Austrian bank Raiffeisen Centrobank has chosen Orc DMA for Brokerage, a solution from trading technology and connectivity provider Orc Software, to enable it to offer direct market access (DMA) for its clients to Romania’s Bucharest Stock Exchange.
Raiffeisen Centrobank is expanding in Romania, and has become a member of the Bucharest Stock Exchange, which allows it to offer DMA. The Orc DMA for Brokerage offering is part of the Orc Connect connectivity solution. The implementation of the solution for the Bucharest Stock Exchange was co-developed by Orc and E2E infotech, a subsidiary of India-based Aurion Pro, an Orc business partner which provides additional integration products and related professional services to customers globally.
“As we already use Orc’s trading solutions in our daily operations and have a solid trust in their capabilities, Orc was our first choice for technology supplier when preparing to grow our business in eastern Europe,” said Günter Völker, director, IT and organisation, Raiffeisen Centrobank, in a statement. “We were pleased to find that Orc delivers just the kind of connectivity solutions we require to build a highly competitive DMA offering to cover several key markets in this region.”
The Bucharest Stock Exchange is the latest addition to Orc’s list of broker and market connections to central and eastern Europe. The list includes leading markets in the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Russia, with extensions planned for a number of exchanges in the Adriatic region.