ION has expanded its XTP Execution service to provide direct trading accessibility to pan-European equity derivatives exchange Cboe Europe Derivatives (CDEX).
XTP Execution provides a fully automated trade workflow to Tier 1 banks and global brokers, with integrated order management, order execution and global market connectivity made available to users.
Through the connection to CDEX, ION’s clients will benefit from broader market coverage, while CDEX users will gain greater connectivity and lower barriers to entry.
CDEX offers futures and options on key single and pan-European equity indices, and is expected to launch pan-European single stock options from November.
Francesco Margini, chief product officer for cleared derivatives at ION Markets, says: “Trading connectivity to CEDX for XTP Execution customers extends market coverage of our cleared derivatives front-office suite and further consolidates ION Markets’ leading position in the industry.”
Iouri Saroukhanov, head of European derivatives at Cboe Europe, comments: “Direct connectivity through the XTP Execution service will help to increase CEDX’s footprint across Europe ahead of its strategic expansion into single stock options.
“We are excited for ION’s clients to benefit from a transparent, efficient, and truly pan-European equity derivatives market, and to accelerate towards our vision of creating the most complete equity derivatives ecosystem in Europe.”
