Horizon Announces DMA for BM&FBOVESPA
Horizon Software has announced that it will provide low-latency direct market access (DMA) to BM&FBOVESPA, Brazil's largest stock exchange.
Horizon will use the new Megabolsa EntryPoint (MBEP) application program interface (API) to connect to Puma, the exchange's trading system. The API will allow for high-frequency trading activity through its Algo Trader product. BM&FBOVESPA is the only combined securities, commodities and futures exchange in Brazil, having formed through a merger of the Brazilian Mercantile and Futures Exchange, and the São Paolo Stock Exchange in 2008. It is the third largest exchange in the world by market capitalization.
"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," says Patrick Archer, head of sales at the vendor. "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."
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