Orc Software (SSE: ORC), the leading global provider of technology for advanced derivatives trading and connectivity solutions, today announced that EFG Financial Products has selected Orc to supply key technology for its structured products operations. EFG Financial Products is a newly established subsidiary of EFG International, one of Switzerland’s largest private banking organizations. The order was booked in Q4 2007.
After careful study and evaluation, EFG Financial Products chose a solution that includes Orc Trader at the front end, complemented by Orc Trader for Risk Management and Orc ExNet access to route to brokers or markets where no membership is held, in combination with a third party system which is connected via a real-time interface.
"We were looking for a system that allows us to create and price structured products, with a large number of connected markets," said Michael Hartweg, partner with EFG Financial Products. "Orc has shown that they can deliver these features, while meeting our requirements for managing high volumes of trading data for a wide range of financial products."
EFG Financial Products has successfully launched its quoting and trading system, which allows the firm to successfully operate in a very competitive market, and to offer quoting and trading of highly sophisticated products to their customer base, in a very scalable and reliable way.
Orc’s elaborate Risk Management functionality is an important part of the overall solution, as it allows the growth of the operation and increase in number of products, customers, and volumes at the same level of control. The solution also includes a two-way interface, developed by Orc, to a third party application used by EFG Financial Products.
"We are proud to contribute to EFG Financial Products and their innovative approach to electronic trading," said Anders Henriksson, president Benelux, Central and Eastern Europe for Orc Software. "This implementation demonstrates Orc’s strengths in advanced derivatives trading and connectivity, as well as the openness of our solution and their ability to interface with other key applications used by our customers."
Orc Trading, provides the competitive edge to trade from a single platform capable of running thousands of complex trading strategies simultaneously. Orc Trading is used by financial firms worldwide for enhanced, trading, pricing and risk management on electronically traded derivatives.