ICE ETF Hub Expands Custom Basket Pilot Program
28 October 2020 - 11:30PM
Business Wire
Four new market makers join the program
New technology enhancements bring additional
automation to ETF Primary Market
Intercontinental Exchange, Inc. (NYSE:ICE), a leading operator
of global exchanges and clearing houses and provider of mortgage
technology, data and listings services, today announced that four
new market makers have joined the ICE ETF Hub pilot program. In
addition, several enhancements have been made to the platform.
ICE ETF Hub launched the pilot program to allow issuers, market
makers and authorized participants to experience, first-hand, the
custom basket negotiation technology in a production environment.
The new firms joining the program include Brownstone Investment
Group LLC, Flow Traders, Sumridge and Wolverine. They join existing
market makers, including Jane Street, Old Mission and CTC, among
others. Additional firms are expected to join the platform in the
coming months.
“The addition of these firms demonstrates the ETF industry’s
desire for, and commitment to, increased efficiencies within the
ETF primary market, which ultimately enables issuers to offer more
innovation to the investment community,” said Peter Borstelmann,
President of ICE Bonds and Head of ICE ETF Hub.
ICE ETF Hub also recently launched new functionality giving more
control and flexibility to market participants. The enhancements
include the ability to pre-screen baskets against lists and
indices, as well as ‘Countering’ functionality, giving participants
more flexibility in negotiating custom baskets. In addition, ICE
ETF Hub recently completed its connection to ICE FI Select,
allowing traders to source bonds in the secondary cash market via
ICE Bonds’ liquidity pools, and launched the ICE Chat functionality
to support the custom basket workflow.
ICE ETF Hub’s custom basket negotiation technology allows
primary market participants to negotiate and assemble custom basket
proposals in an automated environment. This important improvement
helps fixed income participants transition away from the cumbersome
manual and bespoke processes in use today, to a standardized and
automated environment.
ICE ETF Hub is an industry-wide, open architecture, technology
solution, offering a more standardized and simplified process for
the creation and redemption of ETF shares. ICE ETF Hub currently
supports both US-listed domestic equity and fixed income ETFs.
For more information about ICE ETF Hub, please visit:
www.theice.com/etf-hub.
About Intercontinental Exchange
Intercontinental Exchange (NYSE: ICE) is a Fortune 500 company
formed in the year 2000 to modernize markets. ICE serves customers
by operating the exchanges, clearing houses and information
services they rely upon to invest, trade and manage risk across
global financial and commodity markets. A leader in market data,
ICE Data Services serves the information and connectivity needs
across virtually all asset classes. As the parent company of the
New York Stock Exchange, the company is the premier venue for
raising capital in the world, driving economic growth and
transforming markets.
Trademarks of ICE and/or its affiliates include Intercontinental
Exchange, ICE, ICE block design, NYSE and New York Stock Exchange.
Information regarding additional trademarks and intellectual
property rights of Intercontinental Exchange, Inc. and/or its
affiliates is located at
http://www.intercontinentalexchange.com/terms-of-use. Key
Information Documents for certain products covered by the EU
Packaged Retail and Insurance-based Investment Products Regulation
can be accessed on the relevant exchange website under the heading
“Key Information Documents (KIDS).”
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995 -- Statements in this press release regarding
ICE's business that are not historical facts are "forward-looking
statements" that involve risks and uncertainties. For a discussion
of additional risks and uncertainties, which could cause actual
results to differ from those contained in the forward-looking
statements, see ICE's Securities and Exchange Commission (SEC)
filings, including, but not limited to, the risk factors in ICE's
Annual Report on Form 10-K for the year ended December 31, 2019, as
filed with the SEC on February 6, 2020.
About ICE Bonds
Securities products and services are offered through ICE Bonds
Securities Corporation or ICE Bonds, member FINRA, MSRB, NFA and
SIPC. The information found herein, has been prepared solely for
informational purposes and should not be considered investment
advice, is neither an offer to sell nor a solicitation of an offer
to buy any financial product(s), is intended for institutional
customers only and is not intended for retail customer use.
ICE-CORP
View source
version on businesswire.com: https://www.businesswire.com/news/home/20201028005389/en/
ICE Media Contact: Damon Leavell Damon.Leavell@theice.com
212-323-8587 ICE Investor Contact: Warren Gardiner
Warren.Gardiner@theice.com 770-835-0114
Intercontinental Exchange (NYSE:ICE)
Historical Stock Chart
From Apr 2024 to May 2024
Intercontinental Exchange (NYSE:ICE)
Historical Stock Chart
From May 2023 to May 2024