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Goldenberg Hehmeyer LLP extends partnership with Orc for ETF market making
ORC Software AB2011-03-15 11:25
Stockholm and London, March 15, 2011 – Orc Software (SSE: ORC), the leading provider of technology and services for the global financial industry, today announced a renewed multi-year agreement with Goldenberg Hehmeyer LLP. GH LLP will extend its use of an Orc solution to support its Exchange-Traded Funds (ETF) market making operations. The order was booked in Q1, 2011.
As part of the agreement, GH LLP will also continue to work closely with Orc for developing and refining its tailored market making solution, based on the Orc Liquidator engine. The solution provides extensive market access, which currently includes CME, EUREX, XETRA, MTA, LSE, NYSE ARCA, EURONEXT and SWX.
“Based on our experience, Orc continues to excel producing market leading technology which is both proven and adaptable as our needs evolve,” said Ralph Goldenberg, Chairman & CEO, Goldenberg Hehmeyer LLP. “Entering a long term partnership with Orc, where our specific requirements provide input to technology development, will help us remain ahead of competition in our markets.”
“Renewing and extending our partnership with Goldenberg Hehmeyer LLP is a strategically significant event for Orc,” said Lee Griggs, President EMEA, Orc Software. “GH LLP is an industry leading and demanding user of our market making solutions, and their continued trust in our ever evolving technology and services testifies to Orc’s commitment to advanced trading firms.”
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 GH LLP
Goldenberg Hehmeyer LLP is a proprietary trading firm. The firm trades across different asset classes, including cash equities, commodities, exchange traded funds, fixed income and equity derivatives.
Orc is a leading provider of technology and services for the global financial industry. Orc delivers trading and market access solutions used by proprietary trading and market making firms, investment banks, hedge funds and brokerage houses worldwide.
Available as deployed software or as managed services, Orc develops and provides the tools needed for running a profitable trading or brokerage business in today’s competitive and ever-changing markets.
With market presence in all major global financial centers, Orc provides sales and support services from its offices across EMEA, the Americas and the Asia-Pacific regions. Orc Software is listed on NASDAQ OMX Stockholm (SSE: ORC).
For further information, please contact:
Lee Griggs, President EMEA, Tel. +44 797 985 6162
Christine Blinke, VP of Marketing and Investor Relations, Tel. +46 739 01 02 01
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