Swedish technology firm added Tbricks and CameronTec to its portfolio and has migrated its operations onto the Tbricks trading technology platform during the year.
Orc won the traders’ vote to be crowned this year’s Prop Traders’ ISV of the Year following a busy year of expansion at the Swedish technology company.
The main events of the year for Orc were the acquisition of Tbricks in January 2015 and the merger with CameronTec in October 2015. The firm has spent the past 12 months integrating the technology from these firms into the business.
Orc already had a strong footprint in the prop trading community and Tbricks has over the past 18 months secured a number of notable deals with low latency market making firms across Europe and the US.
Following the acquisition, the company is now focusing on a plan which will see the migration of Orc’s existing client base moving onto the Tbricks trading platform after a full review to identify and address any gaps in workflow.
Jonas Hansbo
“Before the acquisition, Orc and Tbricks were competitors, so we’ve had some experience in migrating clients to the more modern and scalable platform offered by Tbricks,” says Jonas Hansbo, Chief Strategy Officer at Orc and the co-founder and former CEO of Tbricks.
“Over recent months we have been adding API migration tools so that we can run customer installations in parallel during the migration process,” he says.
“We are able to offer similar functionality in both systems and as we continue with the migration plans, it is just a case of familiarising our clients with the new platform.”
The Orc Analyst tool, which has been designed to help ensure firms are ready for the impending Mifid II regulation, has been another focus area for the business, also taking shape, says Hansbo, with the strategy head expecting to start seeing proof of concept for the project in the early months of 2016.
Orc is looking ahead to the implementation of Mifid II, now expected in early 2018 and the company is setting itself up to offer education and consultancy to its clients in addition to its core software offering.
“We have the Orc engineering and market structure strategy teams very much focused on our Mifid II-related work. Trading remains very important, but a cost-effective extension of our offering is key in the new regulatory environment, “says Hansbo.
Hansbo said the migration project will continue as the firm’s main focus for the next 12 months, with growing the trading platform’s customer base also key.
An opportunity the strategy head is keen to tap is the creation of an off-the- shelf solution for clients.
“We have a modern, well-oiled and flexible platform so consolidating all of the group’s offerings on it not only makes sense; it is also gives our clients innovative solutions for new challenges and opportunities, based on a proven technology,” he says.
“We are offering a unique global connectivity platform, with market data and trading functionality, across the trading and execution platforms, as well as post-trade risk controls.
“Following this year’s deals, Orc Tbricks and CameronTec’s Catalys will form the future for trading and execution functionality.”
The Proprietary Traders’ ISV of the year was voted for by over 80 executives from prop firms across the globe.
For more information, contact:
Jonas Hansbo
Chief Strategy Officer
Jonas.hansbo@orc-group.com
+46 70 652 51 93
Lee Griggs
President EMEA
lee.griggs@orc-group.com
+44 20 794 209 58
Greg Chambers
President APAC
+852-2167-1950
greg.chambers@orc-group.com
Jesper Alfredsson
President Americas
+1 312 541 4500
jesper.alfredsson@orc-group.com
Christine Blinke
Chief Marketing Officer
+ 46 739 01 02 01
Christine.blinke@orc-group.com
