DongXing Securities Chooses Horizon for Option Trading

  • Trading Systems
  • 12.10.2016 07:15 am

Horizon Software (Horizon), the leading global technology provider for electronic trading and investment management, announced today that Chinese broker,DongXing Securities (DongXing), has chosen Horizon for its equity trading, market making and algorithmic trading. The deal is a major extension of Horizon’s use by DongXing Investment, a subsidiary of DongXing Securities, which has a market cap of USD 9.5 Billion and is named as one of the Forbes 2000 largest companies in the world.

Tang Jianbiao, Head of Derivatives Trading at DongXing, said: "Our derivatives and prop trading teams trade a broad wide range of products, including securities, futures, options and other financial instruments. We looked at a number of platforms and Horizon was a good fit, not least because it is able to support the asset classes in which we’re interested and the system can be easily extended. The system’s flexibility allows us to quickly create multiple strategies; it provides easy integration with our OMS, middle- and back-office systems, so the implementation of the trading platform will be fast."

Terence NG, Senior Sales Manager at Horizon, said: "The cooperation between Horizon and DongXing Securities goes back two years, with DongXing Investments running its trading business on Horizon. We are proud of being able to extend this relationship and look forward to working with DongXing Securities on going live with a much bigger trading system, which will include multiple derivatives exchanges in China, supporting trading of a broad range of financial products.”

Dr. Dengli Wang, Head of Proprietary Trading at Dongxing, added: "It’s very common in China for the proprietary trading to be mostly handled manually. However, with the increasing popularity of futures and SSE 50 ETF Options, and the forthcoming launch of new derivative products on the Shenzhen Stock Exchange and CFFEX, proprietary trading firms in China, especially quantitative trading, are concerned about how to implement complex trading in a limited time frame. The key consideration of any quant team is to control their risk exposure, and Horizon will help us to significantly reduce the time between calculating risk exposure to sending an order. The speed and efficiency provided by Horizon are exactly what each trading team has been looking for."

Horizon provides full connectivity to RootNet and Hundsun, without which trading in China is not possible. With Horizon DongXing will be able to access a number of different trading venues and market data providers. The fully integrated system will be used by several trading teams for creating different strategies.

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