Enrico Melchioni

The development follows the successful migration of LIST’s Borsa italiana client onto Euronext’s Optiq technology earlier this year.

Read more: LIST completes migration to Euronext’s Optiq

LIST’s FastTrade modular solution is designed as a low-latency, multi-asset electronic trading system, offering full customisation and trading functionalities.

The platfom’s normalised connectivity architecture enables integration of LuxSE that uses Euronext’s Optiq technology.

“Following the successful migration of our clients to the Optiq trading platform earlier this year, we are delighted to share FastTrade’s newly certified connectivity to the Luxembourg Stock Exchange,” said Enrico Melchioni, product owner for FastTrade at LIST.

“This latest initiative reflects our commitment to swift adaptation in line with the market’s evolution and our clients’ needs and consolidates our position as a key provider of cross-asset, multi-market trading technology and connectivity.”

Through the activation of a new certified adapter in FastTrade, LIST offers clients the ability to access all products listed on LuxSE across all asset classes.

All existing functionalities, namely: trading, execution, and liquidity provision, are made available automatically to clients wanting to access LuxSE.

This will enable clients deploying FastTrade to benefit from an expanded connectivity base, alongside the ability to grow their trading capability.

“This marks an important step in bringing increased visibility to the wide range of securities available for trading at the Luxembourg Stock Exchange and facilitate the onboarding of new trading members,” said Guy Weymeschkirch, head of markets and surveillance at LuxSE.

“We look forward to reinforcing our work and collaboration with LIST in the future.”

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Through this move, Euronext is replacing Borsa Italiana’s previous Millennium and SOLA technologies with the new Optiq trading platform. 

Vito Mangiaracina

The move comes after Euronext’s acquisition of the Borsa Italiana cash and derivatives markets exchange in April 2021. The third and final phase follows the successful rollout of the equity and bond segments, prior to this most recent migration of its derivatives clients.

Vito Mangiaracina, chief technology officer at LIST, said: “After successfully migrating equities and bond cash markets during 2023, we’re delighted to have now seamlessly migrated the derivatives market for all our clients.

“This final step in the extensive project has once again demonstrated our ability to manage complex projects involving multiple stakeholders. I wholeheartedly thank the team for their professionalism and commitment to such a large-scale project.”

LIST’s FastTrade modular solution is a low-latency and multi-asset electronic trading system.

The transition to Optiq is set to minimise operational risks and transition costs as well as providing investors with access to a broader range of products and new functionalities.

Flavio Mazzarotto, chief services officer for LIST explained: “The migration to Euronext Optiq technology for the derivatives market was a challenging and risky project but, thanks to the extraordinary preparation and cooperation of all the involved parties, the project was a great success. It has again demonstrated that LIST is the leading technology provider for financial institutions executing orders on Italian exchanges.”

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The move follows a successful rollout of the equity segment in March. LIST has upgraded its FastTrade trading solution to accommodate the migration of Italian bond markets to the new platform, providing Italian sell-side clients increased access to international investor bases.

LIST’s FastTrade solution is fully customisable and offers improved trading capabilities, developed to handle the migration of Italian bond markets managed Borsa Italiana to Euronext’s Optiq technology.

FastTrade has provided a transition of Italian bond market clients, offering Italian investors increased access to a range of products, alongside enabling the marketplace to trade on an integrated platform.

“After successfully migrating equities markets earlier in the year, we’re delighted to have now migrated bond market trading seamlessly for our clients,” said Vito Mangiaracina, chief technology officer at LIST.

“[…] It demonstrates LIST’s ability to manage complex projects when supporting our clients and the wider financial community in the transition to a new technology.”

The migration also brings new software versions, aiding with changes in market models and workflows, as well as a redesign and implementation of new data centres and telecommunication infrastructure.

The migration follows Euronext’s acquisition of the Borsa Italian Cash and Derivatives markets exchange in April 2021. Euronext is replacing previous Millennium technology used by the Borsa Italiana exchange with a new Optiq trading platform.

Read more: European Commission approves Euronext Borsa Italiana acquisition

“While the migration to Euronext Optiq technology for the bond markets came with challenges, thanks to the detailed preparation and cooperation of all the involved parties, the migration was a great success,” said Flavio Mazzarotto, chief services officer at LIST.

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