STOCKHOLM, Sweden, April 14, 2005 (PRIMEZONE) -- Orc Software, a leading provider of automated trading technology, reports today that an Italian bank will be implementing Orc Software's most advanced technology, Orc Liquidator.
Orc Liquidator offers proprietary traders and market makers as well as hedge funds and other asset managers, a high performance trading platform. Orc Liquidator allows flexible definition, modification and execution of trading strategies across multiple asset classes and electronic markets. Users are able to program their own trading strategies and quickly adapt them in accordance to changes in the market. Orc Liquidator thus offers the clients the flexibility of an in-house development team, but without the costs and lead times. Today, the users of Orc Liquidator can trade on more than 90 electronic markets and Orc Software continues to add new markets.
"It is very satisfying that an additional bank has chosen Orc Liquidator. This order confirms the strength of our automated technology and the growing presence of Orc Liquidator", says Jonas Lindstrom, CEO at Orc Software.
The agreement will, as previously announced in the interim report for January-March, have financial effect from the second quarter 2005.
For more information:
Susanne Holmlund, Investor Relations, +46 8 407 38 50
Orc Software provides technology for advanced market making, trading and brokerage. The Orc Technology is used in 21 countries and allows users to access more than 90 markets. The company is listed at Stockholmsborsen and has operations in Chicago, Frankfurt, Hong Kong, London, Milan, Moscow, New York, Stockholm, St Petersburg, Sydney, Tokyo, Toronto, Vienna and Zurich. In 2004, the company's total revenue amounted to SEK 247 million with an operating income of SEK 30 million. www.orcsoftware.com
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