ION launces direct access to Cboe Europe Derivatives on its XTP Execution solution
“We’re excited by this opportunity to participate actively in innovative, new market initiatives. Trading connectivity to CEDX for XTP Execution customers extends market coverage of our cleared derivatives front-office suite and further consolidates ION Markets’ leading position in the industry.”
ION has announced the launch of direct access to Cboe Europe Derivatives (CEDX) on its XTP Execution solution, an all-in-one solution utilized by Tier 1 banks and global brokers.
The XTP solution offers fully automated trade workflow with integrated order management, advanced order execution, and connectivity to global markets.
Futures and options on equity indices + single stock options in Nov’23
The addition of CEDX further extends XTP Execution‘s market coverage for ION’s customers and their end clients by offering futures and options on key single-country and pan-European equity indices. CEDX is also expanding into pan-European single stock options from November 2023, subject to regulatory approvals.
ION’s XTP Execution is thus promoting connectivity and lower barriers to entry for the exchange’s customers, as part of its overall mission of providing trading, analytics, treasury, and risk management solutions.
Francesco Margini, Chief Product Officer for Cleared Derivatives, ION Markets, said: “We’re excited by this opportunity to participate actively in innovative, new market initiatives. Trading connectivity to CEDX for XTP Execution customers extends market coverage of our cleared derivatives front-office suite and further consolidates ION Markets’ leading position in the industry.”
Iouri Saroukhanov, Head of European Derivatives, Cboe Europe, commented: “Direct connectivity through the XTP Execution service will help to increase CEDX’s footprint across Europe ahead of its strategic expansion into single stock options. We are excited for ION’s clients to benefit from a transparent, efficient, and truly pan-European equity derivatives market, and accelerating towards our vision of creating the most complete equity derivatives ecosystem in Europe.”
ION’s XTP for Execution, Risk, Analytics, Central Limit, Front-to-Back
XTP is the new brand of ION’s suite of cleared derivatives, offering a full front-to-back product suite harnessing the power of connected data to provide real-time insights into net positions, margins, risk, analytics, commissions, and more.
The cleared derivatives product offering now includes the JANUS risk management and Clarus CHARM analytics solutions, as the firm expands its capabilities in providing workflow automation technology that simplifies operational complexity.
Below, the list of all products included in ION’s suite of cleared derivatives products now under the flagship XTP brand:
- GTP, ION’s front office solution, is now XTP Execution;
- XTP Risk and JANUS Risk Manager have together become XTP Risk JANUS;
- Clarus CHARM has become XTP Analytics;
- JANUS Central Limit is now XTP Central Limits; and
- Front-to-Back has become XTP Front-to-Back Suite.
ION Markets, a subsidiary of ION, is a provider of solutions for financial institutions dealing in equities, fixed income, FX, cleared derivatives, asset management, and secured funding.
Solutions include tools to manage risk, and maximizing access to liquidity while giving real-time access to critical information for timely operational decisions and execution on a global scale.