The Intercontinental Exchange, or ICE, is known across the world as an international operator of multiple exchanges, a data provider, a listing services, and house clearing provider. Today, Intercontinental Exchange Inc has made an announcement in regards to two key upgrades it will do to both the Multi-Order Functionality and FIX Connectivity of its ICE ETF Hub platform.

ICE ETF Hub Receives An Upgrade

The ICE ETF Hub platform has launched a new application programming interface or API. This API is that of the Financial Information eXchange, or FIX, which will allow Authorized participants to gain access to the ICE ETF Hub platform. From there, Authorized Participants will be capable of managing create/redeem orders through a seamless, automated format.

With the latest addition to ICE ETF Hub’s functionality, it becomes the first platform that can offer access to FIX to both its Issuers and its Authorized participants. Something that’s undoubtedly very pleasing to the ICE Team. The global financial market leverages the FIX protocol itself to communicate trade information while completing millions of transactions every day.

Supporting Multi-Order Listings

ICE ETF Hub offers a new Multi-order functionality, as well. With this, Authorized Participants are capable of submitting multiple transactions to an Issuer of ETFs, bundled up in one harder. This will enhance the efficiency of operations while cutting transaction times down to seconds. The feature limits the window for possible human error, as well.

Back in December of 2019, Ice had announced that it would add another functionality to the ICE ETF Hub. This was to support its US-based listings of exchange-traded funds (ETFs) that work on a fixed income basis. The feature allows for authorized participants to submit orders, creation, or redemption types, for a fixed income ETF. The feature includes order types that contain corporate bonds, municipal bonds, domestic and international government bonds, as well as mortgages.

Aiming To Serve International Niches

ICE ETF Hub was developed and is still being developed as time goes on, to serve as an open architecture, primary market platforms for ETFs that stretches across the industry. The vision for ICE ETF Hub was to create a simplified, standardized process for both the creation and the redemption of ETFs. As it stands now, the platform offers its support to both fixed-income ETFs, as well as domestic equities ETFs, both listed from the US. The platform is planned to launch support for other features as well, like the assembly of custom baskets, as well as international equity ETFs based on US-listings, within 2020.