Korea Investment & Securities Asia Limited (KISA), one of the leading Korean securities brokerage houses in Hong Kong, has deployed Horizon Software’s Platform for ETF Market Making connecting to the Hong Kong Stock Exchange (SEHK).
KISA first established a relationship with Horizon in 2019 to market make covered warrants on the Ho Chi Minh Stock Exchange as part of its strategy to expand and upgrade its services across the APAC region. Horizon’s reputation in the region and experience with exchanges in Vietnam made it the perfect choice for KISA.
Due to the success of the relationship, the following year KISA enlisted Horizon Software for ETF market making in October 2020. After 5 months, the project has been completed and successfully went live in March 2021.
This collaboration is in line with the SEHK strategy to develop Hong Kong’s ETF market. The Asia-Pacific index fund market is forecasted to grow from USD1.5 trillion to USD5 trillion over the next five years and the ETF market is expected to grow in tandem, with Hong Kong ideally placed to benefit from this growth.
Jangwon Seo, Executive Director and Head of Global Derivatives at KISA, says: “We are delighted to have successfully implemented Horizon ETF Market Making, which offers a highly efficient, scalable solution to help drive connectivity to SEHK. To reach our ambitions, we need a flexible end-to-end market-making platform. We appreciate Horizon’s professional team and its supports, and we trust the strength of Horizon’s platform particularly its business-coverage, stability, flexibility, and scalability. The successful go-live of our new ETF Market Making platform will support our business growth in ETFs.”
Emmanuel Faure, Head of APAC Sales at Horizon Software, adds: “We are honoured to support KISA’s development in APAC, especially for the market making in Hong Kong. Our software has been the top choice for ETF market making for many years thanks to our long expertise, reliability, complete configuration as well as our ability to offer architecture with a managed service and co-location option. This marks another big step in our journey to transform and digitalise businesses by bringing more innovative services for all our customers across regions. We will continue to develop the next generation of sophisticated platforms to provide our clients a single cross-asset, algo-powered platform for both principal and agency trading.”
