Stockholm, SWEDEN, Monday September 8, 2008 - Orc Software (SSE: ORC), the leading global provider of technology for advanced derivatives trading and connectivity solutions, today announced an updated market gateway to the Dubai International Financial Exchange (DIFX) and its new OMX X-Stream trading platform. Orc Software is one of the first certified vendors for the new DIFX platform.
Since the DIFX went operational 2005, the exchange has experienced explosive growth. The DIFX currently lists shares, structured products, Sukuk (Islamic) and conventional bonds. The exchange plans to introduce new asset classes shortly, such as equity derivatives, as well as increase listings in its existing equities trading.
"Orc provides advanced trading solutions and liquidity access to our members, while the exchange also relies on Orc's CameronFIX solution as a part of our new trading platform," said Dean Noble, Vice President, Head of Market Operations DIFX. "The high performance and proven reliability offered by Orc makes their new market gateway an ideal choice for DIFX trading members and market data providers, as they prepare for the next-generation X-Stream trading platform."
Orc Liquidity Access provides traders with the complete solution for fast, reliable access to derivatives and cash markets globally. Orc Liquidity access provides access to 100+ low latency markets via membership, and enables exchange non-members to reliably connect to 90+ markets worldwide.
"The DIFX is at the center of a booming financial market, and their demand - as well as support - for Orc technologies is a milestone for our efforts to advance Orc's business in the Middle East region," said Anders Henriksson, President Benelux, Central and Eastern Europe, and the Middle East, Orc Software. "As the DIFX develops and expands into advanced derivatives trading, their members and clients will increasingly rely on high-performance connectivity, which Orc will be ready to provide and support locally."
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 (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... 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.
For further information:
Anders Henriksson, President Benelux, Central and Eastern Europe, and the Middle East, Tel. +43 676 721 51 16
Christine Blinke, Investor Relations and Marketing Director, Tel. + 46 739 01 02 01