DongXing Securities, the Chinese broker, has opted for Horizon Software for its equity trading, market making and algorithmic trading. The deal is an extension of Horizon’s use by subsidiary DongXing Investment.
According to Tang Jianbiao, Head of Derivatives Trading at DongXing, “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.”
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.”