Orc Software (STO:ORC), the leading global provider of technology for advanced derivatives trading and connectivity solutions, today announced that the New Zealand-based regional proprietary trading firm Delta Neutral International is using Orc's Algorithmic Trading solution to enhance its advanced trading capabilities.
Delta Neutral International is a proprietary trading firm with key business focus on derivatives market making and statistical arbitrage trading in major Asian markets.
"Orc Software is pleased to be working with Delta Neutral International to provide advanced algorithmic capabilities to accelerate its business," says Dennis Chen, Sales Director, Orc Software, Asia Pacific. "Buy-side firms are increasingly realizing the powerful features and functionalities of Orc's Algorithmic Trading solutions. When coupled with our extensive market connectivity and co-hosted by brokers around the region, the full solution offers the great performance and time-to-market that is critical to the needs of arbitrage traders."
"To capture the significant market potential in Korea, we need to enhance our business capabilities with a powerful derivatives trading system. Utilizing Orc's Algorithmic Trading solution, we can now build and quickly deploy our latency-sensitive, complex trading strategies in the market, and as a result add value for our investors," says William Yi Zhu, Chief Executive Officer, Delta Neutral International.
Orc Algorithmic Trading, the multi-threaded, server-based algorithmic trading solution capable of running thousands of complex trading strategies simultaneously, is available on the Orc Trading platform. Orc Trading is used by financial firms worldwide for enhanced trading, pricing and risk management on electronically traded derivatives.
Orc Algorithmic Trading technology tools include Orc Liquidator and Orc Liquidity Access.
The deal was booked in Q4 2008.
About Orc Software's revenue model
This agreement follows Orc's licensing subscription model to give customers access to software, new versions and support as long as the agreement is valid. Customers are invoiced quarterly in advance and revenue allocated to the invoicing period.