U.S. exchange giant Intercontinental Exchange Inc. (a.k.a. ICE) is consolidating its trio of fixed-income execution platforms into a single group, to be known as ICE Bonds.
ICE announced today that it is merging ICE BondPoint, TMC Bonds and ICE Credit Trade under a single management team, and says that it intends to consolidate the trading systems under a single broker/dealer later this year, subject to regulatory approval.
The firm says that the new structure will enable it to provide clients with access to deep liquidity, multiple trading protocols and a wide array of fixed-income data and analytics.
“As fixed-income markets continue to evolve, bringing our execution platforms under a single structure and leadership team allows us to focus our efforts and provide our customers with a wide array of tools to accurately value bonds, find inventory, efficiently trade and manage risk,” said Ben Jackson, president of ICE, in a release.
“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,” added Marshall Nicholson, president of ICE Bonds, who is leading the initiative.
Nicholson is joining ICE from Millennium Advisors, a fixed-income broker/dealer, where he was president.