Horizon Software enhances futures market connectivity in China
13 August 2019, Shanghai – Horizon Software, the global leading provider of electronic trading solutions, is announcing today the “Penetration Mode Connectivity Upgrade” for futures trading. The market connectivity upgrade was developed in response to the “Notice on Further Strengthening the Collection of Information on Clients’ Trading Terminals in Futures Operating Agencies” requirements in China, which enforce the need for transparency and monitoring of the local futures trading market.
The China Futures Market Monitoring Center (CFMMC) will enforce the new requirements through the collection of local terminal information on all clients trading futures in China, which is only possible if the platform vendor reports itself to the CFMMC. Horizon’s upgrade automates the process of data collection from its embedded downstream counters’ APIs, ensuring all information is accurate and encrypted.
By calling the embedded APIs, Horizon platform will collect and encrypt client terminal information as per requirements at the time of logging-in, allowing for an immediate report to be sent to the CFMMC. The report contains information such as trading software vendor ID, public network IP, log-in time, and other data.
Minh Quy Nguyen, North Asia Director of Horizon Software, said: “Our technology has always been the standard in the industry and to uphold this we are continually modifying our platform to fit in with different countries’ and clients’ requirements. Our “Penetration Mode Connectivity Upgrade” is now being used by all our clients trading futures in China thanks to a successful upgrade of our EMS (Execution Management System).”
Nguyen adds, “Horizon Software put resources to meet the upgrade requirements by different counters. The CFMMC is now able to collect the local terminal information of Horizon clients trading futures through futures counters in China.”