STOCKHOLM, Sweden, Jan. 26, 2005 (PRIMEZONE) -- Orc Software, a leading provider of technology for advanced market making, trading and brokerage, reports today that Swedbank Markets, ForeningsSparbanken's equity, fixed-income and currency business, has decided to license Orc Software's most advanced technology, Orc Liquidator. Swedbank Markets has been a client of Orc Software since 1992.
Orc Liquidator offers market makers, traders and brokers a high-performance, server-based trading platform that makes it possible to automatically monitor the market and execute trading strategies. Users are able to program their own trading strategies and adapt them in accordance to changes in the market. With Orc Liquidator, clients are able to develop their own internal trading systems and simultaneously take advantage of Orc Software's access to more than 90 electronic markets.
"Orc Software's technology constitutes a central part of our intensified investment in advanced trading and risk management. Orc Liquidator will enable us to analyze business opportunities, react quickly and manage our risk effectively," says Ronny Jacobsson, Senior Vice President Head of Equities, Swedbank Markets.
Jonas Lindstrom, CEO Orc Software, comments on the deal with ForeningsSparbanken. "That we have been entrusted with the implementation of the Liquidator technology within ForeningsSparbanken indicates the strength of our technology and confirms the importance of advanced trading technology."
The agreement had a financial effect in the fourth quarter of 2004.
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 20 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 29 million. www.orcsoftware.com
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