Orc Group (SSE: ORC), a leading provider of technology and services for the global financial industry, announced today that Brazilian broker Terra Futuros will use Orc Spreader for futures arbitrage on the BM&FBOVESPA exchange as well as inter-market arbitrages between the BM&FBOVESPA and other global exchanges.
The order was booked in Q3, 2011, and the contract is based on Orc's licensing subscription model.
Terra Futuros will use Orc Spreader, a server-based trading solution designed for spread trading and other arbitrages. Terra Futuros will initially use Orc Spreader for commodities arbitrage opportunities on the BM&FBOVESPA as well as for arbitrages between the BM&FBOVESPA and several exchanges in the US and Europe.
Ruben Guerrero, Brazil Sales Director at Orc, notes, "We are seeing continued interest from Brazilian traders for advanced, low-latency solutions to trade both the BM&FBOVESPA and other exchanges globally. Terra Futuros has developed a reputation for aggressively addressing the market, and with Orc they will be able to trade faster and grow their business quickly as they access new markets and trade more products."
Francis Palmgren, Managing Director at Terra Futuros, comments, "We required a trading solution that was fast, scalable, and most importantly, easy to set up. Orc met all of our requirements. The Brazilian markets have a great potential. Trading these markets requires a solution like Orc's. After using Orc for some time, we have noticed a significant improvement in the speed of our arbitrage and spread strategies."