Orc gets delisting approval; signs Renell Wertpapierhandelsbank

Source: Orc Group

Orc Group AB (publ) has, as previously announced, applied for delisting of its shares from Nasdaq OMX Stockholm.

Orc Group has now been informed that the NASDAQ OMX Stockholm has approved the company's application for delisting and decided that the last day of trading in Orc shares on NASDAQ OMX Stockholm will be on Friday 9 March 2012. 

Separately, Orc Group (SSE: ORC), the leading provider of technology and services for the global financial industry, today announced that Renell Wertpapierhandelsbank AG, an independent brokerage and corporate finance firm based in Frankfurt am Main, has selected an Orc Trading solution to support the expansion of its trading operations. Orc will provide tools and connectivity for enabling Renell to establish bonds trading on Euronext. The order was booked in Q3, 2011, and the contract is based on Orc's licensing subscription model.

"Looking to widen the reach of our activities into new geographical areas, we were impressed by the support Orc provided and the competence demonstrated during a business-sensitive phase," said Mr. Marc Renell, Managing Director, Renell Wertpapierhandelsbank. "Orc offers a distinct advantage through a flexible solution that is unmatched in its global reach combined with options for local adaptation."

Orc Trading provides the competitive edge to run multiple complex trading strategies simultaneously on a single platform. Orc Trading is used by financial firms worldwide for enhanced trading, pricing and risk management on electronically traded derivatives.

"We are excited about the partnership with Renell in jointly developing new business areas with mutual benefits," said Hassan Riquier, Sales Manager, Orc Germany. "This is a significant new customer win for Orc, as Renell's choice rests on our comprehensive trading functionality as well as on our broad connectivity offering. This ensures responsiveness to market requirements, including both mature established markets and new growing segments." 

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