ION connects to newly launched FMX Futures Exchange to support execution and post-trade clearing
LONDON – 23 October 2024: ION, a global leader in trading and workflow automation software, high-value analytics and insights, and strategic consulting to financial institutions, central banks, governments, and corporate organizations, announces it has connected to the FMX Futures Exchange (the “Exchange”), which opened on 23 September 2024. With this connectivity, clients can now trade on the newly launched Exchange through ION’s execution and post-trade product suite.
The FMX Futures Exchange is the first US interest rate futures exchange to launch with a fully operational, globally connected, state-of-the-art trading system with potentially enormous capital savings driven by clearing partner LCH’s cross-margin capabilities. BGC Group and ten of the world’s leading global investment banks and market-making firms announced a partnership in April 2024 to create FMX Holdings, LLC, which includes the Exchange, as well as a rapidly growing spot foreign exchange platform, and the world’s fastest-growing US cash treasuries platform.
ION supports FMX across its cleared derivatives front-, middle-, and back-office platforms. This ensures that banks and brokers using ION’s technology stack can offer clients advanced execution capabilities and clearing services on the new Exchange from day 1, with minimal effort.
Robert Allen, President of FMX Futures Exchange, says, “We are pleased ION connected to the FMX Futures Exchange. The combination of the FMX Futures Exchange with LCH will provide clients with choice, innovative execution technology, and potentially significant cross-margin capabilities.”
Francesco Margini, Chief Product Officer for Cleared Derivates, ION Markets, says, “We are always very pleased to support new major exchange initiatives. The joint effort with FMX Futures Exchange demonstrates once again the effectiveness of ION’s front-to-back product strategy: the powerful combination of modern, integrated solutions across execution and clearing removes the technical barriers often hindering market readiness and participation.”
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ION Group 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 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 required for timely operational decisions and execution on a global scale. For more information, visit https://iongroup.com/markets/.