ICE expands ETF hub with FIX connectivity and multi-order trading

ICE launched its ETF Hub last year in a bid to standardise the creation and redemption process for ETFs.

US exchange group ICE has bolstered its exchange traded funds (ETFs) hub with the launch of FIX connectivity and multi-order functionality.

ICE has rolled out a FIX API (application programming interface) to allow authorised participants to connect to the ETF Hub platform to manage create/redeem orders in an automated way. The multi-order functionality will also enable authorised participants to submit multiple transactions as one order for greater efficiency and to reduce potential human error.

“These new enhancements provide our customers much greater levels of standardisation and efficiency both in the way that they connect with ICE ETF Hub and process creation and redemption orders,” said Peter Borstelmann, head of ICE ETF Hub. “We are working closely with our customers to continue delivering key functionality to improve the ETF primary market trading workflow, which has been a critical part of our mission from the start.”

ICE ETF Hub was launched last year and designed in consultation with issuers, authorised participants, market makers and custodians to offer a more standardised and automated process for assembling and placing creation and redemption baskets. The open architecture, primary market platform aims to standardise and simplify ETF creation and redemption.

It currently supports US-listed domestic equity and fixed income ETFs, but ICE plans to expand this later in the year to support US-listed international equity ETFs. It will also provide connectivity to ICE Bonds trading protocols, including click-to-trade and request for quote.