ICE Debuts Consolidated Bond Business

The Intercontinental Exchange (ICE) announced the launch of ICE Bonds, which offers access to deep liquidity pools, multiple trading protocols and a breadth of fixed income data and analytics. ICE Bonds brings together ICE BondPoint, TMC Bonds and ICE Credit Trade under a single management team and will leverage both the continuous and end-of-day fixed income pricing and analytics offered by ICE Data Services. ICE Bonds offers multiple anonymous and disclosed trading protocols, including click-to-trade, request-for-quote and portfolio auctions; providing access to Corporates, Municipals, Treasuries, Agencies and Certificates of Deposit. ICE has appointed Marshall Nicholson as president of ICE Bonds to lead this new offering. Before joining ICE, Nicholson was President of Millennium Advisors, a technology-driven broker dealer serving the fixed income markets and, before that, was Managing Director and President of BondPoint, which was part of KCG Holdings. Tom Vales will report to Nicholson as COO of ICE Bonds and will continue in his role as head of TMC Bonds. The three automated trading systems will continue to be operated by TMC Bonds L.L.C. and Creditex Securities Corporation for the time being. However, ICE intends to consolidate the trading systems under a single broker-dealer later this year, subject to regulatory approval.