Orc Software Pushes the Boundaries of Automatic Trading With New Version of Orc Liquidator

· Easy modifications of multi-instrument trading algorithms;

· Significantly increased speed of running strategies, getting orders to the market and reacting to market events;

· Run-time analysis of trading strategies to identify and remove bottlenecks for maximum performance.

New York, NY – May 3, 2005 – Orc Software today launched Orc Liquidator 5.1, a faster, more customizable and easy-to-use application for creating trading strategies and automatic trading on over 100 markets globally.

Orc Liquidator is a high-performance server-based trading platform that allows institutional investors and hedge funds to quickly design new trading strategies in order to capture short-lived market opportunities – across products and markets – with an extremely high level of performance and flexibility. Orc Liquidator drastically shortens the time from trading idea to full-scale execution and allows for quick adaptation to changing market conditions.

With the introduction of Orc Liquidator 5.1, handling of multi-instrument trading algorithms has never been more powerful, and now allows for modification directly from the user interface using a new Strategy Monitor. Liquidator gives clients a powerful overview and is a synthesis between automated trading and manual user intervention of active strategies, allowing seasoned traders to be completely in control.

Additionally, as performance is a key feature for any automated trading system, Orc Liquidator 5.1 has significantly increased the speed of running strategies, getting orders to the market and reacting to market events. A new tool, called Profiler, provides run time analysis of trading strategies, which makes it easy to identify and remove any bottlenecks for maximum performance.

"The new functionality being offered on Liquidator 5.1 offers institutions and hedge funds greater control over their trading strategies and the fastest time to market in the industry," says Jonas Hansbo, Head of Algorithmic Trading at Orc Software. "With over 100 new features being launched in this package, Orc Liquidator provides the most sophisticated automatic trading platform available in the market today."

Orc Liquidator 5.1 is available now and will be rolled out to customers during the second and third quarter of this year.

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