Stockholm, SWEDEN, Monday September 29, 2008 - Orc Software (SSE: ORC), the leading global provider of technology for advanced derivatives trading and connectivity solutions, today announced that Raiffeisen Centrobank AG has selected Orc for providing a Direct Market Access (DMA) solution for electronic trading on the Bucharest Stock Exchange (Bursa de Valori Bucureşti). The order was booked in Q3, 2008.
Raiffeisen Centrobank AG, a leading issuing bank in Austria with regional focus on Austria, Germany, and Central- and Eastern Europe, is an established Orc customer, having used Orc solutions in its securities trading and sales operations for several years. Raiffeisen Centrobank bank is now expanding its presence in Romania. For that purpose, the bank has obtained membership with the Bucharest Stock Exchange, which allows for offering DMA services to its clients.
Part of the Orc Connect connectivity solution, the new Orc DMA for Brokerage implementation for the Bucharest Stock Exchange has been co-developed with E2E infotech, a subsidiary of India-based Aurion Pro, an Orc business partner which provides additional integration products and related professional services to customers globally.
"As we already use Orc's trading solutions in our daily operations and have a solid trust in their capabilities, Orc was our first choice for technology supplier when preparing to grow our business in Eastern Europe," said Günter Völker, Director IT & Organisation, Raiffeisen Centrobank. "We were pleased to find that Orc delivers just the kind of connectivity solutions we require to build a highly competitive DMA offering to cover several key markets in this region."
Orc Connect is the global financial industry's leading connectivity solution. Orc Connect provides traders and brokers with fast, reliable access to liquidity pools, both for market members and non-members, in the critical areas of execution, market data and reference data.
"Orc has an unrivalled connectivity offering for reaching into the emerging markets of Eastern Europe," said Anders Henriksson, President Benelux, Central and Eastern Europe, Orc Software. "Raiffeisen Centrobank is a visionary and innovative force on the financial markets in this region, and we are pleased to enjoy their continued trust when providing the solutions and services needed for their expansion in Romania."
The Bucharest Stock Exchange is the latest addition to Orc's growing list of broker and market connections to this region, which currently includes leading markets in the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Russia, with extensions planned for a number of exchanges in the Adriatic region.
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, Tel. +43 676 721 51 16
Christine Blinke, Investor Relations and Marketing Director, Tel. + 46 739 01 02 01