- Collaboration responds to strong demand from leading Italian financial institutions
- Spectrum will incorporate Euronext Securities Milan’s widely-used X-TRM settlement infrastructure
- Integration continues Spectrum’s strategy of building a ‘plug and play’ trading ecosystem around local market infrastructure
Spectrum Markets, the pan-European trading venue for securitised derivatives, announced today it is collaborating with Euronext Securities Milan, the Central Securities Depository (CSD) for the Italian financial market formerly known as Monte Titoli, to further enhance connectivity and provide pan-EU post-trade solutions.
The new agreement responds to strong demand from Italian financial institutions wanting to join the venue but requiring the option of local settlement. Spectrum will connect to Euronext Securities Milan’s X-TRM settlement infrastructure which will handle:
- Trade capture and enrichment
- Bilateral aggregation and netting
- Sending of settlement instructions to Target-2-Securities (T2S)
By doing so, Spectrum is aligning itself with the requirements of the local market, incorporating a settlement solution that is already widely used in order to reduce the burden on financial institutions when it comes to enabling their customers to trade securitised derivatives.
“The ability to easily connect to an established, ‘plug and play’ trading ecosystem is something that the leading Italian institutions have told us they really value, and so we quickly concluded that a local settlement option was an obvious and long-term investment to better serve our members” explains Nicky Maan, CEO of Spectrum Markets.
“When we looked at how best to respond to the specific needs of the local market, integrating with Euronext Securities Milan in Italy was a natural choice, while at the same time we continue to work on building and consolidating our network with other important players around Europe”, added Maan.
Following Euronext’s acquisition of the Borsa Italiana Group in April 2021, Monte Titoli has integrated under the Euronext brand and renamed Euronext Securities Milan, joining the network of Euronext’s CSD infrastructures, including a multi-asset-class clearing house and a significant network of European CSDs with close to €6 trillion in assets under custody.
About Spectrum Markets
Spectrum Markets is the trading name of Spectrum MTF Operator GmbH. Headquartered in Frankfurt am Main, Germany, it is a pan-European trading venue for securitised derivatives aimed at financial institutions and their retail investors. Since launch, trading has been available in: Germany, France, Italy, Spain, Sweden, Norway, the Netherlands, Ireland, and Finland
Regulated by BaFin and MiFID II compliant, the exchange uses a uniquely open architecture system to allow investors to trade with increased choice, control and stability. Through its pan-European ISIN, 24/5 trading services and its own proprietary venue, Spectrum enables a guaranteed baseline level of liquidity over a range of products and is able to swiftly and safely match a significant number of orders and process multiple quotes every second.
Further information can be found at spectrum-markets.com
About Euronext Securities Milan
Euronext Securities Milan is now part of the network of Euronext CSDs, channelling investments into local economies and supporting European capital markets.
Euronext Securities offers a safe and efficient market infrastructure to support the business requirements of investors as well as competitive and tailored solutions to help issuers meet their funding needs and reach a wide base of local and international investors.
Euronext Securities covers all stages of the value chain, from pre-settlement, settlement, custody to a complete range of asset services.
Further information can be found at www.euronext.com/en/post-trade/euronext-securities-milan
T: +44 203 778 1103
All information contained herein is for information purpose only and addresses exclusively Members of Spectrum Markets and persons interested in becoming a Member of Spectrum Markets. Nothing herein constitutes an offer to sell or a solicitation of an offer to purchase any securitized derivatives listed on Spectrum Markets or any product described herein. Spectrum Markets does not provide financial services, such as investment advice or investment brokering. Prospective retail investors can trade such products only with their brokers. The information herein does not constitute investment advice or an investment recommendation. Any information provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. Turbo Warrants are complex financial instruments and investors may experience a total loss.