Horizon Software has announced that iSTOX, a Singapore-based trading platform opening private capital markets to investors, is operating as an exchange for Horizon’s clients looking to buy or sell digitized securities.
iSTOX was developed on the blockchain technology and opened last February 2020. It is the first regulated digitized securities issuance, custody and trading platform in a major financial center, Singapore.
Through the Horizon platform, the new connectivity provides access to investment opportunities that are otherwise out of reach. Issuers can similarly gain access to otherwise inaccessible segments of the capital markets in a secure, compliant, and cost-effective manner.
Vincent Dumontoy, Head of Client Solutions & Services at Horizon, said: “We are happy to be the first electronic platform to provide direct connectivity to the new platform. Some of our clients are currently starting to issue DeltaOne tokenized securities on iSTOX. Capital markets have seen many changes and innovations over the years, and we believe our clients will strongly benefit from new trading opportunities. Horizon’s market connectivity strategy is to regularly add new native feeds to global exchanges and trading venues. Our clients can now benefit from a wider pool of investors across Asia and beyond on an integrated trading platform that bridge the gap between issuance, custody, and trading.”
Horizon Software is a leading SaaS provider of electronic trading solutions and algorithmic technology. The firm has recently enhanced its OEMS product for derivatives trading by improving automation of client order/execution workflow to create and trade derivatives strategies and now supporting a trading scope of over 10 million instruments. Used by sell-side Horizon clients in Asia for some time, the solution adds new features resulting from Horizon’s unique experience and long-standing expertise in derivatives trading.
In November 2019, Horizon launched a new execution algorithm that 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 favorably and decrease it when the stock price moves adversely.