BOCI goes live with Horizon for Structured Products RFQ Solution

By Leandra Monteiro

Horizon Software, a provider of electronic trading solutions and algorithmic technology, announced that the Bank of China International (BOCI) has chosen to go-live with Horizon Software’s Structured Products RFQ Solution to maximise efficiency and deliver top automated solutions to their clients.

The aim of this project is to provide BOCI with a system to receive, handle and monitor structured product RFQ requests that come in from clients via both email and messaging systems. As a result, the bank will be able to effectively monitor the different statuses and main characteristics of the RFQs, to price those RFQ requests using BOCI’s Numerix pricer, generate the responses accordingly, and remove manual actions from sales traders. Using Horizon’s sophisticated instruments, such as the vanilla ELN, the accumulators, the barrier, and the range accrual notes will help to reduce the time required to respond to the individual needs of clients. This subsequently allows for the handling of a larger volume of RFQs.

Based in Hong Kong with more than 50 subsidiaries around the world, BOCI provides clients with a full range of investment banking products and services in both mainland China and overseas capital markets, including share issuance, merger and acquisition, bond issuance, fixed income, private banking, private equity, global commodities, asset management, equity derivatives, and leveraged and structured financing.

Andy Tai, Senior Executive IT at BOC International said, “From a tech manager perspective, the software that Horizon provides supports a powerful client-server framework, which allows the BOCI to integrate various internal systems together.  Another key strength of Horizon’s software is the user-friendliness of the GUI, which provides BOCI with various configurable and useful features out of the box.  This development project is the result of a joint effort, and Horizon is a great partner in project management, working to solid deliverables.

Ngai Ho Shum, Deputy Department Head of Equity Derivatives, BOCI also noted that, “The solution provided by Horizon Software has been enhancing the RFQ process over the legacy system, offering our salespeople a smoother user experience. We are looking forward to extending the product scope for the solution moving forward”.

Emmanuel Faure, Head of Sales APAC at Horizon Software, said, “We are honoured to deliver our RFQ solution to BOCI as this marks a key milestone for Horizon in the world of Structured Products. Horizon benefits from a vast experience in supporting clients for structured products and through this new collaboration, BOCI will be able to overcome withstanding technology challenges and deliver the best automated solutions to their clients”.