Orc Software (SSE: ORC), the leading global provider of technology for advanced derivatives trading and connectivity solutions, today announced leading Italian investment firm and established Orc Software customer, Banca Akros, has selected Orc for providing a Direct Market Access (DMA) solution for electronic trading on IDEX, the new segment of the Italian Stock Exchange’s derivatives market (IDEM) for the trading of electric energy futures contracts. Revenues will be booked as soon as Banca Akros go live with their first customer.
“Orc technology will enable Banca Akros to meet increasing demand for trading on the new energy derivatives market,” says Laura Bisconcin, head of IDEX Brokerage at Banca Akros. “Small and middle-size firms willing to trade or hedge in the energy market will be able to access IDEX through Banca Akros. In fact, the solutions provided by Orc will allow us to offer trading and clearing services to all our customers, including those whose small volumes will not justify the fixed costs for market membership.”
“The energy derivatives market represents an important liquidity pool for financial investors and a real revolution for the whole Italian economic and industrial system,” comments Matteo Carcano, president of Orc Software Western Europe. “We are honored to cooperate with Banca Akros at the time of the new IDEX market launch in Italy and to face this market challenge together.”
Orc Connect is the global financial industry’s leading connectivity solution. Orc Connect provides traders and brokers with fast, reliable access to liquidity pools, both for market members and non-members, in the critical areas of execution, market data and reference data.
Orc’s customers include leading worldwide banks, trading and market-making firms, exchanges, brokerage houses, institutional investors and hedge funds.
