Privately owned brokerage company Sigma Broking has extended its partnership with ION, a software provider of trading, analytics, treasury and risk management solutions for capital markets, commodities and treasury management. 

Under the new agreement, Sigma will leverage ION’s XTP Execution suite to allow its customers to trade listed derivatives on the London Metal Exchange, in addition to the previous arrangement of deployment ION’s post-trade solutions to automate Sigma’s middle- and back-office operations.

In a press statement, Gary Pettit, CEO of Sigma Broking, said: “A core pillar of my strategic growth plan for Sigma is the implementation of best-in-class systems to provide our clients with seamless execution.  Sigma Broking is one of only eight Category 1 Ring Dealing members on the LME; ION’s XTP Execution further strengthens our front-office execution capabilities and infrastructure for trading commodities on the LME.”

Francesco Margini, Chief Product Officer for Cleared Derivatives at ION Markets, added: “We are delighted to build on our existing partnership with Sigma, which offers access to trading worldwide. Using XTP Execution, Sigma is able to capitalise on additional opportunities on the LME, using integrated workflows and connected data for real-time insights.”

Sigma offers broking and execution services to investment banks, producers and consumers of base metals, hedge funds and portfolio managers across global financial markets and within multiple jurisdictions.