FastTrade, the Smart Order Routing (SoR) system operated by ION’s LIST, has enhanced its services by adding new equity trading mechanisms from Cboe Europe.
Customers of LIST can now access Cboe’s Dark and Periodic Auction Books, which are the largest in their categories, alongside existing connectivity to the exchange’s Lit Order Books. This upgrade also introduces sweep functionality, allowing clients to access multiple Cboe order books with a single order, potentially improving size and price opportunities.
“It will help strengthen Cboe’s presence in the Italian market”
Cboe Europe is the leading pan-European stock exchange by value traded and market share, providing access to stocks from 15 European countries. It offers an extensive range of trading services tailored to meet execution needs for speed, size, and price improvement.
Additionally, LIST’s customers will benefit from Cboe’s new retail-focused tariff for its Lit, Dark, and Periodic Auctions Books, which offers free executions for retail-attested orders sent directly by retail brokers. Cboe plans to launch a retail liquidity provider solution in early 2025, pending regulatory approvals.
Alex Dalley, Head of Cboe Netherlands, Cboe Europe, said, “We are excited that ION’s LIST solution has expanded access to our full range of equity trading execution mechanisms. It will help strengthen Cboe’s presence in the Italian market, particularly among its retail community, and enable LIST’s customers to benefit from better execution outcomes.”
Alvise Insalaco, CEO of LIST, said, “The enhancement of our trading platform again demonstrates our commitment to innovation. We are dedicated to delivering cutting-edge solutions that ensure the best execution for client orders across both lit and dark venues.”
