# Introduction Horizon is a synthetic trading exchange designed to allow users to speculate on the price movements of various assets without owning the underlying assets themselves. Instead of buying or selling physical or digital assets, users enter into contracts that track asset prices, enabling exposure to markets like stocks, commodities, cryptocurrencies, or indices. The exchange operates through a system of smart contracts (or centralized clearing, depending on implementation) that handle trade execution, collateral, and settlement. Prices are typically derived from the average of external market data sources. Users provide collateral to open positions and are subject to margin requirements and liquidations if their positions move against them. The goal of this exchange is to offer transparent, efficient, and flexible access to global markets without requiring custody of actual assets, making it accessible to a wider range of participants, and allowing the eventual fractional ownership of such. --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://horizon-whitepaper.gitbook.io/horizon/readme.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.