Intercontinental Exchange, Inc. (NYSE:ICE), a leading operator of global exchanges and clearing houses and provider of data and listings services, today announced the launch of two key enhancements for its ICE ETF Hub platform:
- FIX Connectivity: ICE ETF Hub has launched a FIX (Financial Information eXchange) application programming interface (API), which allows Authorized Participants to connect to the ICE ETF Hub platform and manage create/redeem orders in a seamless, automated way. With this new functionality, ICE ETF Hub is the first platform to offer FIX access to both Issuers and Authorized Participants. The FIX protocol is used by global financial markets to communicate trade information and complete millions of transactions each day.
- Multi-Order Functionality: ICE ETF Hub’s new multi-order functionality enables Authorized Participants to submit multiple transactions to an ETF Issuer as one order, enhancing operational efficiency, reducing human error and cutting transaction times down to seconds.
“These new enhancements provide our customers much greater levels of standardization and efficiency both in the way that they connect with ICE ETF Hub and process creation and redemption orders,” said Peter Borstelmann, Head of ICE ETF Hub. “We are working closely with our customers to continue delivering key functionality to improve the ETF primary market trading workflow, which has been a critical part of our mission from the start.”
ICE ETF Hub is being developed as an industry-wide, open architecture, primary market platform for ETFs, which creates a more standardized and simplified process for ETF creation and redemption. It currently offers support for both US-listed domestic equity and fixed income ETFs, and plans to launch support for the assembly of custom baskets and US-listed international equity ETFs later in 2020. It also plans to establish connectivity to ICE Bonds’ trading protocols, including portfolio auctions, click-to-trade and request-for-quote (RFQ).
ICE ETF Hub is available to all market participants on an open basis, offering flexible access to third party order management systems, trading venues, proprietary software solutions and connectivity firms. For more information about ICE ETF Hub, 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.