Gedik Investment selects Horizon for futures market making and algorithmic trading
May 2, 2019, Paris & Istanbul—Horizon Software (Horizon), a leading provider of electronic trading solutions and algorithmic technology, announced today that Gedik Investment, the Borsa Istanbul-listed leading non-bank brokerage house of Gedik Investment Holding, has begun using its platform for futures market making and algorithmic execution.
Established in 1991, Gedik Investment is one of the leading investment banking advisory and brokerage firms in Turkey, providing research and brokerage services to domestic and foreign clients. Gedik Investment remains a pioneer in the Turkish market, having achieved several firsts. To name just a few, Gedik Investment was the first to use remote access API, access the Derivatives Exchange of Turkey (VOB), claim an option 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. Its parent firm, Gedik Investment Holding is also listed on Borsa Istanbul, as is its Hub Venture Capital (HUBVC) subsidiary.
Gedik Investment is currently using Horizon for market making, auto-hedging, and algorithmic trading on Borsa Istanbul for single stock options and futures, index options and futures, and FX futures. The solution allows the team to monitor the market and send execution and algorithmic orders. The Horizon platform provides direct connectivity to the Borsa Istanbul Stock Exchange and Borsa Istanbul Derivatives Market.
Salim Kasap, Head of Futures Trading at Gedik, said; “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 diversification of financial product offerings. After deciding to start market making single stock futures on Borsa Istanbul, Horizon was the obvious choice as partner, and there were several factors that went into our decision. We were impressed with Horizon’s flexible and customisable product and strong presence in the region, as well as the prestigious list of clients worldwide using its solutions.”
He added: “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, Managing Director Sales EMEA 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.”