Banca IMI signs with Patsystems for power DMA
Patsystems is pleased to announce that Banca IMI, one of the leading financial brokers in Italy, has selected Patsystems to provide Direct Market Access (DMA) for electronic trading on IDEX, the new segment of the Borsa Italiana's derivatives market (IDEM).
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The formation of IDEX was announced in July 2008 when the Borsa Italiana signed with GME - Gestore del Mercato Elettrico - for the trading of power futures contracts. The structure of IDEX products, which will be cash settled, is designed to attract financial operators and increase the market liquidity. The new power contracts began trading on IDEX earlier this month.
According to Banca IMI operators, IDEX signifies a unique and exciting opportunity for the Italian market and IMI's customers look forward to utilizing the new IDEX power contracts to take advantage of market volatility.
Graeme Neilly, Director of Global Account Management, Patsystems, said:
"Patsystems is pleased to support Banca IMI and the Italian markets by providing connectivity to the Borsa Italiana's new power exchange."