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ICE Best Execution Platform Expands Coverage to Over 2 Million Fixed Income Securities
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Rhea-AI Summary
Intercontinental Exchange (NYSE: ICE) has enhanced its Best Execution service, extending coverage to over 2 million fixed income instruments. This expansion includes a diverse range of securities, such as sovereigns, corporates, and securitized assets. The new web-based platform facilitates detailed analysis of execution data, addressing challenges in valuing thinly traded securities. Key features include trade-by-trade execution quality measures and improved user interface for effective monitoring and compliance.
Positive
Expanded Best Execution service to cover over 2 million fixed income instruments, enhancing market accessibility.
New platform allows for detailed analysis of execution metrics, improving transaction cost analysis for clients.
Negative
None.
New viewer allows for optimized usage across the front-, middle- and back-office
ATLANTA & NEW YORK--(BUSINESS WIRE)--
Intercontinental Exchange, Inc. (NYSE: ICE), a leading global provider of data, technology and market infrastructure, today announced enhancements to its Best Execution service, which more than doubles coverage to over 2 million fixed income instruments. This product expansion includes an extensive library of both liquid and less liquid, hard-to-value instruments across sovereigns, investment grade and high yield corporates, emerging markets, money market, U.S. municipals, agency pass-throughs, convertibles, and securitized assets including CMOs, ABS and MBS.
“For many fixed income securities, which don’t trade often, there is little-to-no trade data in the public domain, making them difficult to value, and requiring large amounts of proprietary data or history to properly examine, track and document best execution metrics,” said Tim Monahan, Senior Director, Product Development for ICE’s Best Execution service. “ICE’s Best Execution service provides trade-by-trade measures of relative execution quality for both on-the-run securities and those that do not generally have robust transactional data or fit into traditional execution workflows.”
The new web-based Best Execution platform offers a graphical interface and allows customers to analyze best execution results for more than 2 million securities including many that are not captured by the Municipal Securities Rulemaking Board (MSRB) and Trade Reporting and Compliance Engine (TRACE) datasets. It allows different stakeholders within a company to view, compare and analyze execution data and results across the fixed income trading business. Together, these enhancements offer an easier-to-use interface and more detailed best execution data and transaction cost analysis, which helps customers quantify and compare relative performance for their trades and execution strategies.
“ICE has had extensive experience evaluating and providing analytics for both liquid and thinly traded fixed income securities, which customers need the most help valuing,” said Amanda Hindlian, President of Fixed Income and Data Services at ICE. “Our broad coverage has been a hallmark of our fixed income data offering, and it allows us to deliver benchmarking and trading solutions across the lifecycle of a trade, from pre-trade analysis straight through to the front-, middle- and back-office.”
Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds and operates digital networks to connect people to opportunity. We provide financial technology and data services across major asset classes that offer our customers access to mission-critical workflow tools that increase transparency and operational efficiencies. We operate exchanges, including the New York Stock Exchange, and clearing houses that help people invest, raise capital and manage risk across multiple asset classes. Our comprehensive fixed income data services and execution capabilities provide information, analytics and platforms that help our customers capitalize on opportunities and operate more efficiently. At ICE Mortgage Technology, we are transforming and digitizing the U.S. residential mortgage process, from consumer engagement through loan registration. Together, we transform, streamline and automate industries to connect our customers to opportunity.
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 here. Other products, services, or company names mentioned herein are the property of, and may be the service mark or trademark of, their respective owners. 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, 2021, as filed with the SEC on February 3, 2022.
ICE Best Execution Service, ICE Liquidity Indicators, fixed income evaluations, continuous evaluated pricing, end-of-day evaluations, evaluated curves, model based curves, market sentiment scores and Fair Value Information Services related to securities are provided in the US through ICE Data Pricing & Reference Data, LLC and internationally through ICE Data Services entities in Europe and Asia Pacific.
What enhancements were made to ICE's Best Execution service?
ICE has expanded its Best Execution service to cover over 2 million fixed income instruments, including hard-to-value securities.
How does ICE's new Best Execution platform improve trading analysis?
The platform provides a graphical interface for analyzing execution results, facilitating trade-by-trade quality measures and better compliance monitoring.
What types of securities does ICE's Best Execution service include?
It includes a wide range of securities such as sovereigns, investment-grade corporates, emerging markets, and various securitized assets.
When was the expanded Best Execution service announced by ICE?
The enhancements to ICE's Best Execution service were announced recently, as detailed in their latest press release.
