Intercontinental Exchange, Inc. (NYSE:ICE), a leading operator of global exchanges and clearing houses and provider of data and listings services, today announced that ICE Bonds has completed its integration with BlackRock’s Aladdin, offering access to ICE Bonds’ Portfolio Auction functionality, an automated execution protocol for portfolio trading. Aladdin is a premier portfolio management system for investment managers that combines sophisticated risk analytics with comprehensive trading and position monitoring tools.
ICE Bonds’ Portfolio Auction allows investment managers the ability to auction a portfolio of bonds on an all-or-nothing basis to one or multiple platform participants in a discrete, pre-determined period of time. Portfolios may consist of any number of individual bonds and may be all buys or all sells or a combination of both. Portfolio Auction offers two distinct trading session formats, At-the-Market or At-the-Close, giving investment managers the ability to leverage either ICE Data Services’ Continuous Evaluated Pricing (CEP) or End-of-Day Evaluations. By connecting with Blackrock’s Aladdin, investment managers can now seamlessly access and execute orders using the ICE Bonds Portfolio Auction, reducing operational risk and increasing workflow efficiencies.
“In the past, portfolio trading has largely been a manual process, with no standardization, which is time consuming for all participants. By bringing this protocol together with our ICE Data Services’ Continuous Evaluated Prices, portfolio managers can execute as close as possible to NAV prices, significantly reducing tracking errors against benchmarks,” said Marshall Nicholson, President of ICE Bonds. “The addition of this auction protocol to ICE Bonds’ existing RFQ and Central Order Book protocols will give traders a more efficient method to buy or sell a basket of bonds, which compliments the workflow of the ICE ETF Hub, our innovative, open architecture solution supporting the primary market for ETF trading.”
ICE Bonds offers trading solutions for Corporates, Municipals, Treasuries, Agencies, Structured Products and Certificates of Deposit. Customers can also leverage the continuous and end-of-day fixed income pricing and analytics offered by ICE Data Services, which is already available to customers over Aladdin.
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
“ICE Bonds” is a marketing name used to describe Intercontinental Exchange, Inc.’s (ICE) Fixed Income offering, to include execution services and ETF related services. The Portfolio Auction service is offered by Creditex Securities Corporation, a U.S. Securities and Exchange Commission registered Broker-Dealer, a member of the Financial Industry Regulatory Authority and a member of the Municipal Securities Rulemaking Board.