Horizon Software, innovative provider of front end trading solutions, today announced the availability of its new DMA to Brazil's BM&FBOVESPA, one of the three largest exchanges in the world by market capitalization.
BM&FBOVESPA is a Brazilian company, created in 2008, through the integration between the São Paulo Stock Exchange (Bolsa de Valores de São Paulo) and the Brazilian Mercantile & Futures Exchange (Bolsa de Mercadorias e Futuros). This is today the most important Brazilian institution to intermediate equity market transactions and the only securities, commodities and futures exchange in Brazil.
Patrick Archer, Head of Sales at Horizon Software, says "Being connected to BM&FBOVESPA is an important step in starting our operations in Brazil and we put a lot of effort to deliver a low latency gateway to support market participants. Horizon Software is one of the few vendors to be certified for both, the entry point for equities and the entry point for derivatives markets."
Horizon Software is the first company to support the next generation order entry APIs Megabolsa EntryPoint (MBEP) that allows seamless migration to the next-generation PUMA Trading System. PUMA provides an improved, unified message specification granting access to multiple market segments such as Equities, Derivatives and Foreign Exchange.
"Our hard work with BM&FBOVESPA has been very successful. This should result in a promising use of our high-frequency trading solutions such as Horizon Algo Trader on this fast-growing market" adds Patrick Archer. This new connectivity solution will give Horizon the opportunity to extend its number of market connections, already covering 35 exchanges at the most important financial centres in Asia, Europe and North America.