The Tradetech Daily

ICE Swap Trade

ICE Swap Trade

ICE Swap Trade offers trading of two asset classes: credit default swap (CDS) execution is available on an anonymous, all-to-all central limit order book as well as other execution methods. ICE also offers financially settled, bilateral OTC energy markets on a SEF.


In CDS, ICE Swap Trade offers North American and
European indices, options, and tranches. Execution methods include central
limit order book, request-for-quote, request-for-cross, and block, with
multiple dealers streaming firm prices.

ICE Swap Trade has not submitted a made-available to trade


Participants must abide by the ICE Swap Trade
rulebook and can access ICE SEF through the firm’s graphic user interface
(GUI), application program interface (API), or independent software platforms
(ISVs). ICE SEF is an anonymous all-to-all marketplace so it is suited for all


ICE Swap Trade offers various programs to support
liquidity and has multiple liquidity providers on the platform providing firm


Margining is subject to central counterparty (CCP)
requirements. ICE Swap Trade offers connectivity options, including GUI, direct
API, and dealer platforms/ISVs. It offers turnkey, lifecycle solutions from
execution to post-trade processing to clearing and repository. Open access
supports multiple CCPs and affirmation platforms.

Future plans

ICE Swap Trade offers participants an integrated marketplace where they can execute under a variety of trade protocols.