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Orc Software selected by Eik Bank for trading on Nasdaq OMX Nordic.

NORDIC BUSINESS REPORT-2 September 2010-Orc Software selected by Eik Bank for trading on Nasdaq OMX Nordic(C)1994-2010 M2 COMMUNICATIONS

Orc Software (SSE: ORC), a provider of technology and services for advanced trading in financial instruments, today announced that Nordic banking group Eik Bank has selected Orc Trading to support its execution and proprietary trading on Nasdaq OMX Nordic.

The order was booked in Q2 2010, and the contract is based on Orc's licensing subscription model. Financial details were not available.

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.

The integration between Eik Bank's netbank solution and other internal systems has been delivered by SDC, Scandinavian Data Centre and the full solution is scheduled to be operational by October 2010.

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Publication:Nordic Business Report
Date:Sep 2, 2010
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