Orc Software (SSE: ORC), the leading global provider of technology for advanced derivatives trading and connectivity, today announced that BOC International Holding Limited (BOCI) has selected Orc Software's Algorithmic Trading solution for expanding its trading capabilities. The deal was booked Q2 2008.
BOCI is a wholly owned subsidiary of Bank of China Limited and has been an Orc customer since 2004. The additional function on Orc Algorithmic tool will enable BOCI to increase its market activities in warrants market-making and index options trading. Deploying Orc Algorithmic Trading will also enable BOCI to achieve its business objectives for increasing both warrant issues and the number of instruments, without incurring additional trader costs.
Founded in 1998 in Hong Kong, BOCI has a registered capital of US$1 billion and has subsidiaries in New York, London, Hong Kong and Singapore, and a sales network covering most major Chinese cities such as Beijing, Shanghai, Guangzhou and Chongqing. With a team of experienced financial professionals, a broad institutional and retail sales network and a global management operation, BOCI is well-positioned to offer its clients a wide range of investment banking services, including securities underwriting, mergers & acquisitions, financial advisory, equity securities, equity derivatives, fixed income, asset management, private wealth management, private equity investments and leveraged & structured finance.
"BOCI is committed to seek out the best trading technologies to support our rapidly expanding business," says Alex Liu, Executive Director, Head of Application Development and Support at BOCI. "We are very pleased to be increasing our use of Orc's market leading solutions and benefiting from Orc Liquidator; a product with an excellent reputation for meeting advanced trading needs."
"Orc Software recognizes that BOCI is looking for trading technology helping it to drive the business. We are pleased to be working more closely with BOCI by applying our market knowledge, expertise and solutions," says Dennis Chen, Sales Director, Asia Pacific, Orc Software.
Orc Algorithmic Trading is a multi-threaded, server-based algorithmic trading solution capable of running thousands of complex trading strategies simultaneously and offered with ultra low latency, native connectivity to 100+ markets.