ION Boosts Trading Accessibility with XTP Execution Integration to Cboe Europe Derivatives

August 5, 2023
by

Key Takeaways:

  1. ION, a global provider of trading and analytics solutions, extends its market reach by integrating its XTP Execution solution with Cboe Europe Derivatives (CEDX).
  2. XTP Execution is a comprehensive solution for cleared derivatives trading, used by Tier 1 banks and global brokers, offering full automation, advanced execution, and unparalleled global market connectivity.
  3. The integration will expand trading opportunities and promote more fluid, screen-led markets for European equity derivatives.
  4. Direct connectivity via XTP Execution is poised to expand CEDX’s footprint across Europe.

About ION

ION is a leading provider of mission-critical trading and workflow automation software, high-value analytics, strategic consulting, and risk management solutions. Serving financial institutions, central banks, governments, and corporates, ION simplifies complex processes, enhances efficiency, and facilitates informed decision-making. ION’s commitment to continuous innovation fosters long-term partnerships with clients, helping them transform their businesses for sustained success.

About ION Markets

ION Markets delivers transformative technology and solutions to financial institutions dealing in asset management, equities, fixed income, FX, cleared derivatives, and secured funding. Their award-winning end-to-end solutions automate the full trade lifecycle, offering tools to manage risk and maximise access to liquidity. Clients are empowered with real-time access to critical information for timely operational decisions and global-scale execution.

Integrating XTP Execution with Cboe Europe Derivatives

In an innovative step, ION has enhanced its XTP Execution solution by providing direct access to Cboe Europe Derivatives (CEDX), a pan-European equity derivatives exchange. As part of ION’s suite of cleared derivatives trading products, XTP Execution is utilised by Tier 1 banks and global brokers, offering a fully automated trade workflow with integrated order management, advanced order execution, and unrivaled connectivity to global markets. The addition of CEDX extends XTP Execution’s market coverage for ION’s customers and their end clients, enhancing trading opportunities.

CEDX currently offers futures and options on key single country and pan-European equity indices, with plans to expand into pan-European single stock options from November 2023, subject to regulatory approvals. The integration of XTP Execution with CEDX promotes connectivity and lowers barriers to entry for the exchange’s customers. This move aligns with CEDX’s objective of promoting larger, more liquid, and screen-led markets for European equity derivatives.

The Impact of the Integration

Francesco Margini, Chief Product Officer for Cleared Derivatives, ION Markets, expressed excitement about this integration. He stated, “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.”

Similarly, Iouri Saroukhanov, Head of European Derivatives, Cboe Europe, voiced his expectations, “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.”

Conclusion

ION’s integration of its XTP Execution solution with Cboe Europe Derivatives represents a significant development in the cleared derivatives trading sector. By expanding its market reach and lowering entry barriers, ION is promoting a more accessible and liquid market for European equity derivatives. As ION continues to develop innovative solutions, the financial sector can look forward to an era of enhanced connectivity, increased trading opportunities, and efficient market operations.

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