Source: Orc Software
Orc Software (SSE: ORC), the provider of technology for advanced trading, market making and brokerage, today announced that it now provides direct trading access to FXall and Hotspot FXi, two of the leading alternative trading systems for foreign exchange (FX). This arrangement marks a significant expansion of Orc Software into the global FX market, providing clients with the ability to hedge currency transactions and implement complex algorithmic trading strategies across asset classes on multiple global markets.
Orc Software’s native direct market access platform, the Orc System, links to FXall and Hotspot FXi via the Financial Information eXchange (FIX) protocol, providing clients with both instantaneous order entry capabilities and real-time market data. With access to the major venues for FX securities, Orc Software now offers execution for spot FX, options, futures, forwards and swaps, all on one application. Orc Software’s recently acquired FIX solutions specialist Cameron Systems provides the FIX connectivity services using the CameronFIX Platform for FXall’s QuickFill and QuickTrade products.
Peter Sibirzeff, Managing Director of Orc Software U.S. says:”We’re very happy to offer our clients access to these new sources of liquidity for FX trading. Through a single montage, our clients can price and execute listed and over-the-counter spot FX, and futures and options contracts, traded on multiple markets throughout the U.S.”
Neill Penney, Global Head of Product Strategy, FXall said: "Active traders are looking for seamless integration between their in-house systems to execution venues, to ensure fast execution with minimal latency. We are delighted to be working with Orc to meet this demand. Through the new FIX connection to QuickFill, Orc’s clients will benefit from instant access to continuous streaming prices from the market’s deepest sources of liquidity."
With connections to over 100 markets around the world, including all major exchanges, ECNs and other liquidity pools, Orc Software is a leading provider of execution services for the global derivatives markets. Customers can connect to the Orc System from Orc’s front-end trading applications, such as Orc Trader, which offers advanced functionality for trading listed cash and derivatives securities, as well as the ability to price OTC instruments.
Lars Johansson, acting CEO of Orc Software, adds: "This is a strategic move for us as we continue to expand our offering, whether in terms of additional venues, geographies or asset classes. We have one of the most extensive connectivity offerings available today and with the addition of FXall and Hotspot FXi we have made significant strides into the expanding global FX market."