Horizon Trading Solutions launches smart order router
Horizon Trading Solutions, a global leader in electronic trading solutions and algorithmic technology for capital markets, is launching a transformative Smart Order Router (SOR) - Horizon Compass - to enable institutional and retail brokers to achieve optimal execution and high performance in a rapidly evolving market landscape.
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With legacy SOR solutions filling the market, Horizon's new SOR is purpose-built to address current market dynamics, allowing large and small institutional and retail brokers to efficiently navigate liquidity fragmentation and high trading volumes with no downtime. Horizon Compass ensures accurate and timely pricing in over 80 trading venues Horizon is connected into. Integration of the SOR also allows for effortless compliance with global best execution regulations, such as MiFID II and Reg NMS, facilitated by real-time visibility, traceability, and performance monitoring. With increasing participation in alternative venue types, the SOR interacts not only with lit markets, but with dark pools, conditional orders and more.
Horizon's SOR is built on Aeron, a low-latency, high throughput messaging platform. This foundation establishes a resilient platform that can scale and adapt efficiently to high volumes. As market volatility shows no signs of slowing, this offering allows brokers to source liquidity from their algos to manage the substantial growth in trading volumes.
The integration of the SOR and Horizon's existing algorithmic trading framework, which includes access to off-the-shelf algorithms and integration of ones developed in-house, is transformative for brokers. It establishes a tech architecture that is flexible and efficient, without the need to independently build a bespoke solution or use a third party SOR. It also enables these firms to benefit from full control over the execution process and meet exact client requirements. This flexibility and improved execution quality will allow regional brokers to increase their market share and compete against the offerings of larger players.
Yannick Martin, Head of Agency Trading Product, Horizon Trading Solutions, said, 'Horizon Compass is a ready-to-deploy Smart Order Router that gives you the performance of a custom-built solution, without the complexity, cost, or delays of in-house development. Unlike in-house SORs that take years to mature, Horizon Compass is proven, and latency-optimized. It's built to meet your execution goals today and flexible enough to evolve with your future needs.'
Sylvain Thieullent, CEO, Horizon Trading Solutions, added, 'Our innovative new SOR, Horizon Compass, is a crucial milestone in the progression of our agency trading offering. Horizon's global client base of institutional and retail brokers can now benefit from optimal execution, premier liquidity provision, and streamlined regulatory compliance all within one platform.'
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