Orc Software (SSE: ORC), the leading global provider of technology for advanced derivatives trading and connectivity solutions, today announced that Raiffeisen Centrobank AG has selected Orc for providing a Direct Market Access (DMA) solution for electronic trading on the Bucharest Stock Exchange (Bursa de Valori Bucureşti). The order was booked in Q3, 2008.
Raiffeisen Centrobank AG, a leading issuing bank in Austria with regional focus on Austria, Germany, and Central- and Eastern Europe, is an established Orc customer, having used Orc solutions in its securities trading and sales operations for several years. Raiffeisen Centrobank bank is now expanding its presence in Romania. For that purpose, the bank has obtained membership with the Bucharest Stock Exchange, which allows for offering DMA services to its clients.
Part of the Orc Connect connectivity solution, the new Orc DMA for Brokerage implementation for the Bucharest Stock Exchange has been co-developed with E2E infotech, a subsidiary of India-based Aurion Pro, an Orc business partner which provides additional integration products and related professional services to customers globally.
“As we already use Orc’s trading solutions in our daily operations and have a solid trust in their capabilities, Orc was our first choice for technology supplier when preparing to grow our business in Eastern Europe,” said Günter Völker, Director IT & Organisation, Raiffeisen Centrobank. “We were pleased to find that Orc delivers just the kind of connectivity solutions we require to build a highly competitive DMA offering to cover several key markets in this region.”
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 has an unrivalled connectivity offering for reaching into the emerging markets of Eastern Europe,” said Anders Henriksson, President Benelux, Central and Eastern Europe, Orc Software. “Raiffeisen Centrobank is a visionary and innovative force on the financial markets in this region, and we are pleased to enjoy their continued trust when providing the solutions and services needed for their expansion in Romania.”
The Bucharest Stock Exchange is the latest addition to Orc’s growing list of broker and market connections to this region, which currently includes leading markets in the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Russia, with extensions planned for a number of exchanges in the Adriatic region.
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