Stockholm, SWEDEN, Monday April 27, 2009 - Orc Software (SSE: ORC), the leading global provider of technology for advanced trading and connectivity solutions, today announced that Maxwell Capital Group, a full-service securities firm based in Moscow, Russia has signed an agreement for using Orc Trading.
Maxwell Capital will deploy Orc Trader to provide links to the leading domestic markets: the Russian Trading System (RTS) / FORTS and the Moscow Interbank Currency Exchange (MICEX), as well as to international markets. In addition, Maxwell Capital is planning to use Orc solutions for offering DMA services to private and institutional clients, and to provide FIX connectivity to international markets. The order was booked in Q1, 2009.
"Our traders have very positive experiences from previously using Orc, and their views added to our conclusion that Orc provides the best available electronic trading and connectivity solution for our needs," said Alexander Svintsov, Managing Director, "Maxwell Capital" Investment Company LLC. "Orc's reputation as a leading global supplier to trading desks, as well as their local presence and commitment to the Russian market makes them a natural choice for meeting our trading systems requirements."
"We are proud to add Maxwell Capital to our group of Orc Trading customers in Russia," said Peter O Bäck, Vice President Sales Nordic, Eastern Europe, Russia & Austria. "This agreement demonstrates that usage of advanced trading technology continues to expand, despite struggling financial markets. Maxwell Capital invests in order to address customer requirements and to ensure that the firm will emerge from the current recession with a clear competitive edge."
About Orc Software's revenue model
Standard agreements follow Orc's licensing subscription model, a flexible approach designed to streamline the customers' 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 (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.
For further information:
Peter O Bäck, VP Sales Nordic, Eastern Europe, Russia & Austria, Orc Software,
Tel. +46 8 506 477 69
- Cell: +46 739 01 02 04