ION-owned LIST upgrades FastTrade solution, successfully migrates clients onto Euronext's Optiq trading platform

USA - English

• USA - English

MILAN, April 19, 2023 /PRNewswire/ -- LIST, an ION company, has successfully updated its award-winning market making and trading FastTrade solution, facilitating the migration of Borsa Italiana trading clients onto Euronext's Optiq technology trading platform.

The client migration follows Euronext's acquisition of the Borsa Italiana Cash and Derivatives markets exchange in April 2021. Euronext, the pan-European stock exchange and market infrastructure, is replacing the Borsa Italiana exchange's previous Millennium technology with its cutting-edge Optiq trading platform.

LIST's upgraded FastTrade solution is fully customizable and offers advanced trading functionalities specific to Euronext's Optiq technology trading platform. This includes order collection (OMS) smart order routing, execution algos (for equity and fixed income), risk management, quoting, and pricing. 

To ensure clients migrated successfully, LIST activated new data centers, communication lines, and software versions to support changes in market models and workflows. These initiatives demonstrate LIST's commitment to providing the best possible solutions for Italian financial markets and reaffirm its position as a trusted technology partner. The migration gives Italian trading clients access to a rich international investor base, and an enhanced range of products and services.

"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," says Vito Mangiaracina, Chief Technology Officer at LIST. "Thanks to the dedication, professionalism, and teamwork across LIST, we achieved our goal of migrating our clients, and the trading and surveillance product lines."

"The migration to Optiq presented multiple challenges, including change in the technology stack and new hosting infrastructure," adds Flavio Mazzarotto, Chief Services Officer at LIST. "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."

About ION

ION provides mission-critical trading and workflow automation software, high-value analytics and insights, and strategic consulting to financial institutions, central banks, governments, and corporates. Our solutions and services simplify complex processes, boost efficiency, and enable better decision-making. We build long-term partnerships with our clients, helping transform their business for sustained success through continuous innovation. For more information, visit https://iongroup.com/.

About ION Markets

ION Markets provides transformative technology and solutions to financial institutions dealing in equities, fixed income, foreign exchange, cleared derivatives, asset management, and secured funding. Our award-winning end-to-end solutions simplify clients' operations by automating the full trade lifecycle, providing 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. For more information, visit https://iongroup.com/markets/.

About LIST

An ION company, LIST is a leading financial technology provider to the global trading community, including trading venues, market makers, brokers, asset managers, risk managers, and compliance officers. LIST's innovative 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.

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