Orc Software (SSE: ORC), the leading global provider of technology for advanced derivatives trading and connectivity solutions, today announced leading Italian bank and established Orc Software customer, Banca Aletti, has utilized Orc technology to launch two new Certificates for basket of stocks on the Italian Securitised Derivatives Exchange, SeDeX.
The new Certificates (AL7499 and AL8461) make use of Orc’s covariance matrix for derivatives based on baskets of correlated securities.
“Banca Aletti’s decision to utilize Orc Trader was based on the sophisticated pricing and quoting functionality provided, thereby enabling us to develop proprietary models while also making use of Orc’s covariance matrix functionality,” says Alessandro Garufi, Banca Aletti’s head of Equity Structured Products. “We are pleased the Orc solution delivered to our exact requirements.”
Antonio Guidi, Orc Software's Sales and Account Manager for Western Europe says: "Orc Software is pleased to deliver additional enhancements and market advantage for Banca Aletti in the critical areas of pricing and quoting."
Banca Aletti, the investment bank of Banco Popolare (MTA: BP), and an established Orc Software customer since 2004, today uses Orc technology including Orc Trader, Orc API and Orc market connections for the Italian Derivatives Market (IDEM), Italian Stock Exchange's (MTA), Securitised Derivatives Exchange (SeDeX), Mercato Alternativo dei Capitali (MAC), Eurex, Xetra, Euronext and Euronext.Liffe.Financials.
Orc Trader is a high-performance front-end application that allows traders to customize volatility models, pricing and automated quoting. Orc Trader meets demanding market requirements for handling large trading volumes, providing fast execution and comprehensive risk management.
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