Switzerland's InCore Bank has licensed electronic trading technology from Swedish vendor Orc Software for its proprietary trading business.
InCore, which provides banking and trading services for other banks and securities dealers, is deploying the Orc Trading technology to replace its existing exchange front-end for SWX and SWX Europe market access.
Although InCore will initially use Orc technology for proprietary trading only, the bank plans to add new functionality, such as Orc Broker for sales desk operations, in the future.
InCore is also considering using the Orc Connect framework for connectivity for incoming and outgoing order flow with access to international markets.
Explaining the decision to select Orc, Thomas Kurzen, head, trading technology, InCore Bank, says: "We have thoroughly evaluated several trading systems providers and chose to go with Orc Trading for its combination of speed and stability. We also appreciate the high quality of Orc's supporting organization and the great potential for growth offered by Orc's open architecture."