Q3 2O25 new features spotlight:
advancing trading innovation
At Horizon Trading Solutions, continuous innovation drives our platform forward. Each quarter, we release new features and enhancements designed to improve the user experience and ensure our solution evolves with our clients’ needs.
From expanding agency and principal trading capabilities, to strengthening compliance and execution tools, to introducing integrations that bring greater flexibility and efficiency our goal is to help clients stay ahead in a fast-moving market.
Product highlight
Horizon Trading Solutions has started developing interoperability with external platforms to enhance integration and streamline workflows. The first integration introduced is with the Bloomberg Terminal.
This integration allows users to call a function in Bloomberg directly from Horizon, opening a new Bloomberg Terminal window. The Launchpad integration is also available and can be linked to the Horizon Active View, ensuring seamless data synchronization between the two platforms.
This option requires a Bloomberg Terminal license.
OMS
We are constantly working to enhance the user experience. This quarter, we’ve introduced a new rule engine that makes rule management more intuitive and flexible. In addition to a more user-friendly interface allowing drag and drop to change rule priorities and leveraging our Smart Search component to easily define rule conditions (see our previous newsletter for more details), the new engine includes a versioning of the rules, allowing users to track which rule matched, thus guaranteeing full traceability and compliance. This new rule engine is used for Low-Touch routing rules and High-Touch Auto-Release rules.
We further improved our Low-Touch OMS monitoring capabilities to make it even easier to track your orders:
- Smart Search Integration: The Smart Search feature is now fully integrated with pagination and sorting, making it simpler to navigate large data sets.
- Optimized for High-Volume Orders: The system is now better optimized to handle very large volumes of orders, ensuring smooth and efficient performance even in high-pressure environments.
- Child Order View: A new child order view has been added, which is particularly useful for monitoring child orders generated by our newly released Smart Order Router (SOR). This enables you to track all child orders produced by any slicer in real time.
Low-Touch OMS features have also been enriched with the new XFlow component. XFlow manages a breath of added-value low-touch features like Exception Management (catching and dealing with rejects), re-routing, manual trades, trader modification, etc. It makes the most of the Child Order View to display the corresponding market legs for a client order that has been touched by an Electronic Trader.
We made improvements to the Order Dialog, first introduced in previous releases. This feature now benefits from an upgrade powered by Horizon Extend, allowing you to script your order dialog exactly the way you want it. You may want to display a custom data feed or pre-trade TCA as a widget in the Order ticket, implement specific checks against a third-party system before sending the order, or simply default values in the ticket with your own custom logic.
Order Templates are static or dynamic presets that allow populating fields of an order in just one step. Templates can be defined to quickly send a VWAP Passive over the next 3 hours, for example. They are accessible as shortcuts (buttons) but can also be automatically applied as part of routing/autorelease rules.
The Template Editor has been enhanced to offer greater flexibility, enabling you for example to add smarter fallback strategies and create new templates more easily. The result is a more customizable, user-friendly experience when managing your order executions (to speed up process thanks to pre-filled order instructions).
The OMS Auto-release (aka Care Automation) feature allows users to create rules that automate the order flow for high-touch orders that are small or liquid enough to be released directly to the market. Traders still have full control over these orders but can focus on higher-value flow. Algo instructions can be automatically attached to auto-released orders thanks to the improved Order Template feature.
Horizon Trading Solutions has enhanced its risk and position management features to provide greater oversight and flexibility. Positions are now calculated by client or by account, covering both DMA and high-touch flow. The functionality is compatible with the existing portfolio booking, ensuring smooth integration into existing workflows.
A new safety dashboard has also been introduced, giving users quick access to all pre-trade risk rules set up for different clients. These rules can be reviewed and edited directly within the dashboard, improving efficiency and simplifying day-to-day monitoring.
Market Making
Spread calculation can vary depending on instruments, trader preferences, and strategies, often making it difficult to explain how the final bid/ask spread is derived on a single screen.
With our new, easily accessible Spread Explanation Window, traders can now follow each step of the spread construction process: from the theoretical price, through user-defined spread adjustments and shifts, all the way to the final calculated spread including the widest spread, market spread, and result.
This view provides full transparency and enables both traders and support teams to export the data easily for further analysis or reporting.
In today’s volatile markets, where prices can change rapidly and frequently, staying competitive means responding in real time. Our new throttling enhancements enable you to continuously update quotes without waiting for acknowledgement of the previous one, Simultaneously, a mechanism holds quotes in a queue and only releases the most recent one, optimizing throttling and minimizing the number of messages sent per second in compliance with exchange regulations.
This capability has been rolled out for a few selected markets and is available on request for others.