Newedge and trading technology provider Orc Software plan to offer a direct communications link between Chicago and the multi-asset brokerage's Hong Kong-based trading data centre, allowing US traders to trade Asian markets without establishing their own lines and connections.
Proprietary trading firms using the service will be able to deploy trading strategies including spread trading, market making, volatility trading and other advanced arbitrages in Asian markets via Newedge's memberships and Orc's trading platform. Orc also offers a server-based technology, Liquidator, which helps firms to build and deploy their own trading strategies.
“Asian markets have become important to Americas-based traders to increase their trading margins and take advantage of the new opportunities afforded in these growing markets,” said Marty Leamy, president, Americas at Orc Software. “Orc's low-latency trading engine combined with Newedge's fast market access will give traders a powerful and easily deployed solution to capture these new opportunities.”
Orc Hosted, a service already used by European clients to outsource management of their trading infrastructure, will be available in the Americas later this year.
“Orc provides an incredibly strong trading platform that traders find flexible and fast. Combining Orc with Newedge's low-latency market access and robust Hong Kong data centre will give traders an unparalleled solution for trading the Asian markets,” said Mike Gilbert, global head of professional trading group at Newedge.
Orc connected to Brazilian exchange BM&F Bovespa, to provide low-latency market data to its clients in December 2010.