BEA is using the Horizon Hosting and Managed Services offering, Horizon said in a statement.

Warrants are a form of derivative. A warrant is a security that entitles the holder to buy the underlying stock of the issuing company at a fixed price called exercise price until the expiry date.

Horizon’s project with the bank happened following BEA's decision to stop outsourcing the market-making of its own issued warrants/CBBCs and handle the process internally. The solution, which went live at the end of May 2020, provides not only software, but also hosting and managed services.