Orc Software Connects to Chi-X Canada

Orc Software Connects to Chi-X Canada

New York & Toronto - Thursday, April 24, 2008 - Orc Software (SSE: ORC), the
leading global provider of technology for advanced derivatives trading and
connectivity, today announced the release of the latest market connection to
Chi-X Canada.  Orc Trader and Liquidator customers, as well as anyone requiring
direct market access to Chi-X Canada, can use Orc's market connectivity solution
to trade on Chi-X Canada.  Orc Software provides access to over 100 liquidity
pools globally.

“We're pleased that Orc customers will now be able to route orders to and
receive pricing information from Chi-X Canada,” said Tal Cohen, head of Chi-X
Canada. “Our approach from day one has been to work with the community to
provide as much choice as possible, and today's announcement is an example of
that strategy in action.”

“Orc Software has consistently been a leader in connectivity, and the addition
of Chi-X Canada to our connectivity network further strengthens our offering,”
notes Paul Dimtsis, Sales Director, Canada for Orc Software.  “Canadian
customers demand low-latency connectivity to Canadian trading venues and we are
pleased to be one of the first to deliver connectivity to Chi-X Canada.”

Chi-X Canada is a high-performance, fully-anonymous and low-cost continuous
alternative trading system (ATS) for TSX-listed securities. Chi-X Canada
supports a wide array of advanced order types, is based on strict price-time
priority and provides participants with the ability to smart route orders to any
displayed equities marketplace in Canada.

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.

Orc Trading is used by leading financial firms worldwide for enhanced trading
for electronically traded derivatives. It encompasses both screen-based trading
and algorithmic trading for firms to trade any listed instrument, across all
asset classes, on 100+ markets.

Orc Software is next exhibiting in Canada at the FPL Canadian Electronic Trading
Conference in Toronto on May 5 - 6.


About Chi-X CanadaTM

Operated by Chi-X Canada ATS Limited, member IDA/CIPF, smart route orders to any
displayed equities marketplace in Canada, Chi-X Canada aims to provide trading
efficiency and cost savings to investors and ultimately to help increase market
volumes as systems of this nature have done in other markets around the world. 

Based on the same technology that is currently powering Chi-X® Europe and
developed by ATS pioneer Instinet, Chi-X Canada has an internal latency of less
than one millisecond, or 1/1,000th of a second†.
Subscription is available to any IDA-regulated investment dealer with membership
in good standing in British Columbia, Manitoba, Ontario or Quebec. The system is
accessible to members for order entry through the FIX (Financial Information
eXchange) protocol, and market data is available at no cost as a direct feed in
the CHIXMD protocol, which is similar to the ITCH protocol currently in use by
other markets. For more information, please visit the Chi-X Canada website at
www.chi-xcanada.com.

† Internal latency, which is the system's ability to process messages in its
core rather than the round trip measurement, was measured by Instinet to be 890
microseconds, or less than one millisecond. Market volatility and volume may
affect actual performance.


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 derivatives
trading and low latency connectivity. Orc's competitive edge lies in its depth
of knowledge of the derivatives 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… 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 investment banks, trading and market-making
firms, exchanges, brokerage houses, institutional investors and hedge funds. 

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

www.orcsoftware.com

Contact: 
Barry Vasudevan, Marketing Director, Americas, barry.vasudevan@orcsoftware.com,
212-792-5487
Mark Dowd, VP of Corporate Communications, Instinet, Mark.Dowd@Instinet.com,
212-310-5331