Borsa Italiana successfully migrates derivatives markets to Euronext with ION’s LIST
“After successfully migrating equities and bond cash markets during 2023, we’re delighted to have now seamlessly migrated the derivatives market for all our clients. This final step in the extensive project has once again demonstrated our ability to manage complex projects involving multiple stakeholders. I wholeheartedly thank the team for their professionalism and commitment to such a large-scale project.”
LIST, under the umbrella of ION, has completed the final stage in transitioning Borsa Italiana clients to Euronext’s Optiq technology platform.
This marks the culmination of a phased migration effort, with equity and bond segments previously transitioned in March and October 2023, respectively.
This strategic move follows Euronext’s acquisition of Borsa Italiana’s Cash and Derivatives markets in April 2021, aiming to replace outdated Millennium and SOLA technologies with the modern Optiq trading platform.
LIST’s FastTrade trading solution used to integrate into Euronext’s Optiq
To ensure a smooth transition for its clients, LIST enhanced its FastTrade trading solution, enabling effortless integration into Euronext’s expansive pan-European ecosystem. FastTrade, known for its low latency and multi-asset capabilities, is designed to be highly customizable and offers superior trading functions. This upgrade facilitated a smooth switch to Optiq, significantly reducing operational risks and costs while expanding investors’ access to a wider range of products and novel features offered by the Euronext platform.
The final phase of this migration involved updating software and improving data centers and telecommunication infrastructure to accommodate derivatives trading, adding layers of complexity beyond the initial phases. This comprehensive migration involved simultaneous updates to technology and hosting infrastructure.
ION Markets offers cutting-edge technology and solutions across multiple financial domains, including asset management, derivatives, equities, and more, simplifying operations through automation and providing critical real-time information for operational decisions and global execution.
LIST, a part of ION, serves the global trading community with innovative financial technology solutions. Catering to a diverse clientele, including market makers, brokers, and compliance officers, LIST emphasizes customer-driven products, continuous innovation, and global partnerships, establishing itself as a trusted provider of real-time and data analytics capabilities.
LIST, a fintech for executing orders on Italian exchanges
Vito Mangiaracina, Chief Technology Officer at LIST, said: “After successfully migrating equities and bond cash markets during 2023, we’re delighted to have now seamlessly migrated the derivatives market for all our clients. This final step in the extensive project has once again demonstrated our ability to manage complex projects involving multiple stakeholders. I wholeheartedly thank the team for their professionalism and commitment to such a large-scale project.”
Flavio Mazzarotto, Chief Services Officer at LIST, commented: “The migration to Euronext Optiq technology for the derivatives market was a challenging and risky project but, thanks to the extraordinary preparation and cooperation of all the involved parties, the project was a great success. It has again demonstrated that LIST is the leading technology provider for financial institutions executing orders on Italian exchanges.”
