Orc Software (SSE: ORC), the leading global provider of technology for advanced trading, market making and brokerage, today announced leading Italian Investment Bank, Banca IMI (Banca d'Intermediazione Mobiliare IMI S.p.A), a fully owned subsidiary of the largest banking group in Italy Intesa Sanpaolo, has signed for an expanded Orc technology solution for enhanced equities trading efficiencies.
An established Orc Software customer, Banca IMI has incrementally leveraged the Orc system across its equities business; reducing its number of disparate systems, and therefore related IT complexity, whilst lowering infrastructure costs.
Banca IMI is using Orc Liquidator, Orc Trader and eight Orc market connections for the Italian Derivatives Market (IDEM), Italian Stock Exchange’s (MTA, SeDeX), EUREX, XETRA, EURONEXT, SFC, and most recently TLX.
With Orc Liquidator Banca IMI captures latest market opportunities by taking advantage of its high performance capabilities for adapting strategies on-the-fly in response to changing market conditions. The reliable and stable Orc Trader meets demanding market requirements for handling large trading volumes on multiple markets and risk management.
Banca Caboto, an investment bank also within the Intesa Sanpaolo, uses advanced trading technology from Orc Software.
“Orc Software continues to provide advanced trading performance to the world’s leading financial institutions; its agreement with Banca IMI a further indication that the European banking community relies on the stable Orc technology,” says Matteo Carcano, President Western Europe for Orc Software. “We look forward to continuing the strong partnership we have established with Banca IMI over a number of years.”
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