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Intercontinental Exchange, Inc. (NYSE:ICE), a leading operator of global exchanges and clearing houses and provider of data and listings services, today announced that creation and redemption activity on ICE ETF Hub continued to increase throughout the first quarter of 2020, supported partly by new ETF Hub community members and functionality.
During the first quarter of 2020, over $136 billion in notional value was processed over ICE ETF Hub. In March alone, Authorized Participants (APs) processed a record $87 billion in notional value through the platform, compared to $27 billion in February, an increase of over 220%. A majority of the activity was in Fixed Income, where APs processed $63 billion in notional value, up 208% from February. For Equities, APs processed $24 billion in notional value in March, up 267% month over month.
This growth was supported by increased utilization from existing APs, the addition of Goldman Sachs as a new AP, and the launch of new multi-order functionality and Financial Information eXchange (FIX) access, which offered additional operational efficiencies to our customers. In the second quarter, ICE plans to launch functionality for the assembly of custom baskets in a more automated way via APIs, ICE Chat and ICE ETF Hub’s front-end user interfaces. Access to ICE Bonds for secondary market cash bond execution and support for US-listed international equity ETFs is planned for later in 2020.
“Although we experienced significant volatility across both equity and bond markets in March, customers have expanded their usage of the ETF Hub as they have realized new gains in efficiency and stability from the platform,” said Peter Borstelmann, Head of ICE ETF Hub. “The functionality we launched earlier this year and the innovative support for custom baskets that’s planned for later this quarter offer powerful new tools and additional transparency for our customers.”
ICE ETF Hub launched on October 21, 2019 and has been 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. It currently offers support for both US-listed domestic equity and fixed income ETFs.
For more information about ICE ETF Hub, please visit: www.theice.com/etf-hub.
