ION Enhances Connectivity with MIAX Futures Onyx Trading Platform

ION's New Partnership with MIAX Futures Onyx

ION, a global leader specializing in trading and workflow automation software, is set to support seamless connectivity to the innovative MIAX Futures™ matching engine, known as Onyx. This strategic collaboration places ION at the forefront of enhancing access to financial markets, particularly for trading Minneapolis Hard Red Spring Wheat (Minneapolis HRSW) Futures. As MIAX Futures transitions its flagship product from CME Globex to Onyx in the upcoming months, users can expect a major upgrade in trading efficiency and technology.

Seamless Connectivity for Enhanced Trading Experience

With the integration of Onyx, ION will provide day-one connectivity essential for traders who wish to access the Minneapolis HRSW Futures. This transition is anticipated during the second quarter of the year, leading to more streamlined trading processes. The move signifies not just an upgrade in the trading environment but also ensures that ION users can benefit from easier access to a variety of options in the futures market.

Introducing the Bloomberg 500 (B500) Index Futures

Furthermore, ION will facilitate the trading of the upcoming Bloomberg 500 Index futures, which MIAX Futures plans to introduce in the second half of the year, pending necessary approvals from the Commodity Futures Trading Commission (CFTC). This new product launch reflects MIAX Futures' commitment, in collaboration with ION, to offer traders enhanced futures products while ensuring robust trading operations.

Innovative Technology Behind Onyx

The Onyx platform is designed using proprietary MIAX® technology optimized for multiple platforms that cater to trading both agricultural and financial futures and options on futures. This innovative platform equips users with advanced trading tools and capabilities necessary for navigating today's complex financial landscape.

Benefits of ION's Advanced Trading Solutions

ION’s technology stack will play a pivotal role in supporting Onyx across its cleared derivatives front-office trading platform. With minimal effort, banks and brokers utilizing ION’s solutions can access execution and clearing services seamlessly, making it easier than ever to engage in futures trading.

Thoughts from Industry Leaders

Troy Kane, President of MIAX Futures, emphasizes the importance of this collaboration, stating, "MIAX Futures is committed to providing our clients with efficient and reliable access to our markets. Through this collaboration with ION, we're ensuring traders can seamlessly trade the flagship Minneapolis HRSW Futures when it migrates to MIAX Futures in 2Q25 and also have access to new B500 products, which we anticipate launching later this year."

Francesco Margini, Chief Product Officer for Cleared Derivatives at ION Markets, adds, "MIAX Futures' collaboration with ION demonstrates our central role in delivering mission-critical solutions to the cleared derivatives industry. MIAX Futures members will be able to leverage, from launch date, the extensive advanced trading capabilities of our global EOMS platform, including our flagship algo suite." This collaboration indicates a bright future for trading in derivatives.

About ION

ION is dedicated to providing mission-critical trading software, workflow automation solutions, valuable analytics, and strategic consulting services to financial institutions, central banks, governments, and corporations. Their offerings aim to simplify complex processes, boost operational efficiency, and empower informed decision-making. With a commitment to building long-term partnerships, ION continues to transform its clients' businesses through ongoing innovation.

About ION Markets

ION Markets focuses on delivering transformative technology and solutions to financial institutions engaged in various markets, including equities, fixed income, foreign exchange, cleared derivatives, asset management, and secured funding. Their award-winning end-to-end solutions promote operational efficiency by automating the entire trade lifecycle and equipping clients with essential tools for managing risk and maximizing liquidity.

Frequently Asked Questions

1. What is the MIAX Futures Onyx platform?

The MIAX Futures Onyx platform is a new matching engine developed to facilitate trading in various futures markets, including agricultural and financial products.

2. How does ION contribute to MIAX Futures?

ION provides essential connectivity and advanced trading solutions that enhance the trading experience on the MIAX Futures platform.

3. When is the transition to Onyx expected to happen?

The transition to the Onyx platform for trading Minneapolis HRSW Futures is anticipated in the second quarter of the coming year.

4. What new products will be available on MIAX Futures?

MIAX Futures plans to introduce the Bloomberg 500 (B500) Index futures in the second half of the year, pending regulatory approvals.

5. How does ION ensure a seamless experience for traders?

ION's advanced technology stack allows for smooth execution and clearing services with minimal effort, ensuring that traders can efficiently navigate their operations.

About The Author

Dominic Sanders here, a writer and financial specialist committed to helping my readers understand the world of finance. Having a strong financial background and a lot of experience, I concentrate on using my blog posts and articles to translate difficult financial subjects into understandable, doable advice. My goal in writing is to arm you with the information and skills need to make wise financial choices.

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