Orc Software, a leading Swedish IT company specialized in software for trading in financial instruments, opened its first regional office for Asia in Hong Kong Thursday.

The company said Hong Kong is an excellent location for its business as it is the world's 7th largest foreign exchange center, housing 138 foreign banks.

Ninety-nine of the world's top 100 banks have presence in Hong Kong, it said.

Helen Peterson, the associate director-general of Investment Promotion at Invest Hong Kong, welcomed Orc Software's opening of its first Asian office here.

"The move reinforces our position as a major financial center in the world," she said.

Invest Hong Kong is a Hong Kong Special Administrative Region Government department charged with attracting inward investment into the city.

(Xinhua News Agency April 25, 2002)