Chicago has for many years been the center for the world’s options and futures trading and has an extensive concentration of market makers and traders. The US in general, and especially Chicago, is in a state of significant transformation due to a much clearer progression in the market towards electronic trading and new participants such as Eurex. The changes provide new possibilities for participants such as Orc Software to provide traders and market makers in Chicago with advanced trading technology.
“We are following with great interest the increasing competition between the exchanges in Chicago and the increased activity regarding electronic trading. Local presence in Chicago substantially improves our possibilities to successfully compete in this market, especially with our new products Orc Liquidator and Orc Futures”, says Nils Nilsson, CEO, Orc Software.
Orc Software already has a considerable number of clients in the US. They will now be able to receive support both from the Chicago office and from Orc Software’s existing office in New York. Patrik Ristner is the head of the Chicago office. Patrik has extensive trading experience, most recently as trader for Van der Moolen in Germany and he has also been head trader, responsible for equity derivatives market making and arbitrage trading, at JP Nordiska in Sweden (currently Kaupthing Bank).
Orc Software’s technology enables trading on all the leading options and futures exchanges in Chicago, and in total Orc Software’s clients can trade on more than 70 exchanges worldwide. Including the new Chicago office Orc Software’s global network encompasses 14 offices in Chicago, Frankfurt, Hong Kong, London, Milan, Moscow, New York, Stockholm, St. Petersburg, Sydney, Tokyo, Toronto, Vienna and Zurich.
For further information please contact:
Anders Fogel, Corporate Affairs tel: +44 20 7942 0949
Susanne Holmlund, Investor Relations tel: +46 8 407 38 50
Patrik Ristner, Managing Director Chicago tel: +1 312 214 3170
Orc Software provides technology for advanced market making, trading and brokerage. Orc Software's technology is used on 157 client sites in 19 countries and allows users to access more than 70 exchanges. The company is listed at OMHEX and has operations in Frankfurt, Hong Kong, London, Milan, Moscow, New York, Stockholm, St. Petersburg, Sydney, Tokyo, Toronto, Vienna and Zurich. In 2002, the company's total revenue amounted to SEK 275 million with an operating income of SEK 115 million.