Trading technology provider Orc Software has launched Orc Spreader, its product tailored for high frequency arbitrage and spread trading in Asia.
Part of the firm's Orc Trading for Arbitrage suite, Orc Spreader was developed in 2008 and uses the Orc Trading algorithmic trading engine. Used primarily by futures spreaders, pairs traders, and other high frequency arbitrageurs across multiple markets and asset classes, the system uses automated trading logic to reduce a trader's manual workload, allowing them to trade more spreads simultaneously and grow their overall level of trading. Orc Spreader can be co-located at exchanges to achieve the lowest possible latency.
“For arbitrage and spread traders, profitable opportunities are becoming increasingly difficult to reach and take advantage of,” said Greg Chambers, president, Asia Pacific at Orc Software. “We see the launch of Orc Spreader as offering a new level of competitive advantage in the critical areas of speed of execution, market access and scalability through increased trading capacity and automation.”
The launch of Orc Spreader follows Orc Software's introduction of direct market access for the recently opened Singapore Mercantile Exchange earlier this month, as well as its provision of connectivity to the Australian Securities Exchange in June 2010. In addition, the firm has agreed that algorithms supplied by sell-side technology firm Knight Direct will soon be available via the Orc ExNet broker connectivity network, which provides access to various liquidity pools including exchanges and electronic communications networks.