Saigon Securities Selects Horizon as Market Maker
Market maker will develop warrant and futures for traders.
Horizon Software (Horizon), a provider of electronic trading solutions and algorithmic technology, was selected by Saigon Securities Inc. (SSI) to make markets in warrants and futures on the Hanoi Stock Exchange and Ho Chi Minh Stock Exchange.
Ekaluck Chaiyaporn, ASEAN Sales Director at Horizon, said: “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 Product Development at SSI, said: “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, added: “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.”
SSI has always been a gateway for foreign investors looking to invest in Vietnam’s financial market. SSI was founded in 1999-2000 and quickly became one of Vietnam’s leading securities corporations providing securities services and investment advisory services, including asset management, investment banking, and treasury. In 2016 SSI was awarded ‘Best Fund House’ and ‘CEO of the year’ in Vietnam.
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