Wednesday, May 13, 2009

Orc Software Signs Service Partner Agreement with Premier Italian IT Consulting Firm trade_it

Orc Software (STO:ORC), the leading global provider of technology for advanced trading and connectivity solutions, today announced that the Italian IT consultancy firm trade_it has joined the Orc Vantage partner program.

This partnership seals many years of successful cooperation where Orc Software and trade_it have worked together to provide powerful solutions backed by highly specialized customizations to Orc Software’s customers in Italy. Through this agreement, trade_it’s professional services will also be extended to Orc’s users based in Iberia and in the UK.

Formed in 2000 by software engineers with investment banking experience, trade_it offers consultancy services ranging from the definition of project requisites to software development. trade_it offers a wide variety of tools for customizing and integrating Orc-based trading solutions with front office, middle office and back office systems, as well as with other technologies.

“trade_it has gained a competitive advantage by specializing in integration software for Orc Trading solutions,” declared Luciano Tess, Sales Director at trade_it. “Mainly focusing on the functional side of the business, we have developed a number of modules, including links with Excel and market risk reports together with a wealth of data transfer software. Furthermore, we can support Orc’s customers in writing strategies to perform arbitrage actions or quote through Orc’s algorithmic trading solution, Orc Trading for Algorithmic Trading, which represents a big asset for those companies lacking in internal resources, but willing to explore new business opportunities.” “Over the years, trade_it has built a solid track record at several Orc customer sites in Italy,” said Daniele Moressa, Sales Manager at Orc Software Italy. “We are very pleased that they have formally signed a partnership, and we feel comfortable in recommending them to Orc’s customers who require additional functional support to tailor Orc solutions to their specific local needs.” Orc Trading provides the competitive edge to trade from a single platform capable of running thousands of complex trading strategies simultaneously. Orc Trading is used by financial firms worldwide for enhanced trading, pricing and risk management on electronically traded derivatives. Orc Connect is the global financial industry’s leading connectivity solution. Orc Connect provides traders and brokers with fast, reliable access to liquidity pools, both for market members and non-members, in the critical areas of execution, market data and reference data.

About Orc Software’s revenue model

Standard agreements follow Orc’s licensing subscription model, a flexible approach designed to streamline the customer on boarding process and provide ease of access to software updates, together with a mature support framework. Customers are invoiced quarterly, in advance, and revenue allocated to the invoicing period.

About Orc Software

Orc Software (SSE: ORC) is the leading global provider of powerful solutions for the worldwide financial industry in the critical areas of advanced trading and low latency connectivity. Orc’s competitive edge lies in its depth of knowledge of the trading world gained by deploying advanced solutions for sophisticated traders for over 20 years.

Orc Trading and Orc Connect provide the tools for making the best trading and connectivity decisions with strong analytics, unmatched market access, powerful automated trading functionality, high performance futures and options trading capabilities, ultra-low latency and risk management.

Orc’s customers include leading banks, trading and market-making firms, exchanges, brokerage houses, institutional investors and hedge funds.

Orc provides sales and quality support services from its offices across EMEA, Americas and Asia Pacific.

About trade_it

trade_it is an Italian software company focused on systems integration and Web strategies to support financial trading. Formed in 2000 by software engineers with investment banking experience, the company designs and implements solutions based on cutting-edge Internet technologies in a fast and cost-effective manner, specializing in Web/Java based application front ends.

trade_it can work with the client from the definition of functional requirements through to software maintenance and support. The company also provides technical training at various levels as well as training on the job during the course of implementation projects.

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