MidPoint Match is a fully automated, instantaneous equity matching platform that executes orders at the midpoint price of the National Best Bid and Offer (NBBO) throughout the day, making it well-suited for executing trades generated by algorithms.
âOrc Software has a long and successful history with the ISE,â said Peter Sibirzeff, managing director of Orc Software in the U.S. âWeâre very pleased to be early adopters of MidPoint Match and to offer our clients electronic access to this new exciting offering. Orc is the leading ISV in the U.S. equity options space; the addition of MidPoint Match further strengthens that position.â
Andrew Brenner, head of ISE Stock Exchange, said, âWe are pleased that Orc Software has connected to MidPoint Match, providing Orcâs broad client base with the opportunity for anonymous execution and continuous price improvement on our platform. We look forward to Orcâs participation and support as we continue to roll out the ISE Stock Exchange over the coming months.â
Orc Software provides direct market access to over 100 derivative and equity exchanges around the world through a single platform and order entry book. Orc Trader, the industryâs most advanced trading terminal, provides traders with sophisticated functionality for both buy- and sell-side customers.
The addition of MidPoint Match allows traders to minimize market impact and provides enhanced trading flexibility by allowing traders to buy and sell equities on a seamless and fully integrated, exchange-based platform.