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Orc Software signs Sofia Bank

23 June 2009  |  845 views  |  0 Source: Orc Software

Orc Software (SSE: ORC), the leading global provider of technology for advanced trading and connectivity, today announced that Sofia Bank, an independent bank providing retail banking, asset management, brokerage and corporate finance services based in Helsinki, Finland, has chosen Orc as its key trading technology supplier.

The deployment of Orc's trading solutions is part of a major effort by Sofia Bank to offer DMA services to their sophisticated clients. The solution, entirely based on Orc's technology, will allow their clients to electronically trade cash and derivatives on the Nordic Exchanges and Eurex. The order was booked in Q4, 2008.

"We were looking to use state of the art trading technology that provides competitive advantage in order to support our business vision," said Eero Saloranta, Head of Markets and member of Executive Management, Sofia Bank. "Following a careful evaluation of available solutions, we decided to go with Orc as our premier technology supplier for trading and market access. Their solution combines superior performance with proven reliability and ease of use, and many of our staff has positive experiences from using Orc."

Sofia Bank is a brand new Finnish bank that was established in 2008 and became operational in early 2009. It is a trading member of NASDAQ OMX Helsinki and Stockholm, First North and the NASDAQ OMX and Eurex derivatives exchanges. Sofia Bank is privately owned by a Finnish banker, Seppo Sairanen.

Sofia Bank offers retail banking, asset management, brokerage and corporate finance services to institutions and private individuals.

"Sofia Bank is an ambitious challenger that will provide their clients with optimal trading capabilities, and we are delighted that Orc was selected to support their technology requirements, as well as their business goals" said Peter O Bäck, VP Sales Nordic, Eastern Europe, Russia & Austria, Orc Software. "This is a significant order for Orc, as it indicates a solid demand and growth for our solutions in the Nordic region. Sofia Bank's choice also underscores that the Orc platform is a vital resource for staying ahead in fiercely competitive market segments."

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