Orc Software, the Scandinavian trading technology firm in which Nordic stock exchange group OMX has a stake, is offering connectivity to Pure Trading in Canada, when the auction market in Canada for exchange listed securities opens on 9 March.
Pure Trading is a new trade facility being offered by Canadian Trading and Quotation System Inc., which operates CNQ, the first new marketplace to be recognized since the implementation of National Instrument 21-101 — Marketplace Operation, and the first new Canadian stock exchange in over 70 years.
Pure is the first visible alternative market in Canada, providing a new trading platform for Canadian exchange-listed securities. The proposed high speed trading system will use the X-Stream trading engine supplied by OMX, which is a major shareholder in Orc Software.
“Orc Software has worked diligently to connect to Pure Trading in order to provide its clients with full access to the Canadian equity market,” says Lida Preyma, Pure Trading’s Manager, Business Development & Marketing. “We are delighted Orc will be connected from day one when we launch in March of this year.”
“Orc Software enables customers to take advantage of market opportunities through connectivity to an unrivalled number of markets,” says Peter Sibirzeff, Managing Director – Sales for Orc North America. “Pure Trading is the 105th market that Orc trading applications connect to globally.”
Orc Software opened its Toronto office in 2002, to provide development, support, product management and sales. A number of Canadian investment banks use Orc Software technology, especially the Orc Trader platform for professional traders. It offers order entry, automation, combination trading, volatility management, basket trading, model integration, risk, and order management.