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Gelber Group Taps Orc for PHLX Connectivity

Prop trading firm will quote options on PHLX using Orc's low latency trading engine.

Proprietary trading firm Gelber GroupOrc Liquidator The contract was booked in Q4 2010 and is based on Orc's licensing subscription model.

“With Orc’s connectivity offering to the PHLX, we are now able to quote more efficiently on the exchange,” comments George Kapotas, senior portfolio manager at Gelber Group, in the release. “Orc Liquidator gives us both speed and the ability to customize our trading strategies to effectively quote on the PHLX and, ultimately, to be more profitable.”

Gelber Group is an incubator of trading models that participate in currencies, sovereign debt, equities, commodities, cash markets, futures markets and related options products.

Options market making solutions are a core part of Orc’s business, according to Steve Lukes, VP of Americas Sales at Orc Software, in the release, “Firms like Gelber Group are able to connect rapidly to markets like the PHLX using our low-latency trading engine, Orc Liquidator, and take advantage of market opportunities.”

The Nasdaq OMX PHLX (PHLX), previously called the Philadelphia Stock Exchange, which Nasdaq OMX acquired in July of 2008, is one of the largest options trading venues in North America.

Ivy is Editor-at-Large for Advanced Trading and Wall Street & Technology. Ivy is responsible for writing in-depth feature articles, daily blogs and news articles with a focus on automated trading in the capital markets. As an industry expert, Ivy has reported on a myriad ... View Full Bio

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