|[June 24, 2014]
Orc Group AB: Orc Adds Connectivity to NASDAQ OMX NLX
STOCKHOLM --(Business Wire)--
Orc Group, the global leader in derivatives trading technology, today
announced it provides connectivity to NASDAQ OMX NLX (NLX), the London
based derivatives market for trading a range of both short-term interest
rate (STIRs) and long-term interest rate (LTIRs) euro- and
sterling-denominated listed derivatives products.
The connectivity was developed in partnership with NASDAQ OMX NLX and
existing clients and will be generally available in Q3, 2014. This
extension of Orc's electronic trading platform is further proof of Orc's
commitment to significant R&D investments.
"We are very pleased to welcome both Orc as a partner and their clients
to enter the NLX market place," said Carl Slesser, Chief Technology
Officer, NASDAQ OMX NLX. "This is a significant event as Orc's
experience and top-tier client base in derivatives trading and market
making will bring additional participants to further enhance our
Orc's NLX gateway enables trading in a suite of European listed interest
rate derivatives products across the yield curve. NLX brings together,
for the first time, the short and long ends of the interest rate curve
onto a single market for trading and clearing. Ths year, NLX plans to
expand its product offering with interest rate options contracts.
"Extending Orc's market reach to NLX is the result of immediate client
demand, and also reflects our belief that NLX helps meet a significant
demand for a robust market model in European interest rate derivatives,"
said Martin Nilsson, Head of Product Management, Orc Group. "The NLX
offering of futures and options on the full European interest rate curve
makes for a very attractive proposition to several Orc clients, as well
as a great match with our derivatives trading, market making and
institutional order flow offering."
Orc is the global market leader in trading technology for listed
derivatives. Building on our commitment to long term partnerships and
technology innovation that delivers results, Orc serves the trading and
electronic execution needs of clients worldwide.
Leading trading firms, market makers, banks and brokers depend on Orc to
provide robust solutions that deliver concrete value, ensuring that they
achieve their business goals in the world´s increasingly dynamic and
competitive markets. With nearly 200 customer sites 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 business.
Orc is owned by Orc Group Holding AB which in turn is owned mainly by
Nordic Capital Fund VII.
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