Orc Software

Formed in 1987 by the late Nils Nilsson and Ulrika Hagdahl, Orc Software's main activity was as a market maker on the Swedish derivatives exchange.

Orc Software also develops and markets software for pricing, trading and risk management in financial markets. Up to and including 1995, sales of the Orc Technology were focused on clients in the Nordic region. 1995 saw the first sales to customers in the UK and Switzerland, and in 1996 the first products were sold to customers in Italy, Hong Kong and Germany.

In January 1997, the Orc Technology was first sold to new customers in Australia and Japan. The same year OMX acquired just over 50 percent of the shares in Orc Software. In 1998 and 1999, Orc Software's international expansion continued with sales to customers in the Netherlands and the US.

In 2000, subsidiaries in Frankfurt, London, Milan, Moscow, New York and Sydney were formed. Orc Software's shares were listed on the Stockholm Stock Exchange on October 19, 2000. In 2001, Orc Software opened offices in Hong Kong, St. Petersburg and Zurich. In 2002, a distribution agreement was signed with Reuters and offices were opened in Tokyo, Toronto and Vienna. In 2003, an office was opened in Chicago.