Orc Software and E*Trade deliver access to North American and Asia markets
Orc Software, leading provider of technology for advanced market making, trading and brokerage, today announces that E*TRADE Securities Limited, the institutional division of E*TRADE FINANCIAL, is the latest high profiled partner to be added to the Orc ExNet network.
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The agreement provides Orc Software's clients direct market access to the leading cash equity markets in North America and Asia through E*TRADE FINANCIAL's institutional brokerage infrastructure.
Orc Software's clients will from today have the ability to trade equities electronically without need of their own membership through E*TRADE FINANCIAL on the New York Stock Exchange, Nasdaq, American Stock Exchange, Toronto Stock Exchange, Tokyo Stock Exchange, Osaka Stock Exchange and Stock Exchange of Hong Kong. E*TRADE FINANCIAL will provide straight through processing and settlement services for Orc Software clients.
"The co-operation with E*TRADE FINANCIAL is an important component of our continuous expansion of Orc ExNet. Partnering with a highly recognized brand like E*TRADE FINANCIAL which is known for its excellent customer service will definitely enhance our offering," said Nils Nilsson, CEO of Orc Software.
"We are pleased to announce this partnership which will enable Orc Software clients to directly access the North American markets as well as the leading Asian markets through E*TRADE FINANCIAL's institutional brokerage infrastructure. This agreement is part of E*TRADE FINANCIAL's strategy to be an industry leader in direct market access and offer institutional clients the ability to trade through a single point of access globally," said Susan Holgate, Vice President, Institutional, E*TRADE FINANCIAL Corp.
In total, Orc ExNet can offer access to more than 30 markets without the need of exchange membership. The Orc System enables access to a total of over 70 markets and the ability to simultaneously trade different instruments as if the markets were a single, virtual market. Orc Software's clients include investment banks, trading and market making firms, brokerage houses, institutional investors, hedge funds and electronic exchanges.