Stockholm-based dealing system vendor Orc Software is to open a sales and support office in Seoul, South Korea.
Operations are planned to start in the second half of 2002. Orc Software also has offices in Stockholm, Copenhagen, Frankfurt, Hong Kong, London, Milan, Montreal, Moscow, New York, St. Petersburg, Sydney, Tokyo, Toronto, Vienna and Zurich.
Nils Nilsson, CEO of Orc Software, says: "South Korea is one of the world's most interesting growth markets with large trading volumes and a great demand for trading technology. Our establishment in the South Korean market will enable us to effectively participate long-term in the development of this market."
The company recently won a contract with Samsung Securities to provide clients with direct electronic trading access to derivatives traded on the Korea Stock Exchange.