Orc Group (SSE: ORC), the leading provider of technology and services for the global financial industry, today announced that Milan-based investment bank Banca Aletti has selected Orc Liquidator, Orc's server-based automated trading platform, for their Italian Derivatives Market (IDEM) market making business.
The order was booked in Q2 2011, and the contract is based on Orc's licensing subscription model.
Banca Aletti is the Private and Investment Bank of the Banco Popolare Group, one of the five largest Italian Bank Groups, and a longtime and experienced Orc customer. Since 2004 Banca Aletti has progressively expanded the usage of the Orc solution moving from market making on the Securitized Derivatives Exchange on to all Italian and some major European markets, both via membership and non-membership market access.
"Banca Aletti needed a solution that easily allows implementation of our proprietary quoting strategies together with real time management of standard trading parameters like position, risk and volatility," comments Alessandro Garufi, Head of Equity Structured Products at Banca Aletti. "Orc Liquidator has met our organization's growing requirements for a fully automated solution that is flexible and scalable, reliable and performing at the same time."
"After trying Orc Liquidator first hand, Banca Aletti realized the product's innate potential and how it can contribute to further expanding the bank's market share," notes Daniele Moressa, Sales Manager at OrcItaly. "We are confident that with Orc Liquidator, Banca Aletti has chosen a solution that will allow them to stay competitive and to further grow their business to more products and markets.