Banca Akros Selects Orc Software to Provide DMA Solution for the New IDEX Italian Market.MILAN Milan, prince and king of Serbia Milan (Milan Obrenović) (mĭl`än ōbrĕ`nəvĭch), 1854–1901, prince (1868–82) and king (1882–89) of Serbia; grandnephew of Miloš Obrenović. , Italy -- Regulatory News: Orc Software Formed in 1987 by Nils Nilsson and Ulrika Hagdahl, Orc Software's main activity was as a market maker on the Swedish derivatives exchange. Since its inception Orc Software has also continuously developed and marketed software for pricing, trading and risk management in (STO:ORC), the leading global provider of technology for advanced derivatives trading and connectivity solutions, today announced leading Italian investment firm and established Orc Software customer, Banca Akros, has selected Orc for providing a Direct Market Access (DMA (1) (Digital Media Adapter) See digital media hub. (2) (Document Management Alliance) A specification that provides a common interface for accessing and searching document databases. ) solution for electronic trading  This article or section is in need of attention from an expert on the subject.Please help recruit one or [ improve this article] yourself. See the talk page for details. on IDEX IDEX International Development Exchange IDEX Imagery Data Exploitation System IDEX Imagery Digital Exploitation (system) IDEX Identifier of Explorer , the new segment of the Italian Stock Exchange's derivatives market The derivatives markets are the financial markets for derivatives. The market can be divided into two, that for exchange traded derivatives and that for over-the-counter derivatives. (IDEM [Latin, The same.] Used to indicate a reference that has previously been made and typically abbreviated "id." in legal and scholarly bibliographic citations. ) for the trading of electric energy futures contracts. Revenues will be booked as soon as Banca Akros go live with their first customer. "Orc technology will enable Banca Akros to meet increasing demand for trading on the new energy derivatives market," says Laura Bisconcin, Head of IDEX Brokerage at Banca Akros. "Small and middle-size firms willing to trade or hedge in the energy market will be able to access IDEX through Banca Akros. In fact, the solutions provided by Orc will allow us to offer trading and clearing services to all our customers, including those whose small volumes will not justify the fixed costs fixed costs, n.pl the costs that do not change to meet fluctuations in enrollment or in use of services (e.g., salaries, rent, business license fees, and depreciation). for market membership." "The energy derivatives market represents an important liquidity pool for financial investors and a real revolution for the whole Italian economic and industrial system," comments Matteo Carcano, President of Orc Software Western Europe. "We are honored to cooperate with Banca Akros at the time of the new IDEX market launch in Italy and to face this market challenge together." 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's customers include leading worldwide banks, trading and market-making firms, exchanges, brokerage houses, institutional investors and hedge funds. About Orc Software's revenue model Standard agreements follow Orc's licensing subscription model, a flexible approach designed to streamline the customer on boarding process and provide ease of access to software updates, together with a mature support framework. Customers are invoiced quarterly, in advance, and revenue allocated to the invoicing period. Banca Akros Banca Akros is an investment and private banking institution owned by Banca Popolare di Milano Banca Popolare di Milano (ISE: IT0000064482) is an Italian cooperative bank. History The first cooperative bank in Italy, it was founded in 1865 in Milan by Luigi Luzzatti, who later served as the nation's Prime Minister. Group, with a credit rating Standard & Poor's "A- long term" and outlook stable. The Bank is a point of reference for institutions, companies and private individuals operating on financial markets. The strategy of Banca Akros is based on innovation and specialization thanks to its established domestic activity strongly expanded into all main international markets. Banca Akros investment banking activities include Italian and international equity and bonds brokerage and trading, brokerage and market making in financial derivatives, bonds and stock placement, corporate finance, treasury and forex desk, custody and settlement services. Banca Akros' private banking activity includes tailor made asset management, order collection for trading in all domestic & international markets and wealth management services for its high net worth private clients. All the specialized services Banca Akros offers its clients are supported by a constant financial research activity into domestic and European financial markets. Chairman of the Bank is Mr. Graziano Tarantini and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. is Mr. Marco Turrina About Orc Software Orc Software (SSE (1) An earlier full-screen editor in OS/2. (2) (Streaming SIMD Extensions) A series of additional instructions built into Pentium CPU chips for improved multimedia performance by performing mathematical operations on multiple sets of data at the :ORC) is the leading global provider of powerful solutions for the worldwide financial industry in the critical areas of advanced derivatives trading and low latency connectivity. Orc Trading and Orc Connect provide the tools for making the best trading and connectivity decisionsO strong analytics, unmatched market access, powerful automated trading functionality, high performance futures and options trading capabilities, ultra-low latency, and risk management. Orc Trading is used by leading financial firms worldwide for enhanced trading, pricing and risk management on electronically traded derivatives, providing competitive edge to trade from a single platform, on any listed instrument, across all asset classes, on 100+ markets. Orc's customers include leading banks, trading and market-making firms, exchanges, brokerage houses, institutional investors and hedge funds. Its competitive edge lies in its depth of knowledge of the derivatives trading world gained by deploying advanced solutions for sophisticated traders for over 20 years. Orc provides timely sales and quality support services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services from its offices across EMEA (Europe, Middle East, Africa) Refers to that region of the world. For example, one might see products packaged differently for the UK, EMEA and Asia Pacific markets. , Americas and Asia Pacific. www.orcsoftware.com This information was brought to you by Cision http://www.cisionwire.com |
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