Trading Technologies (TT) has entered an agreement with ICE Data Services, in a move which will leverage ICE’s market and reference data to power a new buy-side fixed income execution management system (EMS).
Chris Heffernan
The EMS is currently set to launch later this year and will be natively integrated within TT’s multi-asset platform.
Additionally, the offering will initially focus on USD rates and credit products, and is expected to allow clients to leverage trading widgets and post-trades services currently in operation for futures, options and FX products, to allow for consistency and familiarity across these capabilities.
Chris Heffernan, executive vice president, managing director, fixed income of TT, said: “The launch of our new buy-side fixed income EMS, powered by premier ICE data, marks a major milestone for the TT platform.
“By unifying fixed income, futures and FX on a single screen, we are giving clients direct access to the industry’s most sophisticated, award-winning execution tools, and unlocking unprecedented cross-asset trading possibilities.”
Read more – Trading Technologies expands access to New Zealand through NZX tie-up
In addition, the integration also enables TT users to make use of ICE’s ‘continuously evaluated price’ (CEP) market data feed.
Mark Heckert, chief operating officer, data services, at ICE said: “Our fixed income evaluations and reference data on over 3 million instruments are used throughout the trade lifecycle and may become a valuable resource for users of the new platform.”
Targeting buy-side fixed income desks has been a core focus for ICE in recent months, and at the beginning of June, the firm launched a new AI-powered trading analytics platform – ICE Compass – tailored for the buy-side.
The solution, exclusively revealed by The TRADE at the time, gives desks prioritised trader counterparty rankings and price estimates before executing trades.