Stockholm-based trading systems vendor Orc Software has opened a sales and support office in Chicago.
Orc Software says the new office will allow it to take advantage of the move towards electronic trading at the city's exchanges.
Nils Nilsson, CEO, Orc Software, says: "We are following with great interest the increasing competition between the exchanges in Chicago and the increased activity regarding electronic trading. Local presence in Chicago substantially improves our possibilities to successfully compete in this market."
The new office will be headed by Patrik Ristner, who has extensive trading experience, most recently at Van der Moolen in Germany. He was also head trader, responsible for equity derivatives market making and arbitrage trading, at JP Nordiska in Sweden (currently Kaupthing Bank).
The vendor also has a sales and support office in New York.