Erste Group Adds Orc Electronic Execution Solution with Orc FIX Access for Connectivity

Orc (STO:ORC), a global leader in derivatives trading technology, today announced a multiyear contract with Erste Group Bank AG. A longtime Orc client, Erste Group’s Equity Capital Markets team has used Orc for trading and market making, in particular on Erste’s own structured products. By migrating to Orc’s Electronic Execution platform, including the Orc FIX Access connectivity product, Erste Group has now consolidated legacy market access gateways into a coherent, manageable and expandable framework, while significantly reducing complexity and infrastructure cost.

Orc FIX Access allows any FIX-enabled trading system to use Orc's native exchange gateways for reaching 150+ global execution venues covering all major asset classes. By replacing existing infrastructure with normalized market connectivity using Orc FIX Access, Erste Group has reduced their total cost of ownership as well as execution risk. Multiple legacy applications, including the institutional order routing system, have migrated to the new Orc infrastructure.

"We were pleased to recognize how Orc’s consolidated trading and connectivity offerings meet both our present requirements and future plans,” said Marcus Hemetek, Head of Organization Global Capital Markets, Erste Group. "We appreciate Orc’s product roadmap, and are very impressed with the quality and skill of Orc’s services offering, which we will utilize for a number of critical development efforts.”

Orc Professional Services has assisted Erste Group in key projects related to their systems migration, including development of connectivity interfaces providing access to regional OTC markets via a common FIX interface, and a synthetic order service.

"We are delighted to strengthen our partnership with Erste Group by providing their advanced trading solutions as well as their electronic execution platform,” said Lee Griggs, President EMEA, Orc Group. "Our launch of Orc FIX Access has had a very favorable reception from the market, and the successful implementation by Erste Group will certainly serve as an example for other firms.”

Orc Professional Services helps clients optimize and customize their trading technology solutions to meet each specific business requirement. Orc’s expertise is thus available for driving change, executing technical projects and ensuring cost efficiency in business development.

About Erste Group

Erste Group is the leading financial services provider in the Eastern part of the EU. 44,000 employees serve 16.5 million clients in more than 2,800 branches in 7 countries (Austria, Czech Republic, Slovakia, Romania, Hungary, Croatia, Serbia).

Erste Group Corporates & Markets aims to become the first-choice bank for companies with a strong foothold in CEE. Erste Group and its subsidiaries are market leaders in Central and Eastern Europe with a long-term view on the region and financing the local real economies. Erste’s business model, extensive CEE franchise and stable capital strength to support clients throughout their entire business cycle. Erste provides financing and advisory services, while also supporting its clients in tapping the market and in their M&A transactions. Erste’s offering also includes tailor-made treasury and transaction banking products.

About Orc

Orc is the global market leader in trading technology for listed derivatives. Building on our commitment to long term partnerships and technology innovation that delivers results, Orc serves the trading and electronic execution needs of clients worldwide.

Leading trading firms, market makers, banks and brokers depend on Orc to provide robust solutions that deliver concrete value, ensuring that they achieve their business goals in the world’s increasingly dynamic and competitive markets. With nearly 200 customer sites in more than 30 countries, access to over 150 trading venues and offices in each of the world’s key financial centers, we offer true global capabilities.

Combining our technology and financial industry expertise, including a solid understanding of regulatory issues, Orc also provides expert advice and services that help reduce complexity and cost, while enabling clients to stay focused on value creation in their core businesses.

Orc is owned by Orc Group Holding AB which in turn is majority-owned by Nordic Capital Fund VII.

www.orc-group.com

This information was brought to you by Cision http://news.cision.com