Post by Sapphire Capital on Jul 17, 2008 22:44:32 GMT 4
ZURICH, Switzerland, Jul 17, 2008 (BUSINESS WIRE) -- Regulatory News:
Orc Software (STO:ORC), the leading global provider of technology for advanced derivatives trading and connectivity solutions, today announced that InCore Bank AG has selected Orc to replace key technology for its electronic trading operations. The order was booked in Q1 2008.
InCore Bank AG offers comprehensive banking and financial trading services for other banks and securities dealers, including acting as market makers and proprietary traders. The services are based on a state-of-the-art technology platform with connections to a sizable network of Swiss and international trading centers. As a first step, Orc Trading technology will be deployed by InCore Bank AG to replace the existing exchange front-end solution for SWX and SWX Europe market access.
"We have thoroughly evaluated several trading systems providers and chose to go with Orc Trading for its combination of speed and stability," said Thomas Kurzen, Head Trading Technology at InCore Bank AG. "We also appreciate the high quality of Orc's supporting organization and the great potential for growth offered by Orc's open architecture."
While the new trading solution is initially intended for proprietary trading only, InCore Bank AG plans to add new functionality, such as Orc Broker for its sales desk operations. Other future opportunities investigated by InCore Bank AG include using extended connectivity for incoming and outgoing order flow with access to multiple international markets, as offered by the Orc Connect framework.
"We look forward to working with InCore Bank AG to enhance their electronic trading services," said Anders Henriksson, President Benelux, Central and Eastern Europe with Orc Software." InCore Bank AG has a firm commitment to using leading-edge trading technology to provide superior services to their clients. Their choice of Orc Trading, made after careful study of Orc and other suppliers, greatly testifies to the strength of our offering."
Orc Trading provides the competitive edge to trade from a single platform capable of running thousands of complex trading strategies simultaneously. Orc Trading is used by financial firms worldwide for enhanced trading, pricing and risk management on electronically traded derivatives.
Orc Software is next exhibiting at Screen Events in Amsterdam, September 25. For more information refer the events section of 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 onboarding 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 (STO: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... 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 investment banks, trading and market-making firms, exchanges, brokerage houses, institutional investors and hedge funds.
Orc provides timely sales and quality support services from its offices across EMEA, Americas and Asia Pacific.
www.orcsoftware.com
About InCore Bank AG
As the first independent Swiss corporation with a banking and securities dealer license, the InCore Bank AG offers comprehensive banking services for other banks and securities dealers. In addition to providing securities trading, processing and completion of securities transactions and custody (incl. corporate actions), payment services and information regarding reporting to authorities and customers, the InCore Bank AG is also operating and servicing the entire IT infrastructure. The ultramodern technology platform of the InCore Bank AG with its high interface compatibility and connection to a sizable network of Swiss and international trading centres forms the basis of its broad service offer. InCore Bank AG is a wholly-owned subsidiary of the Maerki Baumann Holding AG.
www.incorebank.ch
Orc Software (STO:ORC), the leading global provider of technology for advanced derivatives trading and connectivity solutions, today announced that InCore Bank AG has selected Orc to replace key technology for its electronic trading operations. The order was booked in Q1 2008.
InCore Bank AG offers comprehensive banking and financial trading services for other banks and securities dealers, including acting as market makers and proprietary traders. The services are based on a state-of-the-art technology platform with connections to a sizable network of Swiss and international trading centers. As a first step, Orc Trading technology will be deployed by InCore Bank AG to replace the existing exchange front-end solution for SWX and SWX Europe market access.
"We have thoroughly evaluated several trading systems providers and chose to go with Orc Trading for its combination of speed and stability," said Thomas Kurzen, Head Trading Technology at InCore Bank AG. "We also appreciate the high quality of Orc's supporting organization and the great potential for growth offered by Orc's open architecture."
While the new trading solution is initially intended for proprietary trading only, InCore Bank AG plans to add new functionality, such as Orc Broker for its sales desk operations. Other future opportunities investigated by InCore Bank AG include using extended connectivity for incoming and outgoing order flow with access to multiple international markets, as offered by the Orc Connect framework.
"We look forward to working with InCore Bank AG to enhance their electronic trading services," said Anders Henriksson, President Benelux, Central and Eastern Europe with Orc Software." InCore Bank AG has a firm commitment to using leading-edge trading technology to provide superior services to their clients. Their choice of Orc Trading, made after careful study of Orc and other suppliers, greatly testifies to the strength of our offering."
Orc Trading provides the competitive edge to trade from a single platform capable of running thousands of complex trading strategies simultaneously. Orc Trading is used by financial firms worldwide for enhanced trading, pricing and risk management on electronically traded derivatives.
Orc Software is next exhibiting at Screen Events in Amsterdam, September 25. For more information refer the events section of 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 onboarding 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 (STO: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... 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 investment banks, trading and market-making firms, exchanges, brokerage houses, institutional investors and hedge funds.
Orc provides timely sales and quality support services from its offices across EMEA, Americas and Asia Pacific.
www.orcsoftware.com
About InCore Bank AG
As the first independent Swiss corporation with a banking and securities dealer license, the InCore Bank AG offers comprehensive banking services for other banks and securities dealers. In addition to providing securities trading, processing and completion of securities transactions and custody (incl. corporate actions), payment services and information regarding reporting to authorities and customers, the InCore Bank AG is also operating and servicing the entire IT infrastructure. The ultramodern technology platform of the InCore Bank AG with its high interface compatibility and connection to a sizable network of Swiss and international trading centres forms the basis of its broad service offer. InCore Bank AG is a wholly-owned subsidiary of the Maerki Baumann Holding AG.
www.incorebank.ch