Technology provider Horizon announced on Thursday that it has been chosen by Gedik Investment to provide the Turkish brokerage with market making and trade execution solutions.
“Gedik Investment clearly has a very focused and dedicated team of trading professionals; its ambition is to be the best performer in the market and to provide FX futures market making on Borsa Istanbul,” said Damien Jenner, a managing director and senior sales associate in Horizon’s EMEA and Americas sales team.
Though it may not be the most famous firm in the world, in Turkey Gedik Investment is hot stuff.
The brokerage, whose parent company Gedik Investment Holding is listed on the Istanbul Bursa, has consistently been quick to adopt new technology.
For instance, it was the first trading firm in Turkey to use a remote access API, access the Derivatives Exchange of Turkey and gain FIX access to the Borsa Istanbul equities and futures/options market.
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New solutions, old partnership
Based in Istanbul, the company already has an existing partnership with Horizon.
The brokerage uses the technology company’s solutions for algorithmic trading, hedging and market making in a number of different derivatives markets.
Alongside new trade execution services, the most recent deal between the two companies will be used to support Gedik’s futures trading activities.
“Over the last 25 years, Turkish capital markets have made immense headway and undergone a real transformation,” said Salim Kasap, head of futures trading at Gedik.
“Gedik has actively taken part in this transformation. We are proud of our role in developing the capital markets in Turkey and have worked to create sustainable added value with diversification of financial product offerings.”