Oysters with Scarlett Sauce

1 1/2 cups of red wine vinegar
4 tablespoons of finely chopped shallots
2 tablespoons of freshly grated horseradish
1/4 cup of minced parsley
3/4 teaspoon of cracked black pepper
1/4 teaspoon of cayenne pepper
4 dozen oysters
Parsley
Lemon wedges