just now
ION, the trading and workflow automation software provider, has announced it will support connectivity to MIAX Futures' new matching engine, MIAX Futures Onyx (Onyx), when it launches in the second quarter of 2025.
The London-based firm confirmed on 1st April 2025 that it will provide day-one connectivity to MIAX Futures' flagship product, Minneapolis Hard Red Spring Wheat (Minneapolis HRSW) Futures, which is migrating from CME Globex onto the new Onyx platform.
ION will also support trading of the new Bloomberg 500 (B500) Index futures that MIAX Futures plans to launch in the second half of 2025, subject to regulatory filings with the Commodity Futures Trading Commission (CFTC).
The Onyx platform is built on proprietary MIAX technology and is designed to support trading of agricultural and financial futures and options on futures across multiple locations. Banks and brokers using ION's technology stack will be able to access execution and clearing services on the new exchange with minimal integration effort.
Troy Kane, President of MIAX Futures, said: "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, added: "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."
MIAX Futures was formerly known as the Minneapolis Grain Exchange (MGEX) before its rebranding. The partnership with ION will provide MIAX Futures' clients with access to ION's advanced trading capabilities, including its algorithmic trading suite.
