ION-owned LIST completes third and final phase of migrating clients onto Euronext’s Optiq trading platform

Milan, Italy, 26 March 2024: LIST, an ION company, announces that the third and final phase of migrating its Borsa Italiana clients onto Euronext’s Optiq technology is complete. Following the successful rollout of the equity (March 2023) and bond (October 2023) segments, LIST has successfully migrated its derivatives clients onto the Optiq trading platform.

The 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 Borsa Italiana’s previous Millennium and SOLA technologies with the new Optiq trading platform.

To facilitate the migration of its clients to the new trading technology, LIST upgraded its FastTrade trading solution, offering its clients seamless access to the rich Euronext pan-European ecosystem.

Designed as a low-latency, multi-asset electronic trading system, LIST’s FastTrade modular solution is fully customizable and offers advanced trading functionalities. Its normalized connectivity architecture has allowed for a seamless transition to the Optiq technology that Euronext uses for the Italian derivatives market, minimizing operational risks and transition costs. At the same time, the successful migration gives investors access to a broader range of products and new functionalities unique to the Euronext platform.

This final migration includes new software versions and the further enhancement of data centers and telecommunication infrastructure. Extending the colocation services to support derivatives involved additional complexities to the initial phases completed in March and October 2023. The project entailed a major migration, with the technology and hosting infrastructure changing simultaneously.

“After successfully migrating equities and bond cash markets during 2023, we’re delighted to have now seamlessly migrated the derivatives market for all our clients,” said Vito Mangiaracina, Chief Technology Officer at LIST. “This final step in the extensive project has once again demonstrated our ability to manage complex projects involving multiple stakeholders. I wholeheartedly thank the team for their professionalism and commitment to such a large-scale project.”

“The migration to Euronext Optiq technology for the derivatives market was a challenging and risky project but, thanks to the extraordinary preparation and cooperation of all the involved parties, the project was a great success. It has again demonstrated that LIST is the leading technology provider for financial institutions executing orders on Italian exchanges,” said Flavio Mazzarotto, Chief Services Officer at LIST.