Orc is the global market leader in trading technology for listed derivatives. (image: Orc Group)
BOCA RATON, Fla., Mar. 12 (Korea Bizwire) — Orc, a global leader in trading technology, today announced they will expand coverage of Nasdaq markets to include Nasdaq Futures Inc. (NFX), the exchange group’s U.S.-based designated contract market (DCM), on its first day of trading.
Through NFX, Nasdaq will expand its commodities business with futures and options on key energy benchmarks including oil, natural gas and U.S. power, which will launch in 2015. Market participants will be able to manage their trading and hedging needs in a cost-efficient manner, using an innovative horizontal clearing solution operated by The Options Clearing Corporation.
“We are dedicated to evolving our Execution Bricks offering and look forward to providing sophisticated and powerful connectivity solutions to the exchange traded derivatives space,” said Martin Nilsson, Head of Product Management, Orc Group. “We are always looking for new opportunities for our clients and are happy to support Nasdaq’s new endeavor for energy contracts.”
Orc believes the key to staying competitive is robust low latency access to trading venues, and provides fast, reliable market access to over 150 exchanges, broker and alternative liquidity pools in the critical areas of execution, market data and reference data.
“Our cooperation with key trading software vendors like Orc is instrumental to our efforts to provide energy market participants across the world with innovative trading tools,” said Magnus Haglind, Chief Executive Officer of Nasdaq Futures. “Orc offers highly efficient tools for the execution of trading strategies, and our new suite of energy benchmark products will further enable trading firms to invest in commodities in a more cost-efficient manner.”
Nasdaq’s Global Commodities business offers trading and clearing solutions for various related assets including power, natural gas and carbon emission markets, tanker and dry cargo freight, fuel oil, seafood derivatives, iron ore, electricity certificates and clearing services. With market makers, liquidity providers and competitive fees, Nasdaq provides a liquid, transparent and efficient marketplace which appeals to all types of trading entities.
About Orc
Orc is the global market leader in trading technology for listed derivatives. We serve the trading and electronic execution needs of premier institutions worldwide, who rely on Orc to stay ahead in increasingly dynamic and competitive markets. Building on our commitment to long term partnerships and technology innovation that delivers results, our next-generation app-based trading platform empowers professional traders and market makers.
With 200 customers in more than 30 countries, access to over 150 trading venues and offices in each of the world’s key financial centers, we offer true global capabilities.
Combining our technology and financial industry expertise, including a solid understanding of regulatory issues, Orc also provides expert advice and services that help reduce complexity and cost, while enabling clients to stay focused on value creation in their core businesses.
Orc is owned by Orc Group Holding AB which in turn is majority-owned mainly by Nordic Capital Fund VII.
About Nasdaq:
Nasdaq (Nasdaq:NDAQ) is a leading provider of trading, clearing, exchange technology, listing, information and public company services across six continents. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today’s global capital markets. As the creator of the world’s first electronic stock market, its technology powers more than 70 marketplaces in 50 countries, and 1 in 10 of the world’s securities transactions. Nasdaq is home to more than 3,500 listed companies with a market value of over $9.1 trillion and more than 10,000 corporate clients. To learn more, visit http://nasdaq.com/ambition or http://business.nasdaq.com.
Cautionary Note Regarding Forward-Looking Statements
The matters described herein contain forward-looking statements that are made under the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements about Nasdaq and its products and offerings. We caution that these statements are not guarantees of future performance. Actual results may differ materially from those expressed or implied in the forward-looking statements. Forward-looking statements involve a number of risks, uncertainties or other factors beyond Nasdaq’s control. These factors include, but are not limited to factors detailed in Nasdaq’s annual report on Form 10-K, and periodic reports filed with the U.S. Securities and Exchange Commission. We undertake no obligation to release any revisions to any forward-looking statements.
NDAQG
CONTACT: For further information, please contact:
Martin Nilsson
Head of Product Management, Orc Group
Tel. +46 8 506 478 17
email: martin.nilsson@orc-group.com
Jeremie Bacon
President Americas, Orc
Tel: +312 541 4500
email: jeremie.bacon@orc-group.com
Jessica Titlebaum
Marketing Director, Americas, Orc
Tel: +312 541 4181
email: jessica.titlebaum@orc-group.com
Robert Madden
Corporate Communications, Nasdaq
Tel. +347 740 0191
email: robert.madden@Nasdaq.com
Source: NASDAQ OMX Group via GLOBE NEWSWIRE
