Orc Software (SSE: ORC), the leading global provider of technology for advanced trading and connectivity, today announced that Banca Akros, a private Italian investment firm and established Orc Software customer, has signed a two year agreement to add support for Direct Market Access services (DMA) using Orc Trading by consolidating their trading operations in Milan with Orc Software.
The order was booked in Q3 2009 and the contract is based on Orc's licensing subscription model.
"This agreement was a natural step forward for our organization. We have always appreciated Orc's ability to support the growing trading needs of our bank," said Ferrante Zilioli, Head of Organization & IT at Banca Akros. "Thanks to the scalability of the Orc solution, we are able to increase our DMA services and make our offering more competitive and attractive for professional clients who want to trade on regulated and OTC markets while monitoring the position risks in real time through the Orc workstations."
"Banca Akros is a leading investment firm and one of our most established customers in Italy," declared Daniele Moressa, Sales Manager Italy, Orc Software. "The decision to grow their relationship with Orc demonstrates the high level of performance and reliability of our solutions. DMA services are a business area that can open new market opportunities, and we are pleased that Banca Akros has decided to further invest in Orc to perform as a leader in that segment."
Orc Trading provides the competitive edge to trade from a single platform capable of running thousands of complex trading strategies simultaneously. Orc Trading is used by financial firms worldwide for enhanced trading, pricing and risk management on electronically traded derivatives.
Orc Connect is the global financial industry's leading connectivity solution. Orc Connect provides traders and brokers with fast, reliable access to liquidity pools, both for market members and non-members, in the critical areas of execution, market data and reference data.