Orc Group, a leading provider of technology and services for the global financial industry, announced today that Orc Market Maker clients are enjoying continued success on CME Group markets.
Orc Market Maker, released in 2011, has become a driver for success for CME Group-authorized options market makers. Orc Market Maker provides an ultra-low latency, server-based trading engine that clients operate from the CME Co-Location Facility. Combined with Orc Market Maker’s high-performance market making logic, clients have been able to be among the fastest in the market in quoting options on the CME. This advanced trading logic also gives Orc’s clients robust hedging logic to maximize profit.
Additionally, over the past few months, Orc has dramatically improved the performance of its CME Group market gateway, specifically optimized for mass quoting with Orc Market Maker. With a tuned CME Group gateway and fast and accurate market making logic, Orc’s solution for market making has reduced end-to-end latency by over 90% for our clients trading CME Group markets.
Mark Harmon, Trader at Sallerson-Troob, comments, “Orc Market Maker has been successful for me when trading equity indices on CME. These instruments are highly liquid, and Orc Market Maker and their CME Group gateway offer outstanding performance. In addition to speed, Orc Market Maker offers excellent functionality to allow me to price and respond to options spreads – all the things I need to win trades on this market.”
Marty Leamy, president, Orc Americas, notes, “With our Orc Market Maker product, traders have achieved incredibly successful results. Orc Market Maker is a world-class solution that’s helping traders perform in the world’s leading and most diverse derivatives marketplace.”
Jesper Alfredsson, vp of Product Management, Orc, comments, “Orc has been involved in market making technology for over 20 years. In that time, we’ve continuously developed our technology to be the fastest and smartest available. The success that our clients have seen for CME Group markets has been impressive, and we’re committed to continued development to ensure that these customers stay on top.”
Orc Market Maker addresses the present and future challenges of market makers, including the need for low-latency quoting and to efficiently reach multiple markets using a single interface. It adds key features for sophisticated volatility and pricing management, including a rich volatility management interface and a Volatility Model API which facilitates development of proprietary models. Orc also provides pre-defined and configurable volatility models, as well as built-in pricing models for accurate quoting and hedging.