Dubai-based emerging markets investment bank, Arqaam Capital, has signed a multi-year agreement with Orc Group to renew and expand its usage of the firm's trading technology for stock trading in the region.
Under the agreement, Arqaam will extend its use of Orc Trader to support their cash equity trading on the three stock exchanges in the UAE, Abu Dhabi Securities Exchange (ADX), Dubai Financial Market (DFM) and Nasdaq Dubai (DIFX). The order was booked in Q3, 2011.
This extended partnership also includes significant contributions to Arqaam Capital by E2E Infotech, a subsidiary of aurionPro Solutions Ltd, and an Orc business partner.
“Renewing and extending our partnership with Arqaam Capital is a strategically significant event for Orc,” stated Lee Griggs, President EMEA, Orc in today’s release. “Arqaam is an industry-leading user of our products, and their continued trust in our evolving technology and services testifies to Orc’s commitment to advanced trading firms in Middle East.”
As part of the agreement, E2E Infotech will also continue to work closely with Orc to develop and refine tailored solutions for Arqaam Capital and will provide support to Arqaam Capital locally.
“We are constantly looking for ways to expand and enhance the services we provide our clients, and Orc has evolved its technology to consistently meet our needs,” commented Dennis Wijsmuller, COO of Arqaam Capital, in today’s release. “We look forward to continuing our successful partnership with Orc and aurionPro as we work together to provide efficient solutions in cash equities trading and for derivatives market making.”
“It is gratifying to have our longtime successful partnership with Orc and Arqaam Capital extended in time and scope,” said Deepak Vaishnav, Sales & Engineering, Capital Markets Group, aurionPro Solutions.