Orc Software (SSE: ORC), the leading global provider of technology for advanced trading and connectivity, today announced that Öhman Fondkommission, an investment bank based in Stockholm, Sweden, has selected Orc's algorithmic trading solution to support the firm's planned expansion into new areas of trading.
The order was booked in Q1, 2010, and the contract is based on Orc's licensing subscription model.
A long time Orc Trading user, Öhman Fondkommission will add seats and has selected Orc Trading for Algorithmic Trading to support its newly formed team for warrants trading, Exchange Traded Funds quoting (ETFs), and arbitrage trading.
"Orc Trading has been our key trading solution for several years, and we were pleased to conclude that Orc still provides the solution of choice when it comes to supporting the expansion of Öhman's trading operations," said Pontus Barrné, Chief Financial Officer, Öhman. "Our traders are very comfortable with using Orc Trading, and we now look forward to working with Orc to build a first-class algorithmic trading solution."
"We are proud to provide Öhman with a solution that provides a very flexible, yet robust solution that is well proven, and we look forward to providing tools to develop their trading business further," said Peter O Bäck, Vice President Sales Nordic, Orc Software. "Öhman's choice also reflects that Orc Trading is a highly scalable solution capable of handling growing volumes and increasing numbers of instruments."