Nordic Internet broker TeleTrade/Nordnet and Orc Software have entered a co-operation agreement to sell their joint technology to banks and brokerage firms that want to offer their retail customers electronic trading via the Web.
Under terms of the deal, the two companies will integrate their existing products, TeleTrade's real-time application, WinTrade, and the Orc System's core technology with connections to more than 30 different electronic exchanges around the world.
Commenting on the agreement, Klas Danielsson, CEO of TeleTrade, says: "This is a competitive technological collaboration that combines TeleTrade's market knowledge of Internet trading for private investors with Orc Software's wide international market penetration in trading technology. This co-operation allows our know-how and our trading application, WinTrade, to reach a wider audience, and thereby creates a potential for increased revenues."