Orc Software, a technology provider for advanced trading, market making and brokerage, today announced Italian investment bank Banca IMI, a subsidiary of the Italian banking group Intesa Sanpaolo, has selected an expanded Orc technology solution to help it enhance the efficiency of its equities trading services. Banca Caboto, an investment bank owned by banking group Intesa Sanpaolo, also uses advanced trading technology from Orc Software.
Banca IMI has used the Orc system across its equities business to reduce the number of disparate IT systems it uses, whilst lowering infrastructure costs. Banca IMI uses Orc Liquidator, Orc Trader and eight Orc market connections for the Italian derivatives market (IDEM), Italian stock exchange (MTA, SeDex), EUREX, XETRA, EURONEXT, SFC and TLX.
With Orc Liquidator, Banca IMI is able to adapt strategies in response to changing market conditions, while Orc Trader meets market requirements for handling large trading volumes on multiple markets and risk management, the firm says.
“Orc Software continues to provide advanced trading performance to the world’s leading financial institutions,” says Matteo Carcano, president, Western Europe, Orc Software. “Its agreement with Banca IMI is a further indication that the European banking community relies on the stable Orc technology. We look forward to continuing the strong partnership we have established with Banca IMI over a number of years,” he concludes.