STOCKHOLM, Sweden, Jan. 26, 2005 (PRIMEZONE) -- Orc Software, a leading provider of automated trading technology, reports today that CQS Management Ltd, a London based hedge fund, will be implementing Orc Software's most advanced technology, Orc Liquidator.
Orc Liquidator offers hedge funds and other asset managers as well as proprietary traders and market makers, a high-performance, server-based trading platform allowing flexible definition, modification and execution of trading strategies across multiple asset classes, broker connections and electronic markets.
CQS will be using Orc Liquidator as the cornerstone of their trading and arbitrage activities for a diverse set of global markets and cross-border opportunities.
"We selected Orc Software after an extensive review of all the key automated trading system vendors," says Michael Hintze, CEO, CQS Management Ltd."We were really impressed with the system's intuitiveness", he added.
Jonas Lindstrom, CEO Orc Software, comments on the deal. ``That we have been entrusted with this key business requirement within CQS indicates the strength of our automated technology and confirms the growing presence of Orc Liquidator within the buy-side community."
For more information: Susanne Holmlund, Investor Relations +46 8 407 38 50
Orc Software provides technology for advanced market making, trading and brokerage. The Orc Technology is used in 20 countries and allows users to access more than 90 markets. The company is listed at Stockholmsborsen and has operations in Chicago, Frankfurt, Hong Kong, London, Milan, Moscow, New York, Stockholm, St Petersburg, Sydney, Tokyo, Toronto, Vienna and Zurich. In 2004, the company's total revenue amounted to SEK 247 million with an operating income of SEK 29 million. www.orcsoftware.com
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