Hong Kong (with photos)
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Orc Software - a Swedish IT company specialising in advanced financial technology for market makers, proprietary traders and brokers - has upgraded its Hong Kong office into an Asia-Pacific headquarters.
The Hong Kong office plans to recruit additional sales, support and development staff by the end of this year to support its more strategic role. Senior staff from London, Stockholm and Sydney will be transferred to Hong Kong.
"The upgraded Hong Kong office will serve as a stronger platform within the Asia-Pacific region," the Managing Director of Orc Software, Mr Steve Cook, said. "Our business throughout Asia has grown significantly over the last 12 months, and Hong Kong remains one of the best locations to service our clients in the Asia-Pacific region."
Mr Cook said there was a growing demand for the ability to trade securities on several Asian markets without exchange membership. Orc Software offers solutions which enable clients to establish access to all major equities and derivatives markets in Korea, Japan, Hong Kong, Taiwan, Singapore and Australia.
"It is logical to locate our regional headquarters in Hong Kong, a well-established regional financial hub enjoying free flow of information and a fully-convertible currency. Its central location at the heart of Asia - coupled with superb telecommunications facilities and a large pool of IT experts with strong financial background – are some of Hong Kong's many advantages," he said.
The Associate Director-General of Investment Promotion at Invest Hong Kong, Mr John Rutherford, visited Orc Software's expanded office and took the opportunity to congratulate Mr Cook on the company's expansion in Hong Kong.
"Orc Software has made the right choice to locate its regional headquarters in our city. They join the record number of international firms who are using Hong Kong to target the rest of the region. Hong Kong is also a natural market for their financial products," Mr Rutherford said. "We have a cluster of investment banks, hedge funds, brokers and market specialists – all potential clients for the company. We are delighted that Orc Software's investment in Hong Kong will offer advanced technologies and new skills, which are essential for our IT and financial industries to continue to prosper.
Orc Software established its Hong Kong office in 2001. A publicly-listed company on the Swedish Stock Exchange, Orc Software has operations in Chicago, Frankfurt, London, Milan, Moscow, New York, Sydney, Tokyo and other major business centres. Its technology is used in 22 countries and allows users to access more than 100 exchanges worldwide. For more information about Orc Software, please visit the website at www.orcsoftware.com.
Invest Hong Kong is the Hong Kong Special Administrative Region Government department charged with encouraging and facilitating inward investment into the city by providing all the support needed to establish and expand a business presence here. For more information, please visit the website at www.investhk.gov.hk.
Ends/Friday, October 7, 2005
Issued at HKT 12:55
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