Stockholm-based trading technology vendor Orc Software has released new versions of its Orc Trader and Orc Liquidator applications. Orc says releases 6.1 include new volatility API and models, new market connections, transaction analytics and reporting, and click trading enhancements, as well as further improvements designed to facilitate Direct Market Access (DMA).
Orc says the new functionality is available across all asset classes and products (equities, FX, fixed income, commodities, cash, futures, options) and that the DMA functionality provides access to more than 100 markets where Orc has established a connection.
“Orc Trader and Liquidator provide the best fit solutions for automated trading, advanced click trading and market making across multiple markets,” says Orc Software’s CEO, Thomas Bill. “These areas represent the fastest growing styles of trading and have resulted in Orc winning a record number of new customers during 2006. Today’s development release shows our commitment to continually improve Orc Trader and Liquidator to our customers’ advantage.”
Orc says Version 6.1 responds in particular to increased demand from clients for advanced volatility management capabilities applied for quoting and risk. The Orc platform now provides an open API for the flexible integration of volatility models. Customers can choose to implement their own proprietary volatility models or use the models provided by the Orc system. The new version also includes a number of new models Orc has added four new direct market connections to ICE (commodities), EBS (foreign exchange), BrokerTec (fixed income) and Russian Trading Systems (equities) as part of its drive to become a provider of truly multi-asset class systems. During 2006 Orc has developed a total of nine new market connections. Significant improvements to optimize throughput and performance have also been made to existing connections for CME, CBOE and Eurex.
Version 6.1 enhancements for Orc Trader and Orc Liquidator include:
– An open API for the flexible integration of volatility models. Customers can choose to implement their own proprietary volatility models or utilize the rich models provided by the Orc system.
– New connectivity to ICE, EBS FX, BrokerTec and Russian Trading Systems. Direct connectivity to 100+ markets is now offered.
– For automated trading, using Orc Liquidator, full native access to theoretical price calculations capable of using all Orc pricing models as well as custom pricing and volatility models.
– Improved portfolio functionality for existing analysis tools to enable users to better analyze origin of profit and loss.
– New, enhanced click trading functionality enabling one-window focused trader activity for single-click trading.
– New types of products including variance swaps, fed fund options, barrier quanto options, and turbo warrants can now be priced and traded.