is the leading market maker on the Nordic exchanges. The order was booked in Q4, 2009 and the contract is based on Orc´s licensing subscription model. A longtime Orc Trading user, SEB will use the upgraded solution to support its derivatives market making operations, including risk management, adding low latency exchange and broker gateways and increasing the number of users. “It’s a true pleasure to work with a sophisticated Orc user like SEB, and their trust in our systems and services reflects that Orc Trading will match the highest standards for performance and reliability,” said Peter O Bäck, Vice President Sales Nordic, Orc Software. “We are currently experiencing an exceptional demand from the leading Nordic banks to upgrade their current trading and connectivity platforms. We expect this trend to continue in the region, fueled by market fragmentation as well as a result of the replacement and upgrading of platforms among the Nordic marketplaces.” 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 SEB SEB is a Northern European financial group serving some 400,000 corporate customers and institutions and five million private individuals. SEB offers universal banking services in Sweden, Germany and the three Baltic countries − Estonia, Latvia and Lithuania. It also has a local presence in the other Nordic countries, Ukraine and Russia and a global presence through its international network in leading financial centres. On December 31, 2009, the Group’s total assets amounted to SEK 2,308 billion and its assets under management totalled SEK 1,356 billion. The SEB Group has about 20,000 employees. Read more about SEB at www.sebgroup.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 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 with 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 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. www.orcsoftware.com For further information, please contact: Peter O Bäck, VP Sales Nordic, Orc Software, Tel. +46 739 01 02 04 Christine Blinke, VP Marketing and Investor Relations, Orc Software, Tel. +46 739 01 02 01 Christer Wennerberg, CTO Equity Trading Technology, SEB Merchant Bank, Tel. +46 706 15 53 59
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