It travels faster than the average 9x18 bullet but that doesn't seem to totally explain why it feels as hot as it does.
Some 3 or 4 years ago, when Fiocchi was more available and didn't cost so much, there were a few threads about the percieved recoil of this ammo. If you look quick you can still find those threads on the old board. I believe the recoil is due to a fast burning powder the Italians use.