The leading provider of electronic trading solutions and algorithmic technology has integrated its algo-trading platform to Wolverine Execution Services (WEX) so that Horizon users can connect to its infrastructure environment and manage orders on US options, futures and cash equities and benefit from the access to over 20 local market venues.
Wolverine is a leading provider of premier technology and execution services. Its infrastructure is now accessible through a simple API. The Horizon platform offers an advanced options trading functionality while granting authorized users to view options market data, enter orders, and monitor executions through WEX.
Troy Googins, Head of Business & Product Development at Wolverine
Execution Services (WEX), said: “Leveraging expertise in trading technology and risk management, WEX provides clients with anonymity, superior execution and order management, delivering innovative solutions for both technical and institutional trading styles” said. Having the Horizon trading platform connected to the WEX infrastructure advances our goal of providing clients with an efficient one-stop-shop for all their options trading needs.”Vincent Dumontoy, Global Head of Client Services & Solutions at Horizon Software, commented: “From order placement and position management to crafting complex trading strategies, we provide the trading functionality our clients need. With over 15 option exchanges to trade the same instruments, with its variety of instruments to trade the same underlyings (futures and ETFs) and the subsequent obligation to trade within the NBBO (National Best Bid Offer) of every instrument, the US market is very specific and unique in its scale. It also includes specific workflows for Block Trading and Complex Order Books with multi leg option orders. Now, these complexities are easily overcome through WEX. From order management to execution and Block Trading, the functionality and flexibility of the Horizon platform paired with the WEX market connectivity provide traders with the tools they need to customize their ultimate trading environment and trade their way.”
In November, Horizon launched a new execution algorithm which improves automated trading during the opening and closing auctions to benefit from the most pricing opportunities. The platform automates sophisticated trading strategies for the execution of large orders with the TWAP (Time-weighted average price), VWAP (Volume weighted average price) and POV (Percentage of Volume) algorithms. The firm also released a new algo to manage the implementation shortfall strategy, which aims at setting up two levels of spots and three levels of the participation rate. The strategy will increase the targeted participation rate when the stock price moves favourably and decrease it when the stock price moves adversely.
