ICE Expands Fixed Income Liquidity Offering with Relaunch of Enhanced Sweeps Protocol for Corporate Bonds

Intercontinental Exchange, Inc. a global provider of data, technology, and market infrastructure, announced the relaunch of ICE Risk Matching Auction (RMA), an enhanced sweeps session-based protocol for dealer-to-dealer fixed income trading. ICE RMA, which was initially launched in 2015, is part of the ICE Bonds’ suite of trading protocols, and now conducts multiple auctions each week, with 50 registered firms and over 400 users with access to the protocol. With ICE RMA, after traders upload their inventory of bonds, an ICE proprietary algorithm matches buyers and sellers of the same bond or list of bonds. The protocol leverages ICE’s Continuous Evaluated Pricing (CEP™) to propose a pricing level for the bonds, which traders can either affirm or reject on a line-item basis or in bulk. ICE Bonds offers growing pools of liquidity and multiple trading protocols including click-to-trade, request-for-quote, sweeps and portfolio auctions for U.S. Municipal, Corporate, Treasury, Agency, MBS Pass-throughs, emerging market and sovereign bonds and certificates of deposit. ICE’s CEP provides front-, middle- and back-office professionals with streaming intraday fixed income evaluations and offers greater pre-trade transparency for price discovery and idea generation.