Trading Technologies to Provide Day-One Connectivity to MIAX Futures’ Onyx Platform

Trading Technologies International, Inc. (TT) has announced that it will offer day-one connectivity to the MIAX Futures Exchange’s new matching engine, MIAX Futures Onyx, via the TT platform. The integration will enable trading of MIAX Futures’ Minneapolis Hard Red Spring Wheat (Minneapolis HRSW) futures upon Onyx’s launch in Q2 2025. Additionally, TT will support MIAX Futures’ planned Bloomberg 500 Index futures, expected to debut in H2 2025, pending regulatory approval.

Alun Green, TT’s EVP Managing Director, Futures & Options, commented: “Our market-leading tools, including execution algos and Autospreader, will ensure a seamless transition of outright and intercommodity spread trading onto Onyx. We will also be ready on day one to support the launch of new products like the Bloomberg 500, which will be of significant interest to our global clients.”

Thomas P. Gallagher, Chairman and Chief Executive Officer of Miami International Holdings, Inc. and Chairman of the MIAX Futures Board of Directors, added: “Our collaboration with TT is an important initiative that will help ensure that our clients have uninterrupted access to Minneapolis HRSW futures, as well as the new B500 futures expected to launch in H2 2025.”

McKay Brothers Launches Lowest Latency Tokyo-London-Dublin Crypto Connectivity

McKay Brothers International has introduced the fastest connectivity between major crypto trading hubs in Tokyo, London, and Dublin, achieving sub-132ms round-trip latency. The new service links traders hosted in AWS Tokyo with those operating at Equinix LD4 in London and AWS Dublin, enhancing execution speeds for crypto markets.

This launch marks McKay’s first ultra-low latency infrastructure developed specifically for cryptocurrency trading, diverging from its previous reliance on traditional finance networks. The Tokyo-London-Dublin route complements the company’s existing ultra-low latency connections between Tokyo and other key trading centres, including Hong Kong, Singapore, Chicago, and Ashburn.

“Crypto trading increasingly demands low latency,” said Francois Tyc, MBI’s Managing Director. “We are pleased to leverage our many years of leadership in ultra-low latency connectivity for traditional finance to serve the fast growing low latency crypto market.”

Substantive Research and Expand Research Publish White Paper on Market Data Pricing Disparities

Substantive Research, the research and market data analytics provider, has partnered with Expand Research, a BCG Company, to release a white paper titled “Market Data Pricing – 2024 in Review.” The report combines Expand’s insights into firms’ spending with Substantive Research’s analysis of vendor pricing inconsistencies and discounting trends, providing a detailed assessment of market dynamics at both provider and product levels.

Coming in the wake of a recent study by Market Structure Partners on the same topic, the research highlights the significant pricing power of major vendors, who operate in a market lacking public pricing transparency. With firms negotiating contracts in isolation, many struggle to assess whether their costs are fair. While the FCA reviewed pricing concerns, it opted against major intervention in early 2024 due to potential unintended consequences. The white paper’s key finding is that pricing inflation is unsustainable, with vendor cost increases far exceeding firms’ budget growth. Additionally, wide pricing disparities persist, with some firms paying significantly more than peers for identical products.

Digital Asset and Euroclear Launch First Phase of Tokenised Collateral Mobility Initiative

Digital Asset and Euroclear have launched the first phase of their tokenised collateral mobility initiative for the Canton Global Collateral Network (GCN). This initial phase aims to explore how Euroclear’s expertise in collateral management can be applied to digital and crypto markets using the Canton Network, a blockchain designed for privacy, scalability, and interoperability in systemically important financial markets.

With increasing demand for on-chain collateral and margin management solutions, financial institutions seek efficient ways to mobilise assets while ensuring compliance with privacy and control requirements. The initiative will involve industry participants to define a strategic roadmap, focusing on the benefits of tokenised collateral mobility and the role of crypto derivatives in 24/7 trading and settlement.

Marije Verhelst, Head of Product Strategy and Development Collateral Management and Securities Lending at Euroclear, commented: “Euroclear has long been a trusted partner in the global collateral ecosystem, delivering efficient and resilient post-trade services. We are now actively exploring how our expertise can be extended into tokenized assets and digital collateral solutions.”

Kelly Mathieson, Chief Business Development Officer at Digital Asset, added: “We are excited to collaborate with Euroclear on this initiative to explore the future of digital collateral mobility. The Global Collateral Network has the potential to revolutionize collateral management by enabling real-time, compliant, and interoperable asset mobility across both traditional finance and digital markets. This is a significant step toward unlocking the full potential of tokenization across new crypto capital markets.”

This collaboration aligns with Euroclear’s broader efforts to support digital asset adoption and highlights growing institutional interest in blockchain-based financial solutions.

CME Group and DTCC to Expand Cross-Margining Arrangement by December 2025

CME Group and The Depository Trust & Clearing Corporation (DTCC) have revealed plans to expand their existing cross-margining arrangement by December 2025, pending regulatory approval. The enhancement will allow eligible end-user clients to access greater capital efficiencies when trading U.S. Treasury securities and CME Group interest rate futures with offsetting risk exposures.

To participate, clients must use the same dually registered Futures Commission Merchant (FCM) and broker/dealer at both central counterparties (CCPs). The initiative aligns with upcoming regulatory changes for U.S. Treasury clearing, promoting increased central clearing and reducing systemic risk. Under the proposed structure, FICC will designate cross-margin accounts, and CME Group will enable futures to be directed to these accounts throughout the day. Ahead of regulatory approvals, end-users can begin account setup, legal documentation, and workflow testing.

SimCorp Partners with Yield Book to Enhance Fixed Income Analytics

SimCorp, the integrated investment management solutions provider, has entered a strategic partnership with Yield Book, an LSEG Analytics business. Yield Book provides advanced fixed income models, analytics, and data products across various asset classes, including government and corporate bonds, US municipal bonds, and securitized debt.

This collaboration enables SimCorp’s clients to integrate Yield Book’s analytics with Axioma risk solutions, enhancing risk forecasting, sensitivity analysis, stress testing, and factor-based risk decomposition. The integration supports institutional investors in making more informed investment and risk decisions.

The partnership builds on SimCorp’s existing collaboration with LSEG Data & Analytics, established in 2024. It aims to strengthen data accessibility across the SimCorp One platform, facilitating more efficient, data-driven decision-making for mutual clients.

ION Commodities Relaunches Agtech as a Cloud-Based SaaS Solution for Grain and Oilseed Trading

ION Commodities has relaunched Agtech, formerly known as SMARTsoft, as a Software as a Service (SaaS) solution designed to modernise grain and oilseed merchandising and trading. Built on 30 years of industry expertise, the new Agtech leverages cloud-based technology to digitalise the entire value chain, offering real-time risk management, enhanced operational efficiency, and improved decision-making.

The solution provides tailored workflows and role-based dashboards for various industry professionals, including traders, CFOs, and logistics operators. Key functionalities include contract management, real-time P&L tracking, inventory management, and shipment planning. As the latest addition to ION Commodities’ suite of commodity management solutions, Agtech aims to set a new industry standard, equipping agricultural businesses with the tools needed to navigate volatile markets and maximise profitability.

GCEX Launches XplorAllocate to Streamline Multi-Asset Trade Allocation

GCEX Group has introduced XplorAllocate, a trade allocation tool designed for fund managers and professional traders. The solution aims to enhance efficiency, accuracy, and transparency across crypto spot, crypto derivatives, forex CFDs, and traditional financial markets. By automating trade distribution, XplorAllocate reduces operational risks and eliminates the need for separate allocation tools like PAMM or MAM.

The tool allows users to execute block trades and allocate them proportionally across clients, offering real-time visibility, a clear audit trail, and customisable allocation options. Integrated into GCEX’s trading ecosystem, XplorAllocate ensures a seamless experience with API connectivity for ease of access.

This launch aligns with GCEX’s broader institutional strategy, complementing its XplorDigital solutions, including ‘Crypto in a Box’ and ‘Broker in a Box.’ These platforms provide advanced liquidity, risk management, and regulatory-compliant technology solutions for institutional and professional clients.

SkySparc and Auxality Form Strategic Partnership to Enhance Asset Management Solutions

SkySparc, provider of solutions for corporate and financial institutions, has formed a strategic partnership with Auxality, a specialist in financial workflow digitalisation. This collaboration aims to enhance asset management capabilities by optimising workflows and ensuring regulatory compliance.

The partnership addresses key operational challenges for asset managers, including increasing regulatory demands, data management complexity, and margin pressure. By integrating SkySparc’s financial systems expertise with Auxality’s workflow solutions, the alliance provides a seamless framework for data accuracy, compliance, and cost reduction. SkySparc’s OmniFi platform enhances integration by offering comprehensive monitoring across all processes.

This collaboration is designed to allow asset managers to streamline documentation, automate workflows, and maintain data consistency, reducing operational overhead and compliance risks. Additionally, Auxality expands its service coverage, including 24/7 support.

Joakim Wiener, CEO, SkySparc, commented: “This strategic partnership aligns perfectly with our commitment to enabling continuous innovation within financial institutions. Together with Auxality, we can help our clients excel in managing the increasing complexities of fund administration and regulatory compliance. This collaboration further strengthens our position as a full-service provider to financial institutions.”

George Sallfeldt, CEO, Auxality, added: “In today’s increasingly complex regulatory environment, asset managers need solutions that reduce operational burden while ensuring compliance. By integrating directly with existing systems and digitising outputs we eliminate data redundancy and manual updates, allowing our clients to focus on their core business of managing investments. Our partnership with SkySparc enables us to deliver a truly integrated workflow solution with full support.”

BMV and IPC Partner to Launch Advanced Beeks Technology Infrastructure

Grupo Bolsa Mexicana de Valores (BMV) and IPC have signed an agreement to deploy Beeks’ advanced technology infrastructure, enhancing BMV’s market capabilities. The deployment includes primary and disaster recovery sites in Mexico City, providing a secure and scalable solution to support market growth.

Set to go live in the second half of 2025, the new infrastructure will enable BMV to offer co-location services, allowing clients to host operations directly on the platform without needing a proprietary site. IPC is the contracting party, while Beeks will oversee the end-to-end deployment of the exchange infrastructure. This initiative aims to deliver a robust, flexible, and secure solution tailored for capital markets, leveraging Beeks’ expertise in financial technology.

“This agreement allows us to deliver cutting-edge technology, with a low-latency infrastructure deployed locally in Mexico City. We are well-positioned to meet the evolving needs of our market participants, remain at the forefront of innovation and as a leader in the region,” commented Jorge, Alegría, CEO of Grupo BMV.

“Beeks technology offers a dedicated, fully managed infrastructure for exchanges and trading venues worldwide,” said Gordon McArthur, CEO of Beeks Group. “We are proud to partner with BMV and leverage our established relationship with IPC to deliver cutting-edge solutions to the financial markets. This two-site deployment will ensure resiliency, security and scalability, supporting BMV’s ambitions for growth and innovation in the market.”

IPC’s Tito Singh, CRO added: “This is a great example of the strength of our partnership strategy, working with the best suppliers to support our customer first approach. It reinforces our long-term relationship with Beeks and our ongoing collaboration to deliver innovative, market-leading solutions in the industry.”