ICE Best Execution doubles coverage to over 2 million fixed income securities

Rick Steves

“For many fixed income securities, which don’t trade often, there is little-to-no trade data in the public domain.”

Intercontinental Exchange, Inc. has expanded its Best Execution service and doubled the coverage to over 2 million fixed income instruments.

Leveraging the ICE Continuous Evaluated Pricing, the Best Execution service helps traders, portfolio managers and compliance officers to better monitor trading activities, meet regulatory compliance requirements and measure trading effectiveness.

The Best Execution solution features 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.

Little-to-no trade data in the public domain

Tim Monahan, Senior Director, Product Development for ICE’s Best Execution service, said: “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. 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.”

Offering a graphical interface, the platform 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.

Enhancements offer a more detailed best execution data and transaction cost analysis so that customers can quantify and compare relative performance for their trades and execution strategies.

Amanda Hindlian, President of Fixed Income and Data Services at ICE, commented: “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. 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.”

The ICE Best Execution Service is provided in the US through ICE Data Pricing & Reference Data, LLC and internationally through ICE Data Services entities in Europe and Asia Pacific.

Read this next

Institutional FX

FXSpotStream reports second best figure for monthly volumes

Trading volumes on institutional FX platforms surged in June after fears over the impact of Russia’s military invasion of Ukraine sent speculative asset classes reeling.

Retail FX

Vantage expands MT5 offering with access to new stocks

ASIC-regulated foreign exchange brokerage Vantage has expanded its service offering and trading products by incorporating new markets, namely 14 exchange-based stocks on MetaTrader 5.

Digital Assets

CFTC charges $1.7 billion Bitcoin scam, largest to date

Mirror Trading accepted at least 29,421 Bitcoin from approximately 23,000 investors from the United States and even more throughout the world.

Retail FX

Spotware Systems upgrades cTrader Desktop to version 4.3

Spotware Systems, a technology provider for the electronic trading industry, has launched an updated version of its cTrader Desktop, which adds new functionality to join a roster of advanced trading capabilities.

Digital Assets

OKX launches Block Trading for tighter pricing

With Block Trading, users can integrate spot and derivatives trades on the same platform and trade multiple currencies in a single trade. The service supports trading of perpetual swap, futures, and option contracts with popular altcoins as the underlying.

Industry News

Interactive Brokers pays $1 million to settle with CFTC

Interactive Brokers overcharged its customers a total of $710,828.14.

Metaverse Gaming NFT

DappRadar launches cross-chain token staking

The launch of the cross-chain token staking mechanism by DappRadar comes under a partnership with LayerZero protocol, which enables smart contracts to communicate across different chains.

Digital Assets

Polkadot releases one-stop marketplace for Substrate pallets

Proof-of-stake blockchain Polkadot has achieved a significant feat in its development, as it rolls out Substrate Marketplace, a one-stop shop for exploring the many Substrate pallets currently available.

Digital Assets

Klever goes live with Mainnet of its native blockchain

Blockchain infrastructure provider Klever has completed the foundational development for its native layer 1 blockchain functionalities and today launches its mainnet.

<