Source:
Orc Software, a leading provider of technology for advanced market making, trading and brokerage, and Citigroup have signed a cooperation agreement that enables issuers of financial products like warrant certificates and also equities to gain fast and easy access to CATS-OS (Citibank Automated Trading Platform), a leading derivatives platform.
From the end of June, all customers who already deploy Orc Software's technology will be able to directly access Citigroup's CATS-OS.
The cooperation will offer not only the larger issuing houses in Europe but also smaller trading houses a cost-efficient solution to obtain quick and simple access to the top 40 brokers in Europe trading on CATS-OS. Top issuers on CATS-OS are ABN Amro, Goldman Sachs, Deutsche Bank, UBS Warburg, Merrill Lynch, HSBC Trinkaus, the Bankgesellschaft Berlin and Berliner Freiverkehr.
The growing pressure on costs in the banking sector requires increases in efficiency, especially in equities and derivatives trading. "To develop market connections to different trading platforms involves high investment costs. Users of the Orc interface to the CATS-OS platform enjoy cost advantages, which in turn can have beneficial effects for end customers", believes Anders Henriksson, Managing Director of Orc Software in Germany.
"Automatic direct access to the top retail brokerage market is of interest to all companies on financial markets that want to continue to thrive in the tough competitive environment", says Marco Diehl, Director of Strategy & Markets CATS-OS, Citigroup. "We are likewise convinced that the joint initiative will be a success. By enabling Orc users to link to our platform, we will raise liquidity and thus further increase the attractions of CATS-OS. This will draw the attention of other, potential customers to the special services that we offer."