MIAX Futures Onyx to Get Day-One Support from ION
ION has announced its support for connectivity to MIAX Futures Onyx. The aim of this collaboration is to enhance trading efficiency and access to MIAX Futures’ new matching engine.
Highlights of the Collaboration
ION will provide day-one connectivity to MIAX Futures Onyx. This integration will enable seamless access to MIAX Futures’ flagship product, Minneapolis Hard Red Spring Wheat (HRSW) Futures. Also, ION will support trading of the upcoming Bloomberg 500 (B500) Index futures. These new futures may launch in the second half of 2025. The necessary filings with the Commodity Futures Trading Commission (CFTC) are pending.
Transition to MIAX Futures Onyx
MIAX Futures will migrate the Minneapolis HRSW Futures from CME Globex to Onyx in the second quarter of 2025. This transition will streamline trading and execution for financial institutions and brokers, offering more efficient access through ION’s integrated platform.
Benefits of ION’s Support
ION’s global EOMS platform will power advanced trading capabilities for MIAX Futures Onyx users. Banks and brokers will get seamless execution and clearing services on the new exchange. Also, the integration will support agricultural and financial futures trading across multiple platforms. It will ensure flexible and efficient market access.
Effects on Traders and Investors
The integration will have these benefits for users:
Easier Access to Key Futures
Traders will benefit from ION’s seamless connectivity to MIAX Futures Onyx. This will make it easier to trade the Minneapolis HRSW Futures immediately after migration. The integration ensures efficient access from day one.
Advanced Trading Tools and Features
ION’s global EOMS platform will give traders access to advanced trading tools. This includes algo trading capabilities, allowing for more precise and strategic trading decisions. Traders can expect faster execution with minimal manual effort.
Opportunity to Trade New Futures Products
Once launched, the Bloomberg 500 (B500) Index futures will open new investment opportunities. Traders can diversify their portfolios by accessing a product linked to a broader market index. The expected launch is in the second half of 2025. Regulatory approvals are pending.
Reduced Complexity During Migration
The transition of HRSW Futures may involve disruptions. However, ION’s integration aims to reduce this complexity. So, traders can maintain consistency in their strategies.
About ION
ION provides trading and workflow automation software. It offers high-value analytics and insights to financial institutions, central banks, and corporates. It furnishes post-trade clearing and risk management solutions. Its XTP technology supports real-time valuations and comprehensive reporting. ION’s goal is to enhance efficiency and risk management in financial markets.
About MIAX Futures
MIAX Futures is a U.S.-based futures exchange. It specializes in agricultural commodities trading. Miami International Holdings (MIH) acquired MGEX on December 4, 2020. Afterward, they rebranded it as MIAX Futures in October 2024. The exchange aims to expand its offerings beyond traditional agricultural products to include diverse futures and options.
Summing Up
The collaboration brings a significant advancement in trading connectivity and efficiency. The migration of HRSW Futures and the potential launch of B500 products will strengthen MIAX Futures’ position in the market.
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