ICE Bonds launches, bringing together ICE’s fixed income execution platforms

Maria Nikolova

ICE Bonds brings together ICE BondPoint, TMC Bonds and ICE Credit Trade under a single management team.

Operator of global exchanges and clearing houses and provider of data and listings services Intercontinental Exchange Inc (NYSE:ICE) today announces the launch of ICE Bonds which brings together ICE BondPoint, TMC Bonds and ICE Credit Trade under a single management team.

ICE Bonds offers multiple anonymous and disclosed trading protocols, including click-to-trade, request-for-quote and portfolio auctions, and provides access to Corporates, Municipals, Treasuries, Agencies and Certificates of Deposit.

ICE has appointed Marshall Nicholson as president of ICE Bonds to lead this new offering. Mr Nicholson has more than 20 years of experience in the fixed income markets, He will be responsible for managing the business, and overseeing new product development and sales. Prior to joining ICE, Mr Nicholson was President of Millennium Advisors, a technology-driven broker dealer serving the fixed income markets and, before that, he was Managing Director and President of BondPoint, which was part of KCG Holdings. Tom Vales will report to Mr Nicholson as COO of ICE Bonds and will continue in his role as head of TMC Bonds.

“By combining ICE’s existing execution platforms and leveraging the extensive pricing and analytics offered by ICE Data Services, we will offer customers unprecedented access to liquidity, trading protocols and choice for executing their trades,” Mr Nicholson said. “This new structure allows us to both optimize efficiencies and provide customers with better solutions to meet their needs. I’m excited to join forces with Tom Vales and the rest of the ICE team as we work with our many customers to make ICE Bonds the premier trade execution provider to the fixed income community.”

The three automated trading systems will continue to be operated by TMC Bonds L.L.C. and Creditex Securities Corporation for the time being. But ICE intends to consolidate the trading systems under a single broker-dealer later this year, subject to regulatory approval.

Let’s recall that, in July last year, ICE announced that the completion of its acquisition of TMC Bonds LLC. The transaction was completed for $685 million in cash.

In January 2018, ICE announced the finalization of its acquisition of Virtu BondPoint from Virtu Financial for $400 million in cash.

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