LONDON , Oct. 23, 2024 /PRNewswire/ -- ION , a global leader in trading and workflow automation software, high-value analytics and insights, and strategic consulting to financial institutions, central banks, governments, and corporate organizations, announces it has connected to the FMX Futures Exchange (the "Exchange"), which opened on 23 September 2024 . With this connectivity, clients can now trade on the newly launched Exchange through ION's execution and post-trade product suite.
The FMX Futures Exchange is the first US interest rate futures exchange to launch with a fully operational, globally connected, state-of-the-art trading system with potentially enormous capital savings driven by clearing partner LCH's cross-margin capabilities. BGC Group and ten of the world's leading global investment banks and market-making firms announced a partnership in April 2024 to create FMX Holdings, LLC, which includes the Exchange, as well as a rapidly growing spot foreign exchange platform, and the world's fastest-growing US cash treasuries platform. ION supports FMX across its cleared derivatives front-, middle-, and back-office platforms.
This ensures that banks and brokers using ION's technology stack can offer clients advanced execution capabilities and clearing services on the new Exchange from day 1, with minimal effort. Robert Allen , President of FMX Futures Exchange, says, "We are pleased ION connected to the FMX Futures Exchange. The combination of the FMX Futures Exchange .
