ICE Credit Trade offers dealer to dealer trading for investment grade and high yield corporate bonds and is available through the Creditex electronic execution platform. With ICE Credit Trade, clients can access a unique session-based protocol, known as Risk Matching Auctions (RMAs) to efficiently trade and collapse their risk exposure.
ICE Data Services’ Continuous Evaluated Pricing (CEP) offering is integrated into the ICE Credit Trade RMAs. CEP provides continuous, independent evaluated pricing for fixed income instruments, covering more than 2 million securities. With RMA, dealers upload their inventory, and the RMA algorithm identifies off-setting risk to propose trades based on submitted limit orders for larger lots or on CEP for smaller lots. This allows dealers to efficiently transact in smaller line items, while allowing them to focus on larger transactions.
ICE Credit Trade is operated in the US by Creditex Securities Corporation, an Alternative Trading System and a broker-dealer registered with the U.S. Securities and Exchange Commission and a member of the Financial Industry Regulatory Authority. In the UK and Asia, ICE Credit Trade is operated by Creditex Brokerage LLP, a MiFID investment firm and operator of a Multi-lateral Trading Facility, authorized and regulated by the UK Financial Conduct Authority (FRN 441360).
Creditex offers the leading electronic venue for trading credit default swaps (CDS) and corporate bonds.
CEP provides continuous, independent evaluated pricing for fixed income instruments, covering more than 2 million securities.
ICE leveraged its OTC market history with its credit expertise to become a leader in trade processing and risk management for the global CDS market.