ION’s LIST readies FastTrade solution for Euronext’s Optiq trading platform
The update follows Euronext’s acquisition of the Borsa Italiana Cash and Derivatives markets exchange in April 2021. Euronext is replacing the Borsa Italiana exchange’s previous Millennium technology with its cutting-edge Optiq trading platform.
ION has announced that its trading technology subsidiary LIST has upgraded its market-making and trading FastTrade solution, facilitating the migration of Borsa Italiana trading clients onto Euronext’s Optiq technology trading platform.
LIST’s upgraded FastTrade solution offers advanced trading functionalities specific to Euronext’s Optiq technology trading platform, including order collection (OMS), smart order routing, execution algos (for equity and fixed income), risk management, quoting, and pricing.
LIST processes over 65% of equity order flows from Italian market members
The update follows Euronext’s acquisition of the Borsa Italiana Cash and Derivatives markets exchange in April 2021. Euronext is replacing the Borsa Italiana exchange’s previous Millennium technology with its cutting-edge Optiq trading platform.
For a successful client migration, LIST activated new data centers, communication lines, and software versions to support changes in market models and workflows.
Vito Mangiaracina, Chief Technology Officer at LIST, said: “With LIST technology processing over 65% of equity order flows from Italian market members daily, it was crucial that our FastTrade upgrade and deployment enabled a seamless transition to Euronext’s Optiq platform. This required a huge amount of development and included a major software release. Thanks to the dedication, professionalism, and teamwork across LIST, we achieved our goal of migrating our clients, and the trading and surveillance product lines.”
Flavio Mazzarotto, Chief Services Officer at LIST, commented: “The migration to Optiq presented multiple challenges, including change in the technology stack and new hosting infrastructure. We developed this carefully alongside our clients, from detailing the migration roadmap to supporting them during preliminary test phases. Our efforts paid off on migration day; our clients went live on the new system with zero impact on activity on other markets.”
LIST is an ION company that caters to the global trading community, including trading venues, market makers, brokers, asset managers, risk managers, and compliance officers.
LIST provides turnkey products and delivery, driven by customers’ needs, together with a skilled, and determined young team play a key role in supporting successful business growth in today’s volatile times. Continuous innovation and client partnerships around the globe have built trust and reliance on LIST’s unique real-time and data analytics capabilities.
