Intercontinental Exchange enhances ICE ETF Hub platform

Maria Nikolova

Intercontinental Exchange launches FIX Connectivity and Multi-Order Functionality for ICE ETF Hub.

International operator of exchanges and clearing houses and provider of data and listings services Intercontinental Exchange, Inc. (NYSE:ICE) today announced the launch of two key enhancements for its ICE ETF Hub platform: FIX Connectivity and Multi-Order Functionality.

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. Thanks to 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.

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.

In December 2019, ICE announced the addition of a functionality to ICE ETF Hub to support US-listed fixed income exchange traded funds (ETFs). This functionality enables authorized participants to submit creation/redemption orders for fixed income ETFs – including those containing domestic and international government bonds, corporate bonds, mortgages and municipal bonds.

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. At present, it 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).

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