ORC SOFTWARE TO CONNECT BORSA ITALIANA TRADERS TO LSE’S TRADELECT

Posted February 27, 2008

LONDON – Derivatives trading and connectivity solutions provider Orc Software has begun offering connectivity with the London Stock Exchange (LSE) TradElect platform for Italian and global financial industry participants who will be affected by the upcoming merger of the LSE and Borsa Italiana.

Orc Software is working with Borsa Italiana to streamline market access and meet LSE deadlines for migrating Borsa Italiana onto its platform. The first phase of the migration will occur in September 2008 when stocks traded on Borsa Italiana’s MTA market will move to the LSE platform.

“The merger of Borsa Italiana and the London Stock Exchange creates immediate cross-market opportunities for banks and brokers in Italy and the UK,” says Matteo Carcano, Head of Western Europe, Orc Software. “Today, Orc Software can deliver to members of Borsa Italiana MTA market a ready-to-use, proven connectivity module to TradElect and Infolect, thus making their migration to the new trading platform seamless and cost effective.”

The TradElect platform will become a venue for cross-market access opportunities among the LSE and Borsa Italiana, which together will be among the biggest diversified European exchange groups, including listing and trading of equities, and electronic trading of exchange-traded funds, securitized derivatives and fixed-income products.