ION, a global leader in trading and risk management solutions, has announced that Advantage Futures, a prominent futures commission merchant (FCM), has successfully transitioned to ION’s XTP platform for cleared derivatives trade processing. This move marks a significant step for Advantage Futures, which handles a massive volume of contracts – over 5.3 billion since its inception in 2003 – serving a diverse client base including professional traders, institutional clients, hedge funds, and individual traders.
Known for its reliable connectivity to exchanges worldwide, execution services, and commitment to advanced technology, Advantage Futures previously relied on a decades-old post-trade platform. However, the firm recognized the need for a more flexible and modern solution that could provide extensive automation across clearing and settlement workflows. This is where ION’s XTP comes into play.
XTP will empower Advantage Futures to scale its business even further, creating a more efficient and unified experience for clients. They will enjoy real-time visibility into positions, commissions, fees, margins, cash flows, and risk – essential insights for informed decision-making. ION’s continuous investment in XTP has attracted a growing number of FCMs and global banks, solidifying its position as a leading platform for the industry.
Joe Guinan, Chairman and CEO of Advantage Futures, emphasized the importance of this migration, stating, “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. As we continue to scale the business, we prioritize giving clients best-in-class, customized technology to seamlessly navigate an increasingly complex market. 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.”
Francesco Margini, Chief Product Officer for Cleared Derivatives at ION Markets, expressed his satisfaction with the partnership, highlighting the smooth transition from Advantage Futures’ legacy system to XTP. “The transition from their 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,” he said. “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.”
This partnership exemplifies the increasing demand for advanced technology solutions in the financial industry. By leveraging ION’s XTP platform, Advantage Futures is poised for continued growth and success, offering its clients a superior trading experience in today’s dynamic market landscape.
