ETF & Basket Orders

Basket Pricing

Basket compositions can be imported into Horizon in various formats or automatically downloaded from a third-party provider. Horizon provides extensive basket pricing functionalities, such as level 2 market data simulation, currency conversion, status monitoring, consistency checks, management of illiquid constituents and more.

Basket Orders

Trade baskets – manually or using Horizon Extend – by inputting a quantity or an amount to trade. When you need to change the configuration of each leg, you can do it easily from a dedicated user interface with quick access to standard execution strategies. The execution of each leg can also leverage Horizon Scenario Orders and Execution Algos.

Delta-One/ETF Market Making

Issuers and market makers can quote Delta-One products (including ETFs and futures) on multiple depths, while managing spreads and quantities within a single view.

Quoted prices can originate from a variety of sources: other market participant prices, a related instrument, or a calculation using Horizon Basket Pricing features.

Once a trade occurs, the system can automatically hedge its position. For instruments based on baskets – like ETFs – Horizon Portfolio Hedger can decompose the position and perform hedging on all of their constituents.