Orc Software has launched a new version of its platform for market making, trading and brokerage. With new server-based direct market access (DMA) capabilities and additional connections, users of Orc System 5.2 will be better positioned to integrate with third party systems and connect to all North American derivatives exchanges, the company said. Jonas Lindström, ceo of Orc Software, said: “As electronic trading continues to replace open outcry, the buy-side wants more control and the sell-side is looking to expand its offering. Therefore, demand for extensive DMA and execution capabilities, rather than just strategic advice, is growing.” The Orc System provides direct access to over 100 markets, including all major exchanges, ECNs and other liquidity pools. With the previous connections to the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE) and Boston Options Exchange (BOX), the addition of the new connections to the Pacific Exchange (PCX), Philadelphia Stock Exchange (PHLX) and American Stock Exchange (AMEX), enables Orc Software’s customers to send orders to sweep all six exchanges.
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