Source: Orc Software
Orc Software, a leading provider of automated trading technology, reports today that one of the leading trading firms in the US will be implementing Orc Liquidator.
The US trading firm is already an Orc Software customer and has now decided to complement their systems with Orc Software's most advanced product, Orc Liquidator. The customer primarily aims to use Orc Liquidator for derivatives trading in the US and will utilize a significant number of Orc Software's US market connections.
"It is very satisfying that the extensive interest in automated algorithmic trading is continuing to increase and that we have now sold an additional Orc Liquidator on the US market. The fact that one of the most prominent participants in the US has chosen Orc Software as a supplier proves that Orc Liquidator is a very attractive product capable of replacing proprietary systems," says Jonas Lindström, CEO, Orc Software.
Orc Liquidator is a flexible, high-performance, server-based trading platform that allows users to automatically trade and make markets on over 100 electronic market places supported by the Orc System. Orc Liquidator provides the ability to quickly design new trading strategies in order to capture short-lived market opportunities – across products and across markets. Users are able to create their own trading strategies and therefore have full capability to adapt the strategies according to changes in the market. The recently launched new version of Orc Liquidator offers an even faster, easier to use and more adaptable product.
The agreement will have financial impact as of the end of the second quarter. Due to changes made in the Orc Liquidator business model at the beginning of 2005 the effect is spread out over a longer period of time and is thereby more evenly distributed.