Tullett Prebon utilizes Orc Software for listed derivatives trading in Paris
Paris, FRANCE, Tuesday March 17, 2009 - Orc Software (SSE: ORC), the leading global provider of technology for advanced derivatives trading and connectivity solutions, today announced that leading global Inter Dealer Broker (IDB) Tullett Prebon has signed an agreement for using Orc Trading as the main derivatives trading platform for their listed derivatives trading desk in Paris. The order was booked in Q1, 2009.
“We selected Orc Trading because of its superior level of sophistication and proven robustness,” says Olivier Pierre, Head of Continental Europe IT. “The Orc solution will help Tullett Prebon to develop our service offering and provide first-rate services to our clients based on a strong reliable trading platform.”
“Tullett Prebon is one of the big four IDBs, and we are honored to work with them on the listed derivatives side of their business,” says Michel Balter, Sales Director France, Orc Software. “With Orc as their main trading solution in Paris, Tullett Prebon has a strong and flexible solution on which to grow their business, and we look forward to supporting their operations and future developments.”
Orc Trading is used by leading financial firms worldwide for enhanced trading and risk management of electronically traded derivatives. It encompasses both screen-based trading and algorithmic trading for firms to trade any listed instrument, across all asset classes, on 100+ markets.
Orc Software is next exhibiting at the TradeTech Conference Europe in Paris, April 21–24. For more information, please visit the events section on the Orc Software website.
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 Tullett Prebon
Tullett Prebon (www.tullettprebon.com) operates as an intermediary in wholesale financial markets facilitating the trading activities of its clients, in particular commercial and investment banks. The business now covers the following major product groups: Volatility, Rates, Non Banking & Sterling Cash, Treasury, Energy, Credit, Environmental and Equities. Tullett Prebon's electronic broking division offers electronic solutions to these products. In addition to its brokerage services, Tullett Prebon offers a variety of market information services through its IDB Market Data division, Tullett Prebon Information.
Tullett Prebon has its principal offices in London, New York, Hong Kong, Singapore and Tokyo, with other offices, joint ventures and affiliates in Bahrain, Bangkok, Calgary, Frankfurt, Jakarta, Kuala Lumpur, Luxembourg, Manila, Mumbai, Paris, Salt Lake City, Seoul, Shanghai, Sydney, Toronto, Warsaw and Zurich.
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 derivatives 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.
For further information:
Michel Balter, Sales Director for France, Tel. +33 1 73 02 89 95
Christine Blinke, Investor Relations and Marketing Director, Tel. + 46 739 01 02 01