A perfect Manhattan with bittersweet liqueur rather than aromatic bitters and a balancing dash of sweet maraschino liqueur.
If you can't obtain Picon...
I love what the dry vermouth adds to this, and my first time trying this "manhattan" style cocktail with it. It adds a little more depth and complexity. I don't have the Picon and have not tried it, so I wasn't sure how best to substitute it. I instead added several dashes of orange bitters and 1 drop of black walnut bitters. I can see myself making these more frequently so I may spring for a bottle of Picon. And now I'm on a quest to try more of the dry/sweet vermouth hybrids.
So tried making a Amer Picon substititute again that I could just batch. Equal parts orange bitters, Cointreau, Aperol, and Nonino Amaro. Will still work on sourcing some Amer Picon though.