Trading over the Internet
Designed for the clients of cation. The Orc Online user proﬁle is created in the Orc
banks and brokers online access server via a web based admin tool. The
proﬁle includes an overview of access to market data,
trading gateways, hosts and other relevant information.
Orc Online is an advanced electronic information and
Once the Orc Online user has been deﬁned, you set up
trading system which connects to the Orc System via
and map it to a limit proﬁle in the Orc System data-
the internet for direct market access as well as position
base. The data you can specify for each user includes
password, portfolio(s) and other optional customer
Orc Online can provide market data from all markets
that the Orc System offers connectivity to, as well as
trading access together with efﬁcient surveillance of
the order ﬂow and other customer activities.
White labeled application
The Orc Online application can be white labeled which
allows you to use your own branding. You can include
your own data in the application such as news, analysis
The risk management of customer and order ﬂow is
and quotes as well as web links and logotypes of your
handled on multiple levels. It consists of a combination
of user accessibility which is set up for the Orc Online
user together with the extensive built-in pre trade risk
management of the Orc System, which automatically
makes an instant credit check of a client order before
the order is sent to the market. This vastly increases
The swift distribution of the software makes the start
the broker’s capacity to process large amounts of
up procedure for the end-customer very short. When
transactions, including derivatives instruments - all in a
the users have been set up in the system they receive
safe and orderly manner.
their user name and password by mail and are then
Any attempt by an Orc Online user to breach credit
ready to download and install the front end application -
limits will make the Orc System automatically stop the
this takes no longer than a few minutes. One subscrip-
order before it is sent to the market while at the same
tion allows the user to install Orc Online on numerous
time alerting the broker for manual order intervention.
PC’s: on a stationary computer at the ofﬁce, at home or
on a laptop.
The application runs on WindowsXP and Windows
Portfolio – position keeping 2000 and the users are automatically notiﬁed by up-
grades which are performed online.
The data resulting from Orc Online trading and the The server software installation is easy and fast and
customer information is stored in the Orc System. All can include multiple servers for redundancy. The instal-
positions and transactions are updated and displayed in lation on the server side includes streaming servers for
real-time. This allows for in-house traders and brokers market data, trading server for sending orders and a
to access all customer data as well as all positions and historical server which holds and collects data to sup-
transactions via other Orc System front-end applica- port the charting and technical analysis functionality in
tions, e.g. the Orc Trader or Orc Broker. the application.
Additionally the Orc System offers a rich set of inte-
gration points. For example, orders can be received via
FIX and you can extract and integrate the stored data Market Data
to back ofﬁce and other systems.
Orc Online’s ﬂexible technology makes it possible to
combine market data from different sources. You can
Customer Administration use data feeds from the market connections in the Orc
System, internet feed providers and/or in-house sourc-
Users are easily set up and managed with help of the es. (As illustrated in the System Overview schematic)
administration tools provided with the Orc Online appli-
Internet Data (Optional)
Trading Streaming Streaming Quotes Inhouse Data
GW Server Server –IDP –API
Orders External Systems
*(FIX, Orc Protocol etc.)
Orc Broker Data Vendor
Orc Futures Broker A
Trades Orc ExNet Broker B
ORC ONLINE IS CONNECTED TO THE BROKER’S ORC SYSTEM VIA INTERNET. ALL MARKET GATEWAYS THAT ARE DEFINED
IN THE ORC SYSTEM ARE AVAILABLE TO THE ORC ONLINE USERS FOR TRADING AND MARKET QUOTES. THE BROKER
CAN CHOOSE TO COMBINE MARKET DATA FROM ORC WITH OWN IN-HOUSE DATA OR OTHER EXTERNAL FEEDS TO BE
DISTRIBUTED TO THE ORC ONLINE USERS.
THE ORC SYSTEM SERVER HOLDS THE DATABASE. ORC ONLINE USERS POSITIONS, TRANSACTIONS AND CUSTOMER DATA
CAN BE ACCESSED BY OTHER ORC FRONT END APPLICATIONS.
Front End Functionality
Streaming Quotes Ticker Line
The Quotes window displays all the market data The ticker window displays all market trades and index
available to the user. Streaming data can be provided updates received by the system. This window also
via the Orc system’s data feed APIs, delivering real- enables information ﬁltration, thus allowing the user
time information or from other external sources. to receive trade and market data information for your
By right clicking on an instrument, you bring up selected instruments or markets.
detailed information for that speciﬁc instrument, including
order depth, trading statistics, fundamental data, and
historic performance. Alerts
Alerts in Orc Online highlight market opportunities to
News the user. An alert for an instrument can be set up based
on the following conditions: last, bid, ask, volume, net
Orc Online offers a number of news services – includ- change, turnover or news alerts. When a condition is
ing in house services – that are continuously updated. triggered, the system will alert the user with both audio
There is a choice between free news services or sub- and visual signals putting the Alert window on top if
scription based services. other applications are running.
Charting Module Option Calculation module
Orc Online includes advanced charting functionality, Orc Online offers an advanced option calculation module
with multiple technical analysis tools. You can access with the possibility to set interest rate as well as dividend
and display historical or intraday charts in seconds. The for the underlying asset. Risk and theoretical values are
charts can for example be viewed as line, bar or candle- updated in real-time. The module offers calculations of
stick and you can customize time periods, technical theoretical prices, implied volatility and risk ﬁgures such
study, layout and default settings. as delta, gamma, vega, theta and rho. Calculation models
There are more than 35 technical analysis studies are Black Scholes, Black Scholes 76 and Binomial.
available in Orc Online. Some examples are Volume Historical volatilities can be calculated in the calcula-
analysis (price volume trend, moving average volume), tion module based on your input for number of days.
Momentum analysis (MACD, relative strength index,
slow stochastic) and Trend analysis (moving average,
weighted moving average, Bollinger bands). Studies
can easily be added to an open chart from the menu.
Multiple portfolios can be created in Orc Online, and be
automatically synchronized with the Orc system environ-
ment. The portfolios display true real-time updates of
trades and results. Positions can be viewed as a total
position as well as a list of individual trades. Graphs are
available to show portfolio asset allocation, total proﬁt
and loss, intraday proﬁt and loss, unrealized or realized.
THE ABOVE ILLUSTRATES A QUOTE WINDOW WITH INFORMATION FROM THE LONDON STOCK EXCHANGE TOGETHER WITH A
TRADE TICKER, NEWS WINDOW AND TWO CHARTS. THESE WINDOWS CAN BE LINKED TO UPDATE THE CONTENT DISPLAYED
WITH INFORMATION ON SELECTED CONTRACTS IN THE QUOTES WINDOW. FULL NEWS STORIES ARE ACCESSIBLE BY
DOUBLE CLICKING ON THE NEWS HEADLINES.
MULTIPLE VIEWS LIKE THIS CAN BE SAVED AND MADE EASILY AVAILABLE FROM TABS IN THE APPLICATION.
The Orc System
The Orc System offers electronic access to over 80
markets around the world. Using the Orc System you
can simultaneously trade instruments listed on these
markets as if the markets were a single, virtual market.
The system also allows for multiple users to share the
same infrastructure, thus maximizing your investment
across users, user groups and ofﬁces.