Sigma Broking taps ION’s XTP Execution for commodities trading on the LME
“A core pillar of my strategic growth plan for Sigma is the implementation of best-in-class systems to provide our clients with seamless execution. Sigma Broking is one of only eight Category 1 Ring Dealing members on the LME; ION’s XTP Execution further strengthens our front-office execution capabilities and infrastructure for trading commodities on the LME.”
Sigma Broking has enhanced its partnership with ION, enabling its customers to route orders to the London Metal Exchange (LME) more efficiently.
Sigma, known for its brokerage services to institutional clients, will now incorporate ION’s XTP Execution suite (XTP-E) into its offerings. This suite is recognized for its effectiveness in executing listed derivatives trades.
Sigma is one of only eight Category 1 Ring Dealing members on the LME
Established in 2008, Sigma has expanded into multiple asset classes, including commodities and global equity execution. It became a Category 1 Ring Dealing member of the LME in 2022, marking a significant milestone in its growth.
Sigma’s clientele includes investment banks, base metals producers and consumers, hedge funds, and portfolio managers. The company prides itself on providing access to major exchanges and products, along with custom hedging strategies and execution services.
Gary Pettit, CEO of Sigma Broking Ltd, said: “A core pillar of my strategic growth plan for Sigma is the implementation of best-in-class systems to provide our clients with seamless execution. Sigma Broking is one of only eight Category 1 Ring Dealing members on the LME; ION’s XTP Execution further strengthens our front-office execution capabilities and infrastructure for trading commodities on the LME.”
ION, with its leading software for order routing to the LME, offers automated services to both retail and institutional firms globally. The XTP-E suite is notable for its precision and support for advanced risk management and business expansion. ION offers solutions for trading, workflow automation software, analytics, and strategic consulting. ION Markets, a branch of ION, provides technology and solutions across multiple financial sectors, offering automation and risk management tools to simplify operations and improve liquidity access.
ION rebranded its cleared derivatives suite to XTP
It was in 2022 that ION rebranded its cleared derivatives product offering after the addition of the JANUS risk management and Clarus CHARM analytics solutions. 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.
Last year, ION launched direct access to Cboe Europe Derivatives (CEDX) on its XTP Execution solution. The all-in-one solution utilized by Tier 1 banks and global brokers offers fully automated trade workflow with integrated order management, advanced order execution, and connectivity to global markets.
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 expanded into pan-European single stock options in November 2023.
