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 ETF Hub had record notional volume of $148 billion in the second quarter of 2020, compared to $137 billion in the first quarter, an increase of 9%.
This growth in activity follows the progress that ICE ETF Hub has made in building the network of ETF Hub community members. Since launching in October 2019, seven new firms have been added as authorized participants, and two of those firms – Credit Suisse and Wells Fargo – joined in the last month. Additionally, ICE ETF Hub has continued to launch new functionality that enhances the processing of ETF create and redeem orders and brings new efficiencies to the ETF primary market.
“In a very short time, we’ve seen both strong interest from the ETF community in joining ICE ETF Hub and rapid growth in activity on the platform,” said Peter Borstelmann, Head of ICE ETF Hub. “We’re excited to continue working with issuers and authorized participants across the ETF industry to launch new functionality that will bring more transparency and streamlined access to the primary market.”
ICE ETF Hub has been developed as an industry-wide, open architecture, primary market technology solution for ETFs, which forms a more standardized and simplified process for ETF creation and redemption. It currently supports both US-listed domestic equity and fixed income ETFs.
ICE ETF Hub recently launched functionality for the assembly of custom baskets in an automated way via APIs and ICE ETF Hub’s front-end user interfaces, and ICE Chat functionality is planned to launch in the third quarter of 2020. Connectivity between ICE ETF Hub and ICE FI Select for integrated secondary market cash bond execution is also planned to launch during the third quarter, and support for US-listed international equity ETFs is planned for later in 2020.
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.
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