Zhengzhou Commodity Exchange chooses Luzheng Futures and Guohai Liangshi Capital Management to provide market making for cotton options

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PARIS, FRANCE & SHANGHAI, CHINA�-�Media
OutReach�-�17
May 2019 -�Horizon
Software (Horizon), the leading provider
of electronic trading and algorithmic technology, has announced that two of its
Chinese clients, Luzheng Futures and Guohai Liangshi Capital Management, have
been named among ten companies granted market making licenses for the
recently-launched cotton options market on the Zhengzhou Commodity Exchange
(ZCE). The new cotton options market in China is the second exchange-traded
commodity option on the ZCE and the fifth commodity option in Mainland China.

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Adrien
Mastronardi, Head of Sales APAC at Horizon Software, said: "It is such a great
honor to see our Chinese clients selected as part of this project by the
ZCE.� China is a leading participant in
the world cotton market with some unique market dynamics. Luzheng
Futures has been using Horizon for soymeal options market making on the Dalian
Commodity Exchange (DCE) since 2017. In September 2018, Luzheng Futures and
Guohai Liangshi Capital Management were selected as market makers for copper
options on the Shanghai Futures Exchanges (SHFE) with Horizon platform. In
2019, Guohai Liangshi Capital Management and Luzheng futures expanded their
business using our platform for options market making for cotton on the
Zhengzhou Commodity Exchange (ZCE).

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He added: "This project is a major step in China's
long-term efforts to develop its derivatives markets. Our mission is to support
our clients' market making activities with extensive functionality as well as
outstanding stability and security. We consider this selection a great achievement
for the Horizon Team."

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Horizon
has been empowering capital market players for over two decades by building
powerful algorithmic technology into its electronic trading platform and
offering trading opportunities through direct connectivity to more than 80
exchanges worldwide. Horizon enables clients to quickly create, test and
implement automated trading strategies in real-time, in line with its 'Trade
Your Way' philosophy.� Its platform can
be easily integrated with rich APIs and allows proprietary strategies to be
built while keeping traders' code confidential.