|Key People||Torben Munch, CEO; Per Larsson, Chairman; Troels Jensen, COO|
|Products||Trading execution and risk management software and connectivity|
Itiviti is a Stockholm-based software firm specializing in electronic trading technology, financial messaging infrastructure and connectivity.
The company, which is majority-owned by Nordic Capital Fund VII, was established in 2016 to combine two established brands, Orc Group and CameronTec, into a single entity. It has 400 staff in 13 offices worldwide.
The merger of the two subsidiaries was announced in October 2015. The company said the change was called for because "IT budgets continue to be squeezed amid continued introduction of tighter regulatory measures, [and] the resulting heightened pressure is forcing firms to streamline their trading technology."  Orc Group acquired Cameron Systems in 2006.
Orc, founded in 1987, provides technology for advanced trading, electronic execution and professional services solutions to the global financial industry. Its trading platform offers connectivity to over 150 markets across multiple asset classes and currencies. The company's customers include investment banks, trading and market-making firms, brokerage houses, institutional investors and hedge funds. The company has more than 200 customers in 30 countries and has offices in Chicago, Hong Kong, London, Milan, New York, St. Petersburg, Stockholm, Sydney, Tokyo and Toronto.
CameronTec, established in 2009, is dedicated to the development, management and distribution of CameronFIX, a Java framework designed for the handling of messages conforming to the Financial Information Exchange protocol, and Catalys, an integrated FIX environment based on CameronFIX.
- 1 Partnerships and Initiatives
- 1.1 Orc provides connectivity solutions for new DIFX trading platform
- 1.2 Bank of China International Selects Orc Algorithmic Trading
- 1.3 Orc Continues Eastern European Expansion
- 1.4 Banca Aletti Launches New Derivatives Using Orc
- 1.5 ICAP Utilizes Orc For FX Trading
- 1.6 Merger With Neonet
- 1.7 Orc Connects To Brazilian Markets
- 1.8 Orc Integrates NYSE Liffe's Cscreen
- 1.9 Orc Partners with Blue Trading Systems
- 1.10 Orc Partners with NovaSparks
- 1.11 Orc Partners with BCS
- 1.12 Orc Partners with Azul Systems
- 1.13 Orc to Acquire Tbricks
- 1.14 UBS to extend Orc's solution
- 1.15 Erste Group migrates to Orc's Electronic Execution platform
- 1.16 Orc introduces Orc Tbricks
- 1.17 Orc expands Nasdaq connectivity
- 1.18 Orc announced connectivity to Aequitas NEO
- 1.19 Orc Tbricks obtains CBOE certification
- 1.20 Sberbank selects Orc
- 1.21 Orc announced co-operation with Galaxy Futures
- 1.22 Shanghai ShenYi Invesment Co implements Orc Tbricks
- 1.23 Orient Securities selects Orc for ETF options trading
- 1.24 Avery Trading selects Orc Tbricks
- 1.25 Orc recruits senior industry people for newly established market structure team
- 1.26 Orc Connects to Borsa İstanbul
- 1.27 Alliance with IHS Markit
- 2 History
- 3 Products
- 4 People
- 5 Resources
- 6 References
Partnerships and Initiatives
Orc provides connectivity solutions for new DIFX trading platform
Orc announced an updated market gateway to the Dubai International Financial Exchange (DIFX) and its new OMX X-Stream trading platform. Orc Software is one of the first certified vendors for the new DIFX platform.
Bank of China International Selects Orc Algorithmic Trading
BOC International Holding Limited (BOCI) selected Orc’s Algorithmic Trading solution for expanding its trading capabilities. BOCI is a wholly owned subsidiary of Bank of China Ltd. and has been an Orc customer since 2004.
Orc Continues Eastern European Expansion
Orc announced a new reseller agreement with IN2 d.o.o., a business applications developer and systems integrator based in Zagreb, Croatia.
According to the reseller agreement, IN2 will provide the full range of Orc Trading and Orc Connect products and solutions for advanced electronic trading and connectivity, including additional services and support to customers in Croatia, Serbia, Slovenia, Bosnia and Herzegovina, Kosovo and Montenegro.
Banca Aletti Launches New Derivatives Using Orc
The Italian bank and established Orc Software customer, Banca Aletti, has used Orc technology to launch two new certificates for basket of stocks on the Italian Securitised Derivatives Exchange, SeDeX.
ICAP Utilizes Orc For FX Trading
ICAP, which operates the leading foreign exchange trading platform EBS, began using Orc's CameronFIX and CameronFAST in September 2007 to facilitate its FX trading. Orc and ICAP finalized the deal towards the end of 2006.
Merger With Neonet
Orc Connects To Brazilian Markets
On Nov. 1, 2010, Orc announced access to the Brazilian markets through the broker Alpes Corretora de Cambio (Alpes). Alpes' clients will be provided Orc's low latency trading infrastructure for high frequency trading strategies and pricing, risk management and volatility management tools. 
Orc Integrates NYSE Liffe's Cscreen
On April 25, 2012, Orc announced that it had integrated the Orc Trading products with Cscreen, NYSE Liffe’s global pre-trade price discovery platform, providing traders with a more efficient way of interfacing Indications of Interests (IOIs) for equity and index derivatives from inter-dealer brokers. 
Orc Partners with Blue Trading Systems
On July 23, 2012, Orc announced a partnership with Blue Trading Systems to provide a combined solution that would integrate BlueTrade’s tablet system with Orc’s electronic options platform. 
Orc Partners with NovaSparks
On October 29, 2012, Orc and NovaSparks announced an alliance for Orc clients to use high speed FPGA data feeds from NovaSparks. 
Orc Partners with BCS
On April 3, 2014, BCS Financial Group announced a partnership with Orc that allowed Orc’s clients to trade Russian securities and derivatives on the Moscow Exchange and on the London Stock Exchange. 
Orc Partners with Azul Systems
On November 4, 2014, it was announced that Orc Group partnered with Azul Systems to enable smarter high performance trading. 
Orc to Acquire Tbricks
On January 2, 2015, Orc Group announced that its parent company signed an agreement to acquire Tbricks, with the intention of transfering ownership of Tbricks into Orc and incorporating it into Orc's trading platform.
UBS to extend Orc's solution
On January 12, 2015, Orc Group announced that UBS Securities has extended its broad usage of Orc’s Electronic Execution solution to facilitate DMA on the Australian Stock Exchange (ASX) and the Chicago Mercantile Exchange (CME). Using the extended solution, UBS leverages Orc’s low-latency market access and a new version of the integrated pre-trade risk management product, Orc Flow Control.
Erste Group migrates to Orc's Electronic Execution platform
In February 2015, Orc announced that Erste Group’s Equity Capital Markets team has migrated to Orc’s Electronic Execution platform, including the Orc FIX Access connectivity product. Erste Group has now consolidated legacy market access gateways into a coherent, manageable and expandable framework, while significantly reducing complexity and infrastructure cost. 
Orc introduces Orc Tbricks
Orc expands Nasdaq connectivity
In March 2015, Orc supplemented connectivity to the energy markets by adding Nasdaq's new futures exchange, NFX. 
Orc announced connectivity to Aequitas NEO
In March 2015, Orc announced connectivity to Aequitas NEO Exchange in Canada. 
Orc Tbricks obtains CBOE certification
Sberbank selects Orc
In June 2015, Sberbank announced they had selected Orc for market making, OTC pricing and Delta One trading. 
Orc announced co-operation with Galaxy Futures
On June 23, 2015, Orc announced a co-operation with Galaxy Futures Co. to provide high performance connectivity to Orc clients for the Chinese markets. 
Shanghai ShenYi Invesment Co implements Orc Tbricks
On June 29, 2015, Orc announced that Shanghai ShenYi Investment Co. (ShenYi) has implemented Orc’s Trading Bricks solution to improve trade efficiency for ETF options trading on Shanghai Stock Exchange (SSE). 
Orient Securities selects Orc for ETF options trading
On July 8, 2015, Orc announced that Orient Securities Co. Ltd. (Orient Securities), one of the largest securities firms in China, has selected Orc’s Trading Bricks platform for their options market making operations on Shanghai Stock Exchange (SSE) 
Avery Trading selects Orc Tbricks
On September 1, 2015, Orc announced that Avery Trading had selected Orc Tbricks for market making on CME Globex 
Orc recruits senior industry people for newly established market structure team
On September 1, 2015, Orc announced two strategic recruitments: Christer Wennerberg, who joined Orc from the SEB Group and Magnus Hedin, most recently with Nasdaq. They are entering Orc’s newly established market structure team with the key mission to adapt Orc’s platforms to upcoming regulatory changes, and to launch a broader product and services offering for supporting clients affected by new European market regulations, including MiFID II/MiFIR. 
Orc Connects to Borsa İstanbul
Alliance with IHS Markit
On October 31, 2017, Itiviti announced a strategic alliance with IHS Markitto create an ETF solution integrating the Tbricks trading platform with SOLA, the ETF data service from IHS Markit.
Formed in 1987 by Nils Nilsson and Ulrika Hagdahl, Orc Software's main activity was as a market maker on the Swedish derivatives exchange. Since its inception Orc Software has also continuously developed and marketed software for pricing, trading and risk management in financial markets.
Through 1995, sales of the Orc Technology were focused on clients in the Nordic region. 1995 saw the first sales to clients in the UK and Switzerland, and in 1996 the first products were sold to clients in Italy, Hong Kong and Germany. In January 1997, Orc first sold its technology to new clients in Australia and Japan. Also that year, OMX acquired just over 50 percent of the shares in Orc Software. Orc continued its worldwide expansion in 1998 and 1999 with sales to clients in the Netherlands and the U.S.
In 2000, the company formed subsidiaries in Frankfurt, London, Milan, Moscow, New York and Sydney. Orc Software's shares were listed on the Stockholm Stock Exchange on Oct. 19, 2000. Orc Software opened offices in Hong Kong, St. Petersburg and Zurich in 2001, and in 2002, Orc signed a distribution agreement with Reuters and opened offices in Tokyo, Toronto and Vienna.
In 2003, Orc opened an office in Chicago.
During the autumn of 2005, Orc Software signed an agreement with OMX regarding the development of a new front-office product.
On Aug. 23, 2007, Orc Software announced they had sold their entire minority interest in InFront, a trading application company based in Oslo, Norway.
On Sept. 24, 2007, Orc announced it had expanded its European presence with the opening of an office in Amsterdam.
On July 13, 2009, Orc announced the opening of a new office in Tokyo, to support its Asia-Pacific business.
Westpac Banking Corporation's equity derivatives trading desk in June of 2011 adopted Orc Group’s technology to scale up their options trading and warrants market making business. The solution provides Westpac with non-membership DMA trading access to the ASX.
On January 31, 2012, it was announced that Nordic Capital Fund VII had acquired Orc Group, which was finalized on January 27, 2012.  The acquisition took the publicly traded Orc Group into the private sector.
On March 22, 2012, it was announced that Orc Group would separate its businesses; Orc, Neonet and CameronTec would be structurally separated to enable the three operating companies to better focus on their respective product and customer niches. 
On April 10, 2012, Orc announced that Korean Investment & Securities Co. Ltd. had selected Orc to meet growing market demand for low-latency connectivity to the Korea Exchange (KRX). 
On April 11, 2012, Orc announced that Marcelo Sacomori, a Sao Paulo-based market maker, had chosen Orc Market Maker for advanced options trading and market making strategies on the BM&FBOVESPA exchange. 
On April 24, 2012, Orc introduced the Gateway Development Kit that enables Orc customers to build custom connectivity to exchanges, brokers, in-house order management systems and market data systems or vendors. 
On August 8, 2012, Orc announced support for Eurex Exchange’s new trading architecture. 
On October 25, 2012, Orc introduced Orc Trade Access, a stand-alone market access solution which provides high functionality and low-latency connectivity to exchanges, brokers and market data sources. 
On November 8, 2012, Orc announced that it had enhanced its connectivity offering by providing access to the US execution services of ABN AMRO Clearing, which provides traders with high-performance access to the US equity and derivatives markets. 
On November 29, 2012, Orc placed a five year EUR 60 million Senior Secured High Yield bond. The notes, maturing on November 27, 2017, will bear a fixed coupon of 8.5% and be subject to incurrence based covenants only, consistent with international high-yield transactions. 
On February 19, 2013, it was announced that National Bank Financial had expanded their use of Orc technology to provide global market participants with algorithmic execution and market access in the Canadian markets. 
On November 27, 2014, Orc announced that Quanterra Advisors leveraged their Professional Services offering to help them with server configuration and trading capabilities. 
On October 30, 2014, it was announced that AlphaGen Securities chose Orc Flow Control for their risk management needs. 
Orc Group has three distinct business lines to help companies in the financial services industry grow their business; Trading Bricks, Execution Bricks and Services. 
Some of their Trading solutions include:
- Orc Trader is a front-end application that allows traders to customize volatility management, pricing and automated quoting, and supports large trading volumes, fast execution and risk management.
- Orc Liquidator is an algorithmic trading engine capable of running hundreds of complex trading strategies. It comes with native connectivity to 150+ markets.
- Orc Market Maker is a low-latency market making application that focuses on risk management and trader productivity. 
- Orc Tbricks is a flexible, scalable and co-located trading platform leveraging Speedcore technology for high performance operations and modular, server based architecture. The platform provides app-based solutions for pricing, trading and risk. 
Some of their Electronic Execution solutions include:
- Orc FIX Access, introduced in October 2013, allows any FIX-enabled trading system to use Orc's native exchange gateways for reaching 150+ global execution venues covering all major asset classes.
- Orc Flow Control is a pre-trade risk management system launched in 2013 to ensure regulatory compliance. 
- Orc's Gateway Development Kit enables firms to connect to any trading or market data venue by building custom low-latency market gateways. 
- Torben Munch, Chief Executive Officer
- Per E. Larsson, Chairman of the Board
- Troels Philip Jensen, Executive VP and Chief Operating Officer
- Tony Falck, Chief Financial Officer
- Klaus Andersen, Executive VP and head of global engineering
- Jesper Alfredsson, President, Americas
- Greg Chambers, President Asia Pacific
- Lee Griggs, President EMEA
- Christine Blinke, Chief Marketing Officer
- Håkan Färdig, VP of Human Resources
- Jonas Hansbo, Chief Strategy Officer
- Itiviti AB Established to Deliver Powerful Trading and Connectivity Offering Built for the Future. Yahoo Finance.
- Orc Group Holding AB: Orc Group and CameronTec Group Join Forces. Orc Group.
- Orc company information. Orc.
- Orc provides connectivity solutions for new DIFX trading platform. Automated Trader News.
- Bank of China International Selects Orc Algorithmic Trading to Spearhead Growth. Reuters.
- Orc Software Continues Eastern European Expansion and Selects IN2 for Reseller and Services Partner in Croatia. EuroInvestor.
- Banca Aletti Utilizes Orc Technology to Launch New Derivatives Products on Italian Market. Reuters.
- ICAP Utilizes Orc Software’s CameronFIX and CameronFAST to Support FX Trading over FIX Protocol. Cision Wire.
- Orc/Neonet merger enables joint equity and derivatives offering. The Trade News.
- Orc offloads Neonet to management and Hay Tor Capital. Finextra.
- Orc Software in offer for Neonet. The Financial Times.
- Orc/Neonet merger enables joint equity and derivatives offering. The Trade News.
- Orc, Neonet and CameronTec to be Operated as Separate Companies. Orc Group.
- Orc Software Provides Connectivity to Brazilian Markets via Broker Alpes Corretora De Cambio. BusinessWire.
- Orc integrates Cscreen to provide OTC pricing and reporting functionality. Orc.
- Orc partners with Blue Trading System. Orc.
- Orc seamlessly integrates ultra low-latency market data feeds from Novasparks. Orc Group.
- BCS Announces Partnership with Orc Granting Russian Market Access to International Investors. Orc Group.
- [ Azul Systems and Orc partner to enable smarter high performance trading]. Orc Group.
- Orc Group Holding AB: Orc Group Holding AB´s owner Cidron Delfi Intressenter Holding AB acquires Tbricks AB. BusinessWire.
- UBS Extends Orc's Electronic Execution Solution. Orc Group.
- Erste Group adds Orc electronic execution. Orc Group.
- Orc Introduces Orc Tbricks. Orc Group.
- Orc extends connectivity of Nasdaq markets. Orc Group.
- Orc extends connectivity to include Aequitas NEO Exchange. Orc Group.
- Orc obtains CBOE certification. Orc Group.
- Sberbank selects Orc. Orc Group.
- Galaxy Futures. Orc Group.
- Shanghai ShenYi Investment. Orc Group.
- Orient Securities. Orc Group.
- Avery Trading. Orc Group.
- Orc Group recruitment. Orc Group.
- Orc Extends Connectivity to Borsa İstanbul to Enable Access from Next-Generation Trading Platform. press release via Businesswire.
- Itiviti Integrates ETF Data From IHS Markit in Delta One Solution. Press release from PR Newswire.
- History of Orc. Orc Software.
- Orc Software Completes Acquisition of Cameron Systems. Automated Trader.
- Orc Software expands in Asia Pacific with new office opening in Japan. Orc Press Release.
- Orc Software Establishes Focused CameronFIX Subsidiary, CameronTec. Mondovisione.
- Orc Software Releases New Orc Spreader with Greater Functionality and Lower Latency. Orc Software.
- Press Release. Orc Software.
- OTC Global Holdings selects Orc Trader for emissions trading. Orc website.
- Orc Software Announces Support for Turquoise Derivatives. CNBC.
- Westpac Banking Corporation Selects Orc Trading Solution For Warrants Market Making. ORC.
- Nordic Capital Fund VII acquires Orc Group. Nordic Capital website.
- Orc, Neonet and CameronTech to be operated as separate businesses. Nordic Capital website.
- Korean Investment Securities selects Orc for low latency access to Korean markets. Orc.
- Orc market maker leveraged for advanced options trading. Orc.
- MXF leverages Orc Market Maker. Orc.
- Orc introduces GDK for building custom connectivity. Orc.
- Orc provides low latency market connectivity to Indian Exchanges. Orc.
- Orc selected by Nano Capital in France for Eurex market making. Orc.
- Torben Munch New CEO of Orc. Orc.
- Orc commits full support of Eurex's new trading architecture. Orc.
- Orc clients take advantage of CBOE CMi 2.0. Orc.
- Crossland using Orc Market Maker for commodity options market making. Orc.
- Orc introduces Orc Trade Access. Orc Group.
- Orc expands connectivity to ABN Amro for US equity and derivativess markets. Orc Group.
- Jih Sun Deploys Orc's Low Latency Sponsored Access Solution in Taiwan. Orc.
- Orc Group successfully places 5 year inaugural Nordic High Yield Bond. Orc Group.
- Orc introduces Orc Flow Control. Orc Group.
- Orc expands broker connectivity reach. Orc Group.
- PNT chose Orc Trader. Orc.
- NBF expands use of Orc technology to provide opportunitie in Canadian markets. Orc Group.
- PhilipCapital opens direct market access to India's National Stock Exchange. Orc.
- Orc selected by Bred Banque Populaire for market making on Eurex. Orc Group.
- Tony Falck new CFO at Orc Group. Orc Group.
- Orc Group AB: Orc appoints Jeremie Bacon to lead Americas operations. Wall Street Journal.
- Troels Philip Jensen to lead Orc's global expansion as chief operating officer. Orc Group.
- Orc introduces Fix Access to global trading venues. Orc Group.
- Orc Introduces FIX Access. Orc Group.
- G. H. Financials selects Orc's Electronic Execution solution to expand its clearing business. Orc Group.
- Orc initiates siren at TMX Group Market Open. Orc Group.
- Orc addes connectivity to Nasdaq OMX NLX. Orc website.
- Orc Smart Order Router Offers High Performance Order Routing and Rich Feature Set for Multi Venue Trading. Orc Group\Date = December 26, 2014.
- AlphaGen Securities selects award winning Orc Flow Control for risk management needs. Orc Group.
- Orc Products. Orc.
- Orc Trading for Algorithmic Trading. Orc Group.
- Market Maker. Orc website.
- Orc Tbricks. Orc Group.
- Orc introduces FIX Access to global trading venues. Orc.
- Orc Flow Control. Orc.
- Orc Gateway Developement Kit. Orc.
- Smart Order Router. Orc.