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November 5, 2008updated 06 Sep 2016 2:40pm

Banca Akros selects Orc to provide direct market access service

Banca Akros, an Italian investment and private banking institution, has selected derivatives trading services provider Orc Software for providing a direct market access service for electronic trading on Idex, the new segment of the Italian Stock Exchange's derivatives market for the trading of electric energy futures contracts.

By CBR Staff Writer

Orc Connect is the global financial connectivity service, which provides traders and brokers with a fast, reliable access to liquidity pools, both for market members and non-members, in the critical areas of execution, market data and reference data, said Orc Software.

Laura Bisconcin, head of Idex brokerage at Banca Akros, said: Orc technology will enable Banca Akros to meet increasing demand for trading on the new energy derivatives market. Small and middle-size firms willing to trade or hedge in the energy market will be able to access Idex through Banca Akros. In fact, the solutions provided by Orc will allow us to offer trading and clearing services to all our customers, including those whose small volumes will not justify the fixed costs for market membership.

Matteo Carcano, president for Western Europe at Orc Software, said: The energy derivatives market represents an important liquidity pool for financial investors and a real revolution for the whole Italian economic and industrial system. We are honored to cooperate with Banca Akros at the time of the new Idex market launch in Italy and to face this market challenge together.

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