Reuters deals with Orc for Xtra exchange trading

Reuters deals with Orc for Xtra exchange trading

Reuters is to use technology from Swedish company Orc Software to provide direct trading access to multiple European stock exchanges through Reuters 3000 Xtra terminals.

The agreement with Orc positions Reuters to provide a complete order management capability alongside price discovery, news and analytics on 3000 Xtra screens.

Initially, the offering will focus on the London Stock Exchange, Deutsche Borse and Euronext which together account for 70 per cent of the European market capitalisation. The capability will be rolled-out in Europe over the next six months and will continue to be developed in other Western European, Asian and North American markets, says Reuters. This is in complement to the existing capability that gives customers access to North American exchanges through the products Reuters acquired from Bridge.

Devin Wenig, president, investment banking and brokerage, Reuters comments: "The trading community is looking for more efficient ways to integrate price discovery, interaction and trading. By working with Orc Software, Reuters moves one step closer to its Smart Trading vision and we can now provide our customers with additional capabilities for pricing, trading and risk management."

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