Intercontinental Exchange’s ICE Bonds and MarketAxess have unveiled plans to connect their respective liquidity networks in a bid to improve efficiency and access to deeper liquidity in fixed income markets.
Pete Borstelmann
The two firms plan to establish connectivity to their respective protocols and liquidity pools, with the move set to enable ICE Bonds’ automated trading system (ATS), ICE TMC, and MarketAxess’ Open Trading network to communicate with each other directly, enhancing depth and reach for users globally.
“This collaboration connects two mature liquidity networks in fixed income markets to offer new trading and risk management solutions for clients,” said Pete Borstelmann, president of ICE Bonds.
“By combining our complementary strengths, we aim to offer users expanded opportunities to access liquidity in corporate and municipal bonds, enhancing market efficiency and benefiting participants across both platforms.”
The interaction between these two liquidity pools aims to bolster price transparency, best execution and overall market liquidity for all users, through leveraging ICE Bonds’ retail brokerage and wealth management presence and MarketAxess’ institutional trading expertise.
Rich Schiffman, global head of trading solutions at MarketAxess, said: “We look forward to delivering enhanced value and innovation to our clients through this collaboration.Our joint efforts are focused on providing access to deeper liquidity across municipal and corporate bonds and diversifying trading options for participants in our marketplace.”