Orc Group (SSE: ORC), the leading provider of technology and services for the global financial industry, today announced a renewed multi-year agreement with Arqaam Capital, the Dubai-based emerging markets investment bank.
According to the agreement, Arqaam will extend its use of Orc Trader to support their cash equity trading on the three stock exchanges in the UAE, Abu Dhabi Securities Exchange (ADX), Dubai Financial Market (DFM) and NASDAQ Dubai (DIFX). The order was booked in Q3, 2011. This extended partnership also includes significant contributions to Arqaam Capital by E2E Infotech, a subsidiary of aurionPro Solutions Ltd, and an Orc business partner.
"Renewing and extending our partnership with Arqaam Capital is a strategically significant event for Orc," said Lee Griggs, President EMEA, Orc. "Arqaam is an industry-leading user of our products, and their continued trust in our evolving technology and services testifies to Orc's commitment to advanced trading firms in Middle East."
As part of the agreement, E2E Infotech will also continue to work closely with Orc to develop and refine tailored solutions for Arqaam Capital and will provide support to Arqaam Capital locally.
"We are constantly looking for ways to expand and enhance the services we provide our clients, and Orc has evolved its technology to consistently meet our needs," said Dennis Wijsmuller, Chief Operating Officer of Arqaam Capital. "We look forward to continuing our successful partnership with Orc and aurionPro as we work together to provide efficient solutions in cash equities trading and for derivatives market making."
"It is gratifying to have our longtime successful partnership with Orc and Arqaam Capital extended in time and scope," said Deepak Vaishnav, Sales & Engineering, Capital Markets Group, aurionPro Solutions.
E2E and aurionPro offer professional services around Orc's trading solutions, and has developed a portfolio of standardized components for integration with Orc. In addition, E2E and aurionPro offer solutions in outsourcing and professional IT services.