OTC Europe, the European arm of OTC Global Holdings, an independent interdealer broker in over-the-counter (OTC) commodities, has selected Orc Trader for its OTC carbon options trading operations. The contract is based on Orc’s licensing subscription model.
OTC Global Holdings is expanding its business model into Europe with a concentration on energy markets. OTC Europe will use Orc as a thin brokerage GUI for theoretical calculations, options pricing and volatility management. The solution is tailored for trading carbon on ECX / ICE, the pan-European platform for carbon emissions trading, with its futures contract based on the underlying EU allowances (EUAs) and certified emissions allowances (CERs), attracting over 80% of the exchange-traded volume in the European market.
Brett Genus, emissions options broker, OTC Europe, said: “When working in a market which is efficient and also an emerging market such as emissions where there often is irregular and therefore sometime unreliable price data on the exchange, no system offers better flexibility and robustness than Orc Trader. We also appreciate Orc’s exceptional IT support network and the professional resources they provide. Equally impressive is the deep industry and product knowledge demonstrated by the Orc team members.”
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