Investortools adds ICE’s pre-trade prices for fixed income

Rick Steves

“Increased price volatility in bond markets has been a valuable reminder about the importance of providing more transparency into the markets we serve.”

Intercontinental Exchange has made available its streaming Continuous Evaluated Pricing (CEP) for fixed income securities on the Investortool’s Dealer Network (IDN) in Perform.

The move offers institutional investors and private wealth managers streaming evaluations and related trading analytics to help drive trading strategies and investment decision-making.

Pre-trade transparency supports price discovery and idea generation

Jon Anderson, Chief Product Officer and Co-Head at Investortools, said: “Increased price volatility in bond markets has been a valuable reminder about the importance of providing more transparency into the markets we serve. ICE’s streaming pre-trade prices will make it easier for our clients to quickly discover opportunities in the market and achieve a low touch, electronic trading workflow.”

Amanda Hindlian, President of Fixed Income and Data Services at ICE, said: “Fixed income markets have traditionally been more opaque with wider spreads than other asset classes. With ICE’s CEP, we’re now able to offer companies like Investortools and their customers intra-day streaming evaluations for a much broader universe of fixed income securities. When paired with our analytics, investors and traders have a powerful tool for evaluating securities and portfolios and making trading decisions.”

Peter Borstelmann, President of ICE Bonds, commented: “Pairing Perform’s analytics with ICE’s streaming evaluations and ICE Bonds’ deep liquidity pools gives users of the IDN a truly unique opportunity to manage their risk management and trading needs. We’re excited to work with Investortools to launch this next stage of connectivity.”

ICE’s CEP provides front, middle and back-office professionals with streaming intraday evaluations for U.S. Municipal, Corporate, emerging market and sovereign bonds, as well as agencies, TBA Mortgages, MBS Pass-throughs and Money Market securities.

CEP offers greater pre-trade transparency, which supports price discovery and idea generation.

Investortools to add indicators on depth, sentiment, liquidity, TCA

Investortools also plans to add access to additional fixed income trading analytics from ICE, including:

  • Continuous Market Depth Indicators (CDMI) – provides perspective on the number of sources quoting a security as well as the number of trades executed on the security.
  • Market Sentiment Scores – intended to help clients identify when there may be greater dislocation and differences of opinion in the market as to what an asset’s value may be.
  • ICE Liquidity Indicators – provides an independent, near-term view of relative liquidity, including the ability to exit a position at or near the current value.
  • Best Execution & TCA – for measuring bond trade execution quality and trading effectiveness across a growing number of venues and protocols.

The addition of ICE’s data and analytics on Perform builds on the two companies’ prior integration to the ICE Bonds execution platforms on the Investortools Dealer Network.

This connectivity gives Investortools’ customers access to ICE Bonds’ deep liquidity pools for Municipal Bonds via trading protocols including click-to-trade, portfolio trading and request for quote. ICE Bonds also provides markets for Corporates, Treasuries, Agencies and Certificates of Deposit.

Perform offers end-to-end portfolio management including trade allocation, compliance, trade messaging and performance attribution to global institutional and private wealth managers. Customers also operate in a straight-through-processing environment, with Perform providing pre-trade analytics and compliance, and trading through ICE’s Bond’s execution platform.

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