Orc has teamed up with Galaxy Futures Co. to allow its customers to trade on Chinese markets using Galaxy’s exchange memberships. This is Orc’s first joint offering with a local broker in China and builds out its Asia-Pacific strategy of developing close cooperation with regional brokers.
The cooperation between Orc and Galaxy integrates Galaxy’s gateways with Orc’s Trading Bricks solutions to allow their mutual clients to trade ETF options on the Shanghai Stock Exchange. Galaxy is also providing Orc customers with access to the China Financial Futures Exchange for the CSI 300 index futures and options mock trading competition, allowing traders to prepare for the introduction of CSI 300 index options in the pre-production exchange environment.
Aleck Wu, managing director at Galaxy Futures, says: “Orc’s technology is recognised as the global standard and we are excited about this powerful addition to our connectivity offering. We would like to welcome more international Orc users to trade futures and options via Galaxy and would be pleased to offer additional services including administration, legal and clearing in order to help them establish access to Chinese markets.”
From Orc’s perspective, Greg Chambers, president of the Asia-Pacific region, says: “We are seeing growing demand from our international customers to access and trade on Chinese markets. This is driving demand among the local brokerage community to be able to facilitate that business. We are also seeing demand among Chinese exchange participants for world class trading technology as the markets open up for more listings of exchange traded derivatives.”
On the company’s strategy in Asia-Pacific, Chambers adds: “Orc’s strategy in Asia-Pacific has always been to develop close cooperation with regional brokers as the fragmented nature of the region’s markets, and difficulties in establishing direct memberships for trading, mean there is a need for cooperation between us as a technology provider, the brokers and our trading customers. Orc’s Trading Bricks and Execution Bricks solutions provide all concerned with direct market access across the region. The offering with Galaxy opens up the same capabilities in China.”