Santander taps Horizon for market making on Polish “consent-free” equity market

Rick Steves

Horizon has been selected to support Santander Brokerage Poland, a subsidiary of Santander Bank, to introduce market makers onto Global Connect. 

Global Connect is a new equity market where global stocks are listed by introducing Market Makers without the issuer’s consent.

Introduced by the Warsaw Stock Exchange (WSE), the new equity market aims to make stocks listed on global securities exchanges tradable in Warsaw, during local reading hours.

Santander is the first liquidity provider to participate in this new market and Horizon’s market-making systems have been deployed on the WSE to cover many asset classes, including equities, equity futures, and index futures.

The relationship between Santander Bank Polska Group and Horizon dates back to July 2019 when it tapped the fintech firm to enable market making in equities and derivatives on the WSE as part of its strategy to expand and upgrade its services.

Horizon also provides Santander with the tools & technology for both quoting and hedging. These solutions ensure efficient access to the market and allow clients to obtain an accurate monitoring of positions.

Introducing new technological standards to the Polish capital market

Daniel Posyniak, Deputy Director at Santander Brokerage House, said: “We are delighted to share information about our advanced trading solution developed in collaboration with Horizon Software. This is an important element of our wide-ranging plans, under which we want to introduce new technological standards to the Polish capital market. Thanks to Horizon, we are in an even better position to achieve the goal of improving the quality of services offered to our existing customers and increasing market share by proposing new products to market participants. The time has come for new technologies to set the rhythm of change”.

Alexandre Chriqui, Head of Client Success at Horizon Software, added: “Thanks to the existing Horizon Market Making platform, participation into the new Global Connect market was possible for Santander without any additional development on the Front Office side. Existing platform composed of Market Data handlers, Pricing and Quoting automatons, WSE Market Gateway and Position Management modules were fully leveraged for a seamless integration of Global Connect. I am proud to write that Santander IT and Trading staff are fully proficient with our platform and they were able to run this project with a high degree of autonomy”.

Horizon’s Market Making caters to banks, and institutional and retail brokers

Horizon provides direct connectivity to more than 80 exchanges worldwide and allows clients to quickly create, test and implement automated trading strategies in real-time.

It was in 2021 that Horizon expanded its Electronic Trading platform to include market making and agency trading functions. Offered in one single platform powered by Horizon’s algo framework, the firm’s Market Making and Algo Trading services leverage its expertise in latency, scalability and expertise in algo and execution strategies to banks and brokers.

The market making and agency trading solution features advanced functionalities in high touch, DMA, DSA and global order routing for equity and global derivatives. This will enable banks and institutional and retail brokers to meet the trading challenges of today and tomorrow.

Horizon stated that clients using their Market Making solution are now expanding towards client order flow and execution through one single platform, optimizing their running cost and implementing cross businesses logic such as Internalization or Central Risk Book.

Horizon’s Managed Services and Hosting is a complementary service that turns the solution into a one-stop shop and takes ownership of upgrades, monitoring, configuration, and full users support.

Read this next

Metaverse Gaming NFT

DCentral Miami brings together all of Web3, NFT, DeFi, Metaverse

The world’s biggest Web3 meeting entitled DCENTRAL Miami is set to take place November 28-29, featuring a lineup of some of the biggest and most influential names in the blockchain space.

Digital Assets

Crypto ban expands across UK banks as Starling joins ‎crackdown

UK digital bank Starling has banned ‎all customer payments related to cryptocurrencies, another blow for the crypto traders ‎who recently saw a sizable number of banks deciding not to ‎finance the wobbly asset class.‎


Markets Direct at FIA EXPO 2022: Traders know what they want from brokers

The FIA Expo 2022, one of the most prestigious events within the global derivatives trading industry, took place in Chicago on 14 & 15 November.


FIA Expo 2022: TNS addresses public cloud limitations with hybrid infrastructure

November is the month of the FIA Expo, one of the largest futures and options conferences in the world, bringing together regulators, exchanges, software vendors, and brokers in one place: the Sheraton Grand Chicago Riverwalk. 

Retail FX

Italy’s regulator blacks out Finance CapitalFX, MFCapitalFX

Italy’s Commissione Nazionale per le Società e la Borsa (CONSOB) has shut down new websites in an ongoing clampdown against firms it accuses of illegally promoting investment products in the country.

Retail FX

Suspected leader of Honk Kong ramp-and-dump scam appears in court

A leader of a sophisticated ramp-and-dump scheme made his first court appearance in a Hong Kong court today, charged with market manipulation and various criminal offences. The case stems from an earlier joint operation of Hong Kong’s financial watchdog, the Securities and Futures Commission (SFC), and the local police. 

Institutional FX

Cboe’s James Arrante discusses growing demand for fixed income, FX algo

We caught up with James Arrante, senior director of FX & US treasuries product and business management at Cboe Global Markets, to uncover emerging trends in the FX and fixed income markets and learn more about the bourse operator’s recent initiatives.

Retail FX

Eurotrader acquires UK broker Petra Asset Management

Eurotrader Group has formally entered into the UK market with the acquisition of FCA-regulated broker, previously named Petra Asset Management Ltd. The new entity operates under the brand name Eurotrade Capital Ltd.

Inside View, Retail FX

The Game of Chess Continues – OPEC, China and the Oil Market

Over the past decade, the US has been complaining about the amount of power which the BRIC group, and specifically China, has on the global economy. BRIC stands for Brazil, Russia, India and China; these were the world’s fastest growing economies. Only in the past 10 months, the US has turned their attention toward OPEC due to the prices of fuel. Nevertheless, China seems to have a strong influence even over the price of crude oil.