Horizon Software, the provider of electronic trading solutions and algorithmic technology, today announced that Saigon Securities Inc. (SSI) 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, commented on the announcement:
The selection process with SSI was rigid, and we are very pleased to have been chosen by them; we can definitely see the potential for growth for both our businesses as a result of this deal. Working with SSI adds to our track-record of working with and understanding emerging markets and the technology needed to support their development. We have demonstrated time and time again that our trading platform is adaptable to local requirements.
Truong Ho Hai Minh, Director of Product Development at SSI, added:
We were looking for a proven platform for our market making business, and so we took the time to evaluate a number of vendors to ensure that they can meet requirements specific to our market. We chose Horizon Software because they provide us with the core elements of flexibility, cost-effectiveness, and prestigious references in the region. As the Vietnam market has some specifics, such as T+2, the adaptability of Horizon’s platform works well for SSI.
Steve Yam, CTO at SSI, concluded:
Horizon’s platform complies with our technology policy for critical systems. It supports ‘automatic failover’, which ensures smooth operation under unforeseen circumstances. The platform’s security and reliability has been proven by leading global banks and securities firms across the region. These features are of paramount importance to market makers to provide stable and efficient price quoting services.