Caerus Trading expands market making with Orc
Orc Software (SSE: ORC), the leading global provider of technology for advanced trading and connectivity, today announced that Caerus Trading BV, an Amsterdam-based market making firm, has selected an Orc Trading solution to support its market making operations, which is primarily focused on listed equity and index options trading. The order was booked in Q4, 2009, and the contract is based on Orc's licensing subscription model.
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"Our competitiveness rests on a solid market making strategy where algorithmic trading plays an increasingly important role," says Bas Walraven, Partner, Caerus Trading. "As we are building a fully customized strategy, flexibility is the key requirement on our trading software tools. When looking at the market making solutions available from software vendors, Orc proved to have the most flexible algorithmic trading engine, which also makes us very competitive in terms of latency when trading on opportunities or hedging options trades."
As a young and dynamic company, Caerus Trading aims to become a leading trading firm on several exchanges with initial focus on NYSE Liffe Amsterdam and Paris. The firm plans for a significant expansion in terms of markets traded in the future.
"We are very pleased to have Caerus as a customer, with their rich experience from the Amsterdam derivatives market," says Christopher Lederer, VP Sales Continental Europe, Orc Software. "Caerus' choice, which followed upon extensive evaluation, testifies to the strength of Orc's market making offering."
By including trading risk management functionality offered by Orc, Caerus makes full use of Orc Trading as a comprehensive market making solution. The firm does significant research in volatility modeling for index options market making, which makes the ability to add their own volatility model to the Orc Trading solution a significant feature, allowing Caerus to fully exploit their research findings.