CHICAGO (HedgeWorld.com)–A new technology was released last week to give hedge funds and other traders access to an automated trading platform from Orc Software.
Founded in 1987 as a market maker in Sweden, Orc Software has come a long way in reinventing itself as a trading technology firm that can handle trades on more than 65 exchanges. As e-CBOT goes live later this month, Orc users will have automatic access to trade all Chicago Board of Trade products on the platform.
The latest release, Orc Liquidator, lets users program their own trading strategies with a programming language that allows the system to execute trades within these parameters. According to officials, the speed at which the trades can be executed cannot be gained through manual trading and lets firms profit.
The Liquidator technology is a half-buy and half-build program, according to officials, that is “standardized.” It can be brought in and used by multiple firms and, at the same time, can be programmed by a firm to offer strategy-specific trading tools.
According to its annual report, the firm is reaching into new client categories, including brokerage houses, institutional investors, hedge funds and Internet brokers.