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Intercontinental Exchange, Inc. (NYSE: ICE), a leading global provider of data, technology, and market infrastructure, today announced that its streaming Continuous Evaluated Pricing (CEP™) for fixed income securities will now be available on the Investortool’s Dealer Network (IDN) in Perform, offering institutional investors and private wealth managers streaming evaluations and related trading analytics to help drive trading strategies and investment decision-making.
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.
“Increased price volatility in bond markets has been a valuable reminder about the importance of providing more transparency into the markets we serve,” said Jon Anderson, Chief Product Officer and Co-Head at Investortools. "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.”
As part of this agreement, 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.
“Fixed income markets have traditionally been more opaque with wider spreads than other asset classes,” said Amanda Hindlian, President of Fixed Income and Data Services at ICE. “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.”
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.
“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,” said Peter Borstelmann, President of ICE Bonds. “We’re excited to work with Investortools to launch this next stage of connectivity.”
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.
For more information about ICE Bonds, please visit: https://www.theice.com/fixed-income/ice-bonds.
