High volume futures commission merchant (FCM), Advantage Futures, has become the latest to migrate its legacy back-office solution to ION’s cleared derivatives trade processing platform, XTP.
Francesco Margini
The move comes as the FCM sought a solution which could provide extensive automation across clearing and settlement workflows.
Joe Guinan, chair and chief executive of Advantage Futures, said: “In the two decades since founding Advantage Futures, we’ve expanded from a small boutique to among the industry’s highest volume clearing firms serving some of the world’s high-volume traders.
“[…] Having successfully completed the migration to ION’s XTP, we now deliver real-time data and automation capabilities, meeting client needs to process ever-growing trade volumes quickly and efficiently.”
XTP offers real-time, post-trade capabilities, providing real-time visibility of positions, commissions, fees, margins, cash flows, and risk.
ION has been investing in its XTP offering, onboarding a rapidly growing number of FCM’s and global banks in recent times.
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Francesco Margini, chief product officer for cleared derivatives at ION Markets, said: “The transition from [Advantage Futures’] legacy back-office solution to XTP was completed in record time, leveraging ION’s established methodology and tools developed to manage large and complex migration projects.
“The Advantage-XTP rollout demonstrates ION’s proven track record in bringing new products to the market and the strong discipline required for a timely and successful delivery to customers.”
Advantage Futures’ client base includes: professional traders, institutional clients, exchange-traded funds, foreign and domestic non-clearing futures brokers, hedge funds, and individual traders.