OTC Europe LLP, the European arm of interdealer broker OTC Global Holdings, announced it will use Orc Software for its over-the-counter carbon options trading operations.
The firm said that it selected Orc because exchanges sometimes provide inaccurate price data in the OTC emissions trading market, adding that the company’s information technology support network will also prove to be valuable over the long haul.
OTC Europe added that it will use Orc as a brokerage for theoretical calculations, options pricing and volatility management. The company said Orc’s system is tailor made for trading on the ECX/ICE, the most liquid pan-European platform for carbon emissions trading.
“Adding OTC Europe LLP to our client portfolio has strategic significance to Orc, because we recognize the huge potential in the energy sector,” Orc executive Jon Freebody said. “We can see this becoming a major force as liquidity grows and the sector becomes more electronic.”
As the Senior Editor of Advanced Trading, Justin Grant plays a key role in steering the magazine's coverage of the latest issues affecting the buy-side trading community. Since joining Advanced Trading in 2010, Grant's news analysis has touched on everything from the latest ... View Full Bio