Orc announces availability of market access to the Singapore Mercantile Exchange
Hong Kong, Sydney and Tokyo - Orc Software (SSE: ORC), the leading global provider of technology and services for advanced trading in financial instruments, today announced a new market access to the Singapore Mercantile Exchange (SMX).
SMX, the first pan-Asian multi-product commodity and currency derivatives exchange, went live for trading on 31st August 2010. Its electronic platform offers multi-currency and multi-asset clearing, trading, and pricing for contracts with guaranteed settlement and delivery. The first phase of product launches include two leading crude oil benchmarks, Brent Crude priced in Euros and West Texas Intermediate (WTI) Crude Oil, its maiden currency pair, Euro-US Dollar Currency Futures, and the first Gold Futures Contract in Singapore to be settled via physical delivery.
“The successful launch of SMX will provide market players in Asia the flexibility for unrestricted cross-border trading in futures, options and other derivatives across multiple asset classes,” said Thomas J. McMahon, Chief Executive Officer of SMX.
“We are delighted to work with leading vendors like Orc who we see as being critical to facilitating the advanced trading of our members and its clients. Orc’s SMX access clearly demonstrates its leadership in developing best-in-class electronic trading technology,” added Mr. McMahon.
“We wish the SMX team every success with the launch of the exchange and are pleased to be able to offer direct access to the market as part of our portfolio of global connectivity and trading solutions,” said Greg Chambers, President, Orc Software, Asia Pacific.
Orc Trading is used by leading financial firms worldwide for enhanced trading and risk management on electronically traded derivatives. Orc Trading provides the competitive edge to trade from a single platform, on any listed instrument, across all asset classes, on 100+ markets. Orc Trading comprises market leading solutions including Orc Trading for Algorithmic Trading, Orc Trading for Arbitrage, Orc Trading for Market Making, Orc Trading for Risk Management and Orc Trading for Volatility Trading.
Orc is next exhibiting at Derivatives World Asia 2010, Suntec Convention Centre, Singapore on 29 & 30 September 2010.
About the Singapore Mercantile Exchange (SMX)
Singapore Mercantile Exchange is a pan-Asian multi-product commodity and currency derivatives exchange situated in Singapore. It offers a comprehensive platform for trading a diversified basket of commodities including futures and options contracts on precious metals, base metals, agriculture commodities, energy, currencies and indices.
SMX offers market participants the benefits of market transparency, time zone convenience, price discovery and benchmarking, price risk management and multiple connectivity options. Counterparty clearing and settlement risk is effectively managed through its clearing house, the Singapore Mercantile Exchange Clearing Corporation.
The regulator of Singapore’s financial markets – the Monetary Authority of Singapore (MAS) – has granted SMX ‘Approved Exchange’ status since 2010.
SMX is backed by the world’s leading creator of exchanges - Financial Technologies (India) Limited - which has successfully established 10 exchanges across India, Dubai, Singapore, Africa, Mauritius and Bahrain.
SMX is a member of leading international derivatives industry associations, such as the Futures Industry Association (FIA), the Swiss Futures and Options Association (SFOA), the Association of Futures Markets (AFM) and the Futures and Options Association (FOA).
More information is available at www.smx.com.sg (http://www.smx.com.sg)
About Orc Software
Orc Software is the leading global provider of technology and services for advanced trading in financial instruments. Orc’s competitive edge lies in its depth of knowledge of the trading world, gained by deploying sophisticated trading solutions for over 20 years.
Orc Trading and Orc Connect provide the tools for making the best trading and connectivity decisions with strong analytics, unmatched market access, powerful derivatives trading support, automated trading strategies and execution, high performance futures and options trading capabilities, ultra-low latency and risk management.
Through the acquisition of Neonet, Orc also delivers neutral, high speed brokerage services to professional market participants, with clients in over 20 countries globally. With subsidiary CameronTec, Orc is the leading provider of FIX infrastructure and low latency connectivity.
Orc’s customers include leading banks, trading and market-making firms, exchanges, brokerage houses, institutional investors and hedge funds.
Orc provides sales and quality support services from its offices across EMEA, Americas and Asia Pacific.
Orc Software is listed on NASDAQ OMX Stockholm (SSE: ORC).
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