Stockholm, SWEDEN, Tuesday, September 21, 2010 – Orc Software (SSE: ORC), the leading global provider of technology and services for advanced trading in financial instruments, today announced that Stormtech Financial Services AB, a Stockholm-based independent trading firm, has selected Orc to supply the firm’s main electronic trading tools. The order was booked in Q2, 2010, and the contract is based on Orc’s licensing subscription model.
“Once we had made the decision to implement our own electronic trading facilities, having Orc supply our trading solution was clearly an easier choice,“ said Bengt Meeks, CEO, Stormtech. “Orc provides just the kind of functionality that we require, not just for trading and market connectivity, but also when it comes to integration with in-house developed systems and back-office functions.”
Stormtech has implemented an Orc Trading solution with connectivity and integration options, including a low latency market data feed.
“We are pleased to supply Stormtech’s preferred trading solution, and look forward to support their firm’s future success by delivering the tools that help them maintain a competitive edge,” said Peter O Bäck, Vice President Sales Nordic, Orc Software.
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 Orc Software
Orc Software is the leading global provider of technology and services for advanced trading in financial instruments. Orc’s competitive edge lies in its depth of knowledge of the trading world, gained by deploying sophisticated trading solutions 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 derivatives trading support, automated trading strategies and execution, high performance futures and options trading capabilities, ultra-low latency and risk management.
Through the acquisition of Neonet, Orc also delivers neutral, high speed brokerage services to professional market participants, with clients in over 20 countries globally. With subsidiary CameronTec, Orc is the leading provider of FIX infrastructure and low latency connectivity.
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.
Orc Software is listed on NASDAQ OMX Stockholm (SSE: ORC).
For further information, please contact:
Peter O Bäck, Vice President Sales Nordic Region, Orc Software, Tel. +46 739 01 02 04
Christine Blinke, VP Marketing and Investor Relations, Orc Software, Tel. + 46 739 01 02 01