Financial technology provider LIST, an ION company, has upgraded its market making and trading solution FastTrade, allowing for the completion of the migration of Borsa Italiana trading clients to Euronext’s Optiq technology trading platform.
Euronext acquired Borsa Italiana’s cash and derivatives market exchange in April 2021, and is in the process of replacing the exchange’s Millenium technology with Optiq.
FastTrade is providing customised trading functionalities to Optiq, including smart order routing, execution algorithms for equity and fixed income and risk management.
Following the migration, clients will have access to an international investor base and a wider range of products and services. To execute the process, LIST activated new data centres, communication lines and software versions to support changes to market models and workflows.
Flavio Mazzarotto, chief services officer at LIST, says: “The migration to Optiq presented multiple challenges, including change in the technology stack and new hosting infrastructure. We developed this alongside our clients, from detailing the migration roadmap to supporting them during preliminary test phases. Our clients went live on the new system with zero impact on activity on other markets.”
Vito Mangiaracina, chief technology officer at LIST, adds: “With LIST technology processing over 65 per cent 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."
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