Orc Software, a technology provider for advanced derivatives trading and connectivity, announced on Thursday an agreement in which Swedish securities firm Erik Penser Fondkommission will use Orc for its DMA business and new proprietary trading service.
Erik Penser Fondkommission offers a selection of financial services to both the private and institutional investment community including equity brokerage, equity research, asset management and structured products.
Orc technology adopted by Erik Penser Fondkommission includes Orc Trader for cash and derivatives in the Nordic region, Orc ExNet for non-member market access and the CameronFIX platform.
Peter Melbi, Erik Penser Fondkommission's CEO, says the decision to select Orc was based on the technology firm's proven technology and market capabilities.
"We are expanding and strengthening our company, with the aim to list Erik Penser Fondkommission on the Nordic stock market in 2009," says Melbi. "The decision to select Orc was a natural progression given Orc's industry reputation and our conclusive vendor analysis. Orc technology delivers the required stability, flexibility and performance capabilities for our customers," he adds.