Instantia, the Australia-based FX payments company, has selected ION Foreign Exchange (FX) for trade execution, trade management, risk, and settlement management for its FX business.
The digital FX provider offering a client-centric way to manage currency exchange, FX strategies, and cross-border payments, chose the ION FX solution for its end-to-end processing functionality of FX cash and derivative products, including trade execution and risk management.
Instantia has leveraged ION’s APIs to develop custom client- and dealer-facing user interfaces to enhance the user experience.
Currency hedging positions in a user-friendly interface for APAC markets
Richard Poulton, CEO at Instantia, said: “We are excited to partner with ION to offer our clients robust FX processing capabilities. This partnership is crucial as it will help us revolutionize FX by consolidating currency hedging positions into a user-friendly interface and expand into other APAC markets.”
Alex Pirmohamed, Chief Product Officer at ION Markets (FX), commented: “We are pleased that Instantia chose ION FX for its trade execution and risk management needs. ION Markets FX is strategically positioned to address the diverse needs of FX market participants.
“The ION FX end-to-end solution uniquely suits institutions providing FX services for cross-border payments, and FX risk management. Our platform’s robust functionality facilitated Instantia’s quick time to market, and we remain dedicated to supporting their ambitious objectives.”
ION’s FastTrade added Cboe Europe’s dark pools
Last week, ION’s Smart Order Routing system, FastTrade, enhanced its services by adding new equity trading mechanisms from Cboe Europe.
Customers of LIST can now access Cboe’s Dark and Periodic Auction Books, which are the largest in their categories, alongside existing connectivity to the exchange’s Lit Order Books. This upgrade also introduces sweep functionality, allowing clients to access multiple Cboe order books with a single order, potentially improving size and price opportunities.
Cboe Europe is the leading pan-European stock exchange by value traded and market share, providing access to stocks from 15 European countries. It offers an extensive range of trading services tailored to meet execution needs for speed, size, and price improvement.
Additionally, LIST’s customers will benefit from Cboe’s new retail-focused tariff for its Lit, Dark, and Periodic Auctions Books, which offers free executions for retail-attested orders sent directly by retail brokers. Cboe plans to launch a retail liquidity provider solution in early 2025, pending regulatory approvals.
