Erik Penser Bankaktiebolag selects Orc technology for algo trading

Source: Orc Software

Orc Software (SSE: ORC), the leading global provider of technology for advanced derivatives trading and connectivity solutions, today announced that leading Swedish securities firm Erik Penser Bankaktiebolag, has selected an Orc Trading solution based on Orc Liquidator to support the firm's growing algorithmic trading operations.

Erik Penser Bankaktiebolag already relies on Orc for its DMA offering, as well as for proprietary trading. The order was booked in Q2, 2008.

A member of the Stockholm, Copenhagen and Helsinki exchanges, Erik Penser Bankaktiebolag is an independent and privately owned securities firm that is rapidly expanding its range of services. Erik Penser Bankaktiebolag conducted extensive testing of Orc Liquidator before its production go-live implementation. The new Orc Trading solution enables Erik Penser Bankaktiebolag to conduct cash and derivatives trading with access to the OMX Nordic markets, and to global markets through Neonet.

"Our traders are very satisfied with the tools and the overall working environment provided by Orc, as well as Orc's unrivalled connectivity offering for accessing global markets," said Johan Wattenström, Head of trading, Erik Penser Bankaktiebolag. "Going forward with Orc Liquidator, we can implement state-of-the-art algorithmic trading while developing custom trading strategies to give our clients an edge in time-critical trading on volatile markets."

"We are very pleased that Erik Penser Bankaktiebolag in strong competition again has selected Orc to support their growing needs for electronic trading solutions," said Peter O Bäck, Sales Director, Nordic Region, Orc Software. "Erik Penser Bankaktiebolag also shows that smaller and mid-sized firms are just as determined as the major financial players to make use of advanced algorithmic trading strategies that can only be realized using sophisticated technology and low latency market connections."

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