Van der Moolen deploys Orc algo trading technology

Van der Moolen deploys Orc algo trading technology

Dutch market maker Van der Moolen (VDM) has implemented algorithmic trading technology from Sweden's Orc Software across its London operations.

VDM signed for Orc Algorithmic Trading - a multi-threaded, server-based platform that can run thousands of complex strategies simultaneously - in the third quarter of 2007.

The package includes the vendor's Liquidator, Liquidity Access and Hosting tools, offering trading and pricing and risk management.

Orc says the platform includes trading strategies written in Java which utilise exchange-traded asset and operate on multiple markets simultaneously. Customers can use built-in pricing and volatility models or integrate proprietary ones.

VDM was one of the big trading specialists on the floor of the New York Stock Exchange but was forced to cut back its floor staff after the US exchange moved to a combined floor-based and electronic market model.

VDM eventually said last December that it would transfer its US specialist activities to Lehman Brothers for "zero consideration". Although VDM still operates in Chicago, the bulk of the Dutch firm's business is now in Europe.

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