In a pan, heat the extra virgin olive oil and add half of the chopped onions. Cook until golden.
Add the squid and cook for a few minutes.
Next, add the white wine and simmer in medium heat for 30 minutes, stirring constantly. Add water as necessary to keep the sauce from drying up. When squid becomes soft, remove from heat and set aside.
In another saucepan, melt the butter and add the rest of the chopped onions.
Add the rice and toast for a few minutes.
Then, add a cup of fish or vegetable broth and bring to a simmer over low heat. Gradually add two more cups of broth to the rice. Cook for 9 minutes.
Add the previously cooked squid to the rice and simmer over medium heat. And add the squid ink and the last cup of broth. Cook for another 8 minutes.
When the rice is almost cooked, add salt and pepper to taste.
After the risotto is done, remove from heat and add the Parmesan cheese. Mix well.
Lastly, sprinkle the finely chopped parsley and combine well with the risotto dish.