Orc obtains CBOE certification for next-generation trading platform

Orc, a global leader in trading technology, today announced that its next-generation Orc Tbricks trading platform now offers a certified interface to the Chicago Board Options Exchange (CBOE), including the CBOE Futures Exchange (CFE). The new high-speed interface enables quoting and trading a broad range of products, including equity options and index options such as CBOE Volatility Indexâ (VIX Index) options.

Orc Tbricks empowers trading desks with a fully flexible, customizable trading system. Its app-based modular platform delivers superior performance, while providing flexibility to adapt to constant market change.

“We are delighted to offer Orc Tbricks users fast connectivity to CBOE through the exchange’s native CMi2 API,” said Jonas Hansbo, Chief Strategy Officer, Orc Group. “A key advantage with Orc Tbricks is that traders now can respond to auctions at several levels simultaneously, using our multi-level quoting app.”

Orc’s recent acquisition of Tbricks allows the companies to leverage each other’s strengths and offer a solution that is unmatched in terms of technology, functionality, connections and services. Orc has long offered CBOE connectivity to professional traders through other products, which means that Orc Tbricks CBOE certification is a significant step forward in the process of aligning Orc’s product portfolio.

“We are pleased to add Orc Tbricks as a certified software product with complete connectivity to CBOE and CFE,” said Gerald O’Connell, CBOE Executive Vice President and Chief Information Officer. “This new interface offers our trading permit holders (TPHs) and their customers a high-performance derivatives trading technology solution.”

Orc Tbricks functionality includes customizable pricing, volatility management, risk management, team quoting, and a series of trading features such as hidden quotes (electronic eye or take out machines), peg quotes, multi-level quoting, quote spreading, portfolio graphs, portfolio stress testing and RFQs.

About Orc Orc is the global market leader in trading technology for listed derivatives. We serve the trading and electronic execution needs of premier institutions worldwide, who rely on Orc to stay ahead in increasingly dynamic and competitive markets. Building on our commitment to long term partnerships and technology innovation that delivers result, our next-generation app-based trading platform empowers professional traders and market makers.

With 200 customers 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 mainly by Nordic Capital Fund VII.