26 June 2017, Paris & Shanghai: A subsidiary of the leading Chinese future house (EverBright Futures) and part of a Fortune 500 Chinese financial business, Everbright Photon has chosen the award-winning Horizon Software (Horizon) as its core trading technology for the new commodity options markets, which went live in China in March (DCE) and April (ZCE) this year. Horizon is the global leader in electronic trading and investment management technology.
Immediately after the 2016 China International Derivatives Forum the Chinese government announced the approval for the launch of two new options markets on the Dalian and Zhengzhou Commodity Exchanges.
JingBo Dong, General manager of Everbright Photon, said: “Everbright Photon has been preparing for the launch of the two options markets, and as part of this we needed to find a trading system. It was clear to us that a sophisticated trading system would be key for our market making business and essential for providing the highest level of service to our clients. We chose Horizon because it soon became clear that they had developed the market-leading system for trading and market making options. They also have a very positive reputation in international markets.”
He adds: “I have many years’ experience of trading derivatives in the US markets, as does the team, and we believe that Horizon will help us to comply with market regulations and grow our derivatives trading business, making Everbright Photon one of the main players in China’s commodity options business.”
The APAC Sales Director for China at Horizon, Clement Pelletier, said: “It gives me great pleasure to announce our collaboration with Everbright Photon. We committed to the rapidly-growing markets in China some years ago and we believe this growth will continue in the coming years. China’s markets are unique and we have adapted our solutions to its regulations and trading practices. All market participants are excited about the launches of the new derivatives markets, which will provide more hedging tools and services to the agriculture sector, and in turn help to reduce risk and increase the stability of the sector.”