VNDIRECT chooses Horizon for warrants & futures market making

Horizon Software (Horizon) has announced that VNDIRECT Securities has chosen Horizon for warrants and futures market making on the HNX (Hanoi Stock Exchange) and HOSE (Ho Chi Minh Stock Exchange).

Ekaluck Chaiyaporn, ASEAN Sales Director at Horizon, said: “We are excited to be an integral part of Vietnam’s futures and warrants trading, which will be launched later this year. We have an impressive track-record of understanding emerging markets and the technology needed to support the development of derivatives warrants trading. We played a central role in the development of futures and warrants trading in Thailand, Malaysia and China, working with a broad range of firms, from global market makers, to local customers. We have shown that our trading platform is flexible and can easily be adapted to local trading requirements, rules and regulations.”

Giang Nguyen Hoang, CEO at VNDIRECT said: “We were looking for a proven platform for our market making businesses. We needed the core elements of flexibility, cost-effectiveness, and prestigious references in the region. Horizon’s Platform for Automated Trading is clearly the platform of the future: it will enable us to have first market-mover advantage, to respond quickly to market innovations and to keep pace with new product developments, for example, the introduction of options trading. Horizon allows us to create differentiation through its tools which will enable us to build quickly tailor-made systematic trading strategies on the platform. The platform’s flexibility will allow us to expand into other business areas in a very cost-efficient manner.”