Stockholm - 1 November 2005 – Orc Software and Trading Technologies International, Inc. (TT) today announced an agreement where TT’s front-end trading system, X_TRADERÒ, will be connected with Orc Software’s extensive exchange connectivity. Orc Software (SSE: ORC) is a leading provider of advanced technology for trading, market making and brokerage. TT develops high-performance trading software for derivatives professionals, including the world's premier exchanges, money-center banks, proprietary traders, hedge fund traders, securities brokers, FCMs and other trading institutions.
Highlights of the agreement:
- TT’s front-end trading system, X_TRADER, will be connected to Orc Software’s extensive exchange infrastructure in order to offer more than 100 market connections through the leading trading screen in the futures industry.
- TT and Orc Software will jointly market the new solution to TT’s existing customer base and prospective customers.
Harris Brumfield, CEO, TT says: "TT’s customers are looking forward to utilising TT’s X_TRADER software to trade on the expansive list of new exchanges now available through Orc."
Jonas Lindström, CEO, Orc Software, adds: "We aim to provide the best market access and this agreement reflects our strategy to leverage Orc Software’s market connectivity. We believe that this cooperation will generate business opportunities for both companies and create an attractive solution for customers."
TT and Orc Software have also come to a mutual multi-year agreement regarding present and future patents. The agreement resolves all patent issues between the companies and will take effect upon the entry of a Consent Judgment by the Federal Court in Chicago regarding TT’s existing MD Trader™ patents. The patent agreement will have no financial impact on either party.
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