SAO PAULO--(BUSINESS WIRE)--Regulatory News:
Orc Group (STO:ORC), a leading provider of technology and services for the global financial industry, announced today that Brazilian broker Terra Futuros will use Orc Spreader for futures arbitrage on the BM&FBOVESPA exchange as well as inter-market arbitrages between the BM&FBOVESPA and other global exchanges. The order was booked in Q3, 2011, and the contract is based on Orc’s licensing subscription model.
Terra Futuros will use Orc Spreader, a server-based trading solution designed for spread trading and other arbitrages. Terra Futuros will initially use Orc Spreader for commodities arbitrage opportunities on the BM&FBOVESPA as well as for arbitrages between the BM&FBOVESPA and several exchanges in the US and Europe.
Ruben Guerrero, Brazil Sales Director at Orc, notes, “We are seeing continued interest from Brazilian traders for advanced, low-latency solutions to trade both the BM&FBOVESPA and other exchanges globally. Terra Futuros has developed a reputation for aggressively addressing the market, and with Orc they will be able to trade faster and grow their business quickly as they access new markets and trade more products.”
Francis Palmgren, Managing Director at Terra Futuros, comments, “We required a trading solution that was fast, scalable, and most importantly, easy to set up. Orc met all of our requirements. The Brazilian markets have a great potential. Trading these markets requires a solution like Orc’s. After using Orc for some time, we have noticed a significant improvement in the speed of our arbitrage and spread strategies.”
Orc Spreader is built on the multi-threaded, server-based algorithmic trading engine Orc Liquidator. It includes trading logic designed for spread traders and pairs traders. The server-based architecture of Orc Spreader, including an extremely high-performance trading engine, can be co-located at exchanges resulting in the lowest possible latency. Orc’s extensive low-latency connectivity to over 100 markets around the world is also available to users.
About Orc Group revenue model
Standard agreements follow Orc’s licensing subscription model, a flexible approach designed to streamline the customer on boarding process and provide ease of access to software updates, together with a mature support framework. Customers are invoiced quarterly, in advance, and revenue allocated to the invoicing period.
About Orc
Orc is a leading provider of technology and services for the global financial industry. Orc delivers trading and market access solutions used by proprietary trading and market making firms, investment banks, hedge funds and brokerage houses worldwide.
Available as deployed software or as managed services, Orc develops and provides the tools needed for running profitable trading or brokerage businesses in today’s competitive and ever-changing markets.
With market presence in all major global financial centers, Orc provides sales and support services from its offices across EMEA, theAmericasand the Asia-Pacific regions.
Orc Group is publicly traded on NASDAQ OMX Stockholm (SSE: ORC).
About Terra Futuros
Terra Futuros is a full commission house and member of the BM&FBovespa (Brazil) that relies on a qualified professional team with international experience focused on execution services in the Commodities and Financial Derivatives Markets
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