Orc Software, a provider of technology and services for the global financial industry, announced that Chicago-based proprietary trading firm Gelber Group is using Orc Liquidator for quoting options on the NASDAQ OMX PHLX (PHLX) exchange via Orcs direct market gateway. The order was booked in Q4 2010, and the contract is based on Orcs licensing subscription model.
The NASDAQ OMX PHLX exchange, previously the Philadelphia Stock Exchange, is one of the largest options trading venues in North America.
With Orcs connectivity offering to the PHLX, we are now able to quote more efficiently on the exchange, said George Kapotas, Senior Portfolio Manager at Gelber Group. Orc Liquidator gives us both speed and the ability to customize our trading strategies to effectively quote on the PHLX and, ultimately, to be more profitable.
Options market making solutions are a core part of our business, notes Steve Lukes, VP of Americas Sales at Orc Software. Firms like Gelber Group are able to connect rapidly to markets like the PHLX using our low-latency trading engine, Orc Liquidator, and take advantage of market opportunities.
The Orc Trading solutions are used by leading financial firms worldwide for market making, volatility trading and high-frequency trading. Together with access to all major cash and derivatives markets and a network of brokers, this is truly an unmatched offering. Orc Trading is available both as deployed software and as a managed service.
D.C.