STOCKHOLM, Sweden, July 12, 2001 (PRIMEZONE) -- A consortium of BMO NesbittBurns, NBC National Bank Financial and RBC Dominion Securities has reached agreements with Orc Software (SSE:0RC) to provide the Orc System for real time pricing, trading and risk management on the Bourse de Montreal.
"We are very pleased that the consortium has chosen Orc Software to deliver the software required for their trading operations on the Bourse de Montreal and that the Orc System is being recognized as a leading trading application around the world," said Nils Nilsson, CEO at Orc Software. "This is a true breakthrough on the North American market and one of Orc Software's largest single orders."
"By teaming up with Orc Software and other leading Canadian banks, we have now created a market structure that we believe will become very successful," said Jean-Guy Brunelle, Managing Director at National Bank Financial.
"We have been cooperating to make sure that we provide our traders with the best possible trading solution," said John Reilly, Managing Director at RBC Dominion Securities.
"Since we have a tight schedule for implementing a system for our trading on the Bourse de Montreal, we are very pleased to have found a system that meets our requirements, fits into our existing environment and can be integrated with our other systems," said Laura Droughan, Managing Director at BMO NesbittBurns.
The first stage contract commitment will be the delivery of Orc Trader software for the customers during the autumn 2001. The order will place the consortium among Orc Software's top ten clients.
Orc Software develops and markets standardized and turnkey software systems for pricing, trading and risk management in real time in international financial, commodities and energy markets. The company is a leading international software vendor with clients in 18 countries.