Orc Software (SSE:ORC) is the leading global provider of powerful solutions for the worldwide financial industry in the critical areas of advanced derivatives trading and low latency connectivity. Orc’s competitive edge lies in its depth of knowledge of the derivatives trading world gained by deploying advanced solutions for sophisticated traders for over 20 years. Orc’s customers include leading investment banks, trading and market-making firms, exchanges, brokerage houses, institutional investors and hedge funds.

To learn more about Orc Software, please visit www.orcsoftware.com.

Orc Advanced Trading is a point-and-click trading solution used to achieve high return on investment with advanced pricing, trading and hedging capabilities, while managing risk exposure. Orc Advanced Trading offers efficient, specialized pricing, trading and hedging capabilities that hold the key to high returns on investment while limiting risk exposure. Based on a specific trend view, long or short derivatives positions can be selected using the automated or manual trading tools provided. Trade all options combinations, including covered combinations from a single window. Trade synthetic versus exchanged listed spreads, all in one application.

Key Features of Orc Advanced Trading:

1. •Rich interface, including several volatility models and swimming skew functionality
   

2. •Configurable electronic eye functionality for automated trading
   

3. •Ready-to-use pricing and volatility models, or integrate proprietary models
   

4. •Hedge manually or use the Orc AutoHedger for automatically hedging on a per trade basis, aggregated delta basis
   

5. •Click trading for instantly trading on favorable market prices with easy order management functionality direct from the trading window
   

6. •Trade and price option combinations, both synthetic and exchange traded
   

7. •Real-time or on-demand risk management tools enabling risk monitoring on an aggregated level for instant risk analysis
   

Eurodollar Trading in Orc Advanced Trading

Orc Algorithmic Trading is a multi-threaded, server-based trading solution capable of running thousands of complex trading strategies simultaneously and offered with ultra low latency and native connectivity to 100+ markets. Sophisticated traders use Orc Algorithmic Trading to capture latest market opportunities with proprietary, speed-sensitive trading algorithms.

Key Features of Orc Algorithmic Trading:

1. •Multi-threaded, server-based algorithmic trading engine utilized for all proprietary trading strategies; market making, arbitrage, hedging, etc.
   

2. •Trading strategies written in Java
   

3. •Trading strategies utilize any exchange-traded asset and operate on multiple markets simultaneously
   

4. •Examples are provided for building custom trading strategies
   

5. •Quickly apply successful trading strategies to new markets or segments
   

6. •Use built-in pricing and/or volatility models, or integrate proprietary models
   

7. •Complete set of tools for pricing and risk management
   

8. •Easy integration with third-party systems for population strategies with data
   

9. •Start and control strategies via alternate algorithms or from third-party applications
   

Features Spreading Strategy in Orc Algorithmic Trading

Orc Market Making provides advanced capabilities for handling large trading volumes and providing fastest execution with comprehensive risk management. Market makers can quote thousands of instruments on multiple markets simultaneously with extremely low latency using pre-defined or custom pricing models. Backed by high performance and stable and reliable architecture, Orc Market Making enables traders to gain competitive advantage utilizing customized pricing and volatility models.

Key Features of Orc Market Making

1. •Out-of-the-box solution for primary and responding market makers -- for streaming quotes to market or responding to quote requests
   

2. •Support for equity, commodity, fixed income, FX options as well as equity index options, options on futures, warrants, futures, and cash
   

3. •Control risk with automatic hedging on either a per trade or aggregated bases
   

4. •Out-of-the-box or customizable models for accurate pricing and volatility calculations
   

5. •Use volatility models for generating quotes and more restrictive models for assessing risk
   

6. •Quote spread based on delta or offsets
   

7. •Dynamic quote spread adjustment on execution
   

8. •Smart logic to manipulate quoted prices on changing market conditions and own trades
   

9. •Safety features for fast market exit capabilities
   

Options Market Making in Orc Market Making

Orc Connect is the global financial industry’s leading connectivity solution. Orc Connect provides traders and brokers with fast, reliable access to liquidity pools, both for market members and non-members, in the critical areas of execution, market data and reference data. The Orc CameronFIX Universal Server provides the additional market advantage and benefits of the FIX protocol for Orc Connect.

Key Features of Orc Connect

1. •Access to 100+ liquidity pools globally
   

2. •Market data directly from the source, where available
   

3. •Fully supported for FIX and FAST protocol applications
   

4. •Flexible solutions; ease to integrate with disparate systems
   

5. •One solution for global market access requirements
   

6. •One solution to connect all counterparties
   

7. •Industry standard components
   

For a detailed listing of the prices associated with Orc Software, please contact an Advantage Futures sales representative with any questions at 312.756.6460, or email us at ContactUs@advantagefutures.com.