Moscow Exchange (MOEX), specialising in equity and derivatives trading is going live with Horizon Software’s global trading technology. Horizon is the first global vendor to be certified for both equities and derivatives trading and will provide access to the full suite of electronic trading solutions to all exchange members: investment banks, hedge funds and brokers. The company has worked closely with MOEX to release fully compliant, high-speed connectivity for members and clients and is the only global vendor to be certified for both equities and derivatives markets by the exchange.
Horizon moved quickly to work with the exchange on developing the trading solution, with the work completed in just a month – this is notably quicker than the two to three months often taken for similar development work. MOEX is the largest Russian exchange both in terms of turnover and its extensive client base and this project is seen as a significant opportunity for Horizon. The main goal of the exchange is to provide Russian and foreign market participants and investors with a safe and effective access to the booming Russian market. The primary requirement for the new system is to increase reliability and safety as the exchange strives to achieve the status of an internationally competitive market through improved efficiency of market infrastructure, product diversity and liquidity.
Sylvain Thieullent, CEO Electronic Trading at Horizon Software, says: “We are continually extending market coverage for our clients and much of our R&D is focused on developing ultra high-speed connectivity. Being the first to provide a new “all-market” gateway for the Moscow Exchange is a major step in Horizon’s commitment to Russia’s financial markets and a strong foundation for our operations in the country, where we are already working with a number of clients.” Thieullent adds: “As with all our clients, we will provide local support for all trading participants of the exchange through all the stages of the go-live process.”
The new Horizon Software DMA Gateway includes full support for:
- Order routing and enrichment
- Extensive pre-trade risk management
- Low-latency, high-throughput interface (binary and FIX)
- Exchange native market data feed
- Market making on equities and derivatives.
With the addition of access to the Moscow Exchange, Horizon currently provides certified, high-speed connectivity to 36 exchanges in the most important financial centres in Asia, Europe and the Americas. Horizon is recognised as one of the most proactive ISVs in terms of market coverage.