ION has launched XTP Spark, a turn-key trade processing solution for cleared derivatives. Based on the company’s XTP solution, it is a faster, simpler version of the existing product, ION says.
The solution offers real-time clearing and settlement, enabling top-day processing. By streamlining and automating workflows and producing a strong control framework, unnecessary manual processes are removed, Ion adds.
XTP Spark is designed for banks, brokers, commodity trading firms and niche clearers who are beginning to make the transition to digital, providing efficient and compliant back-office functionality.
The introduction of XTP Spark follows the launch of Ion’s new Compliance SaaS solution, evolved from the hosted compliance solution the company implemented in 2014.
ION’s Compliance SaaS solution enables real-time oversight of pre-and post-trading, and offers full coverage of asset types, with an automated compliance checking process and investment transparency.
Commenting on the launch of XTP Spark, Francesco Margini, chief product officer for cleared derivatives at ION Markets, says: “We believe advanced back-office automation should be accessible to everyone. That is why we have created XTP Spark.
“It is a powerful, out-of-the-box solution offering comprehensive back-office functionality. Users can spin up XTP Spark in weeks, transforming their back-office complexity into simplicity, for good.”
