Shenwan Hongyuan, a ¥43 billion Chinese securities conglomerate, has deployed Itiviti’s market making solution for ETF options. The deal extends Itiviti’s presence in Asia Pacific where it already services 25 buy- and sell-side clients in China.
Zhibin Xu, deputy president at Shenwan Hongyuan, says: “We went through an intensive assessment process to ensure the selected vendor could meet our high compliance and IT standards. During this process Itiviti stood out. We were impressed by its world-class trading technology and the professionalism of its team. We are looking forward to taking advantage of the Itiviti platform to enhance our market making capabilities.”
Itiviti garnered its first set of Tier 1 Chinese securities firms in 2014, by providing an ETF options market making solution. The company then extended the market making platform to commodity options and other asset classes. It is now providing trading and low-latency FIX connectivity solutions to securities firms in China.
Ofir Gefen, president of the APAC region at Itiviti, comments: “Over the years, Itiviti has successfully established a solid, loyal and diversified client base in China by providing its world class trading and execution technology solutions. This is a sophisticated client base, looking for proven solutions to stay ahead of the curve, and we are delighted to partner with Shenwan Hongyuan and affirm our commitment to China as a key market in our Asia Pacific growth strategy.”