Orc Software s Offering How Trading Technology Can Develop The Market Anders Henriksson, President Benelux, Central and Eastern Europe ZSE 17th Annual Conference 12-13. October 2007 www.orcsoftware.com
Agenda Company Introduction & Global Offering Regional Offering Case Study 1 Case Study 2
Orc Software Is The Leader in Advanced Trading Systems & Connectivity More than 600 customer sites Global company with local presence in every major financial center Acquisition of Cameron Systems in 2006 - the no 1 provider of FIX Protocol connectivity solutions Publicly listed, 2006 revenue of approx US$60 million, 250+ employees
We Help Advanced Derivatives Traders To Trade Advanced trading of listed futures and options equities, FX, fixed income, commodities Automatic quoting, trading and hedging, Synthetic order types, Pre trading analysis, Risk Management, Volatility Management Algorithmic / Black Box Trading System Orc Liquidator Customers are proprietary trading desks at investment banks, hedge funds, and trading firms 4
And We Provide Connectivity Connectivity to all FIX counterparties globally with the CameronFIX Universal Server FIX platform Largest FIX customer base 500+ customers Advanced management and monitoring of FIX sessions Highly available infrastructure Market Gateways to connect to non-fix exchanges Customers are exchanges, broker/dealers, asset managers, hedge funds across all asset classes 5
More Firms Use CameronFIX Than Any Other FIX Platform BROKERS INVESTMENT MANAGERS EXCHANGES & ISV's Barclays Capital-Global Fidelity Investments-Global International Securities Exchange- CIBC World Markets-Global Capital Group-USA Market Axess Credit Suisse-Global Western Asset Mgt.-USA Singapore Stock Exchange TD Securities-Canada State Street Global Advisors-USA Warsaw Exchange-Poland Banc of America FX-USA/UK MFS Investment Mgt.-USA ICE-USA LaBranche Financial Svcs.-USA BlackRock-Global Australian Stock Exchange Citigroup Global Markets-AustraliaAXA Investment Mgt.-UK Bond Exchange South Africa Nomura Securities-Global TD Asset Management -Canada EBS-Global Goldman Sachs JB Were-Australia (CDP) Caisse Depot -Canada FXall Macquarie Securities-Australia Legg Mason Asset Mgt. -USA Currenex Knight Securities-USA/UK Barclays Global Investors-USA Hotspot FX DBS Securities-Singapore Citadel-USA Charles River Development Merrill Lynch International-Asia Pacific Ronin Capital-USA Latent Zero Agora Senior-Brazil Born Capital-USA Portware UBS-Global AQR-USA Financial Models Company BBV Bancomer-Mexico Tribeca Management (Citigroup)-USA Omgeo CLSA-Asia LaBranche Structured Products-USASWIFT
Connectivity Out Of One Platform
Global connectivity - Native Market Gateways, non FIX North America AMEX Archipelago Boston Options Exchange Bourse de Montréal BRUT CBOT CBOE CFE CME Eurex US INET ISE Nasdaq NQLX NYMEX NYSE OneChicago Toronto Stock Exchange PCX PHLX TSX TSX Vent Asia Pacific Australian Stock Exchange SEHK HKFE KSE ITS NZX OSE SGX SFE TAIFEX TSEC TFX TSE TIFFE
Global Connectivity - Native Market Gateways, non FIX Europe Amsterdam Switch (Switch) - Budapest stock Exchange (BSE) CATS (CATS-OS) Copenhagen Stock Exchange (CSE) Eurex (Eurex) EuroMTS (MTS) Euronext Euronext.liffe (London, Paris, Brussels) European Energy Exchange (EEX) Euwax FORTS Iceland Stock Exchange (ICEX Irish Stock Exchange (ISE XETRA) Istanbul Stock Exchange (ISE) Italian Stock Exchange (MTA) Italian Stock Exchange (SeDeX) Italian Derrivatives (IDEM) London Stock Exchange (SEAQ, SETS, SETS DTS, RSP) Luxemburg Stock Exchange (Luxx) Madrid Derrivatives (MEFF) Madrid Stock Exchange (SIBE) MOT Moscow Interbank Currency Exchange (MICEX) Nordic Growth Market (NGM) OMX (Stockholm&Helsinki Stock Exchanges) (SOM, HEX, SAXESS) Oslo Stock Exchange (OSE) OETOB Quotrix Riga Stock Exchange (RSE) Swiss Exchange (SWX) Talinn Stock Exchange (TSE) TLX Vienna Warrants Virt-x Warsaw Stock Exchange (WSE) Xetra Xetra Vienna
Our Global Customer Base Uses Orc For Cash equities Equity futures/forwards Single stock options Index options Exotic options Convertibles Bonds Bond futures Bond options Interest rate swaps Repos Forward Rate Agreements Equity swaps Currency spots Currency futures/forwards Currency options Currency swaps Deposits Baskets Certificates Warrants Structured products STIR futures STIR options Option spreads Commodity futures Commodity options
Regional Offering and Usage
Regional Connectivity Central and South Eastern Europe Vienna, Available Budapest, Available Warsaw, Available Zagreb, Available in Q4 Bucharest, Available in Q4 Prague, Available in Q4 Both cash and derivatives markets are available (where applicable) In Planning: Ljubljana Belgrade Athens
Regional Usage Both Cash and Derivatives, Mainly Equities: Institutional Brokerage Retail Brokerage Electronic Execution Prop. Trading & Market Making: Trading & Market Making Index and Single Stocks Options Futures Trading & Market Making ETF Market Making and Hedging Warrants and Certificates Pricing Risk Management
Case Study 1
Our Example Deployment (I) The investment-bank of a large European Mid-Tier Bank active in the Region Orc package deployed as a platform covering all group related equities trading Business covers Prop. Trading &Sales/Brokerage related activities > 10 Direct membership markets connected All of US and Europe (cash and some derivatives) connected through brokers
Our Example Deployment (II) Parts of Product Portfolio deployed: Orc Trader Orc Broker AQ OIM Orc2Orc Technology FIX Gateway FIX Out technology Model-builder, Financial Engineering Tool Market Gateways
Our Example Deployment (III) Desks covered: Market Making Domestic Market Making International Prop. Trading Sales Trading Domestic Sales Trading International
Quote Requests & Orders Online Brokers Orders Orders Orders Orders Orders FIX-Orders SWIFT-Orders CATS OS ECN TQS ORC Online Reuters Xetra Bloomberg Station Thomson Autex GL Trade Internet/ Citrix SWIFTnet ORC Internal Market Cameron Universal Server SWIFT-GW ORC Platform EUREX XETRA FFM XETRA WIE EUWAX CATS ECN OMX SWX VIRT-X Italy LSE Budapest Warsaw Group Companies Acting as Brokers Internal Brokers Local Markets Euronext, USA, Scandinavia,... Software Modules Electronic Exchanges
Case Study 2
Business Covered Electronic Execution for 400+ Branches Internet platform integrated Institutionals connected by Real-Time Order Entry and Information Terminal or FIX Engine Execution Point 50+ Markets Cash, Warrants and Exchange Traded Bonds In addition we cover Market Making, Prop. trading and Derivatives Brokerage
Electronic Execution SWX WSE 2. Market 1. Orderentry XETRA FFT ORC - Software Robotic Trading XETRA VIE 3. Trades Dokumentation EUREX FIX Connected Broker/s Broker X NYSE NASDAQ SEAQ EURONEXT SWX MIB FINL. SSE VIRT-X FTSE Middleware (MQ, TIB/RV etc.) Order entry LEGACY HOST SYSTEM Order entry Risksystem Settlement Settlement Branch Network Internet