QuantHouse
Industry NewsMay 03, 2019

Turkish Broker Gedik Deploys Horizon Platform

Gedik Investment
Gedik Investment

Gedik Investment, a Borsa Istanbul-listed non-bank brokerage house founded in 1991, has deployed Horizon Software’s platform for futures market making, auto-hedging, and algorithmic execution on Borsa Istanbul for single stock options and futures, index options and futures, and FX futures.

Providing direct connectivity to the Borsa Istanbul Stock Exchange and Borsa Istanbul Derivatives Market, Horizon’s platform allows the Gedik team to monitor the market and send execution and algorithmic orders.

The provider of electronic trading solutions and algorithmic technology continues to expand its business across the globe. In late 2018, China-based securities firm Caitong Securities went live with Horizon’s Options Trading platform to enable them to trade SSE 50 ETF options on the Shanghai Stock Exchange.Gedik Investment, which is a leading investment banking advisory and brokerage firm in Turkey, works with domestic and foreign clients and is usually ahead when it comes to financial technology. The firm was the first to use remote access API, access the Derivatives Exchange of Turkey (VOB), claim an options execution on VIOP (Borsa Istanbul Futures and Options Market), gain FIX access to the Borsa Istanbul equities and futures/options market, and access the BIST CoLocation Facility.

Salim Kasap, Head of Futures Trading at Gedik, commented:

“Over the last 25 years, Turkish capital markets have made immense headway and undergone a real transformation. Gedik has actively taken part in this transformation. We are proud of our role in developing the capital markets in Turkey and have worked to create sustainable added value with the diversification of financial product offerings. After deciding to start market making single stock futures on Borsa Istanbul, Horizon was the obvious choice as a partner, and several factors went into our decision. We were impressed with Horizon’s flexible and customizable product and strong presence in the region, as well as the prestigious list of clients worldwide using its solutions. The due-diligence and reference calls to other Horizon users proved that the product provided superior features and capabilities, especially in market making and algorithmic capabilities.”

Damien Jenner, Sales EMEA & America at Horizon, said:

“Gedik Investment clearly has a very focused and dedicated team of trading professionals; its ambition is to be the best performer in the market and to provide FX futures market making on Borsa Istanbul. The success of this collaboration has shown that we can work as a team and exceed expectations, and this is clearly a key partnership for both parties that will benefit our development in the region.”
In October 2017, Horizon reached an agreement with QuantHouse to benefit from its global reach and end-to-end performance by joining the QH API Ecosystem.
Horizon was recently asked to improve ULTUMUS’ ETF trading efficiencies with a number of new features including compositions within minutes, full data coverage with over 30 header fields, enhanced economics, and validated data points (NAV recalculations, tracking of capital changes, etc.).
Since early 2018, the firm began supporting the cryptocurrency market by offering gateways to the main crypto operators within the ecosystem.
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