Orc Software (SSE: ORC), a leading provider of technology and services for the global financial industry, today announced that Nyenburgh has deployed Orc Spreader for low-latency spread trading across Asian markets.
The order was booked in Q4, 2010, and the contract is based on Orc's licensing subscription model.
Orc Spreader is a server-based, arbitrage-style trading product for trading on multiple markets and across multiple asset classes. It is used by futures spreaders, pairs traders, and other high frequency arbitrageurs that demand fast, smart and flexible trading logic that can be deployed quickly without substantial IT investment.The Product is part of Orc's Trading suite of solutions and was launched during the third quarter of this year.
Nyenburgh is a proprietary trading firm with offices in Amsterdam, Singapore and Tallinn, trading on exchanges in Asia, Europe and the USA. The Singapore office has added Orc Spreader to further support their traders in developing and executing arbitrage-style strategies on APAC markets.
"The Orc Spreader combines the speed, configurability and ease of implementation that we were looking for. By leveraging Orc's industry proven trading engine and market connectivity we are also getting confidence from the stability provided alongside the low internal processing latency," says Alan Donoghue, Managing Director, Nyenburgh.
"With the Orc Spreader's recent launch, we were really pleased to have had such an early opportunity to work with Nyenburgh in order to prove the product in the APAC market," says Grant Wilson, Regional Sales Manager, Asia Pacific, Orc Software. "Nyenburgh's choice, made after an extensive evaluation is a great testimony to the speed, performance and scalability of Orc Spreader."
The Orc Trading solutions are used by leading financial firms worldwide for market making, volatility trading and high-frequency trading. Together with access to all major cash and derivatives markets and a network of brokers, this is truly an unmatched offering. Orc Trading is available both as deployed software and as a managed service.