ION has connected to the FMX Futures Exchange, which opened on 23 September 2024, meaning clients can now trade on the newly launched exchange through ION’s execution and post-trade product suite.
BGC Group and ten global investment banks and market-making firms announced a partnership in April 2024 to create FMX Holdings, which includes the exchange, as well as a spot foreign exchange platform, and a US cash treasuries platform. ION supports FMX across its cleared derivatives front-, middle-, and back-office platforms.
Robert Allen, president of FMX Futures Exchange, says, “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 derivatives, ION Markets, says, “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.”
©Markets Media Europe 2024
