An automated solution to execute a portfolio of bonds. Portfolio Auction (PA) is an automated execution protocol for portfolio trading that enables the seamless auction and trade of a portfolio of bonds. The platform automates the trading workflow, from staging the order through to execution and reporting, reducing operational risks and creating efficiencies.
Streamline your trading workflow with the ability to trade an entire portfolio of bonds on a single platform. By having a centralised platform with all competing quotes coming in simultaneously the average execution time is under 25 minutes.
There is no limit to the number of dealers a portfolio manager can invite to price a portfolio, providing a wide pool of liquidity providers.
Automating your trading workflow on one platform reduces operational risk and provides an audit trail of the trade. Plus, the ability to package both liquid & illiquid bonds in one trade provides better execution & manages risk within the portfolio as opposed to selling each bond on an individual basis.
Portfolios may consist of any number of individual bonds and may be all buys or all sells or a combination of both.
Price, spread or mixed price and spread-based auctions supported. In spread terms users have the ability to cross or spot (current / delayed available).
Thresholds can be set on both overall MV of portfolio and/or individual line items.
Users can select a benchmark of their choice as a guide for dealers or leverage ICE Data Services’ Continuous Evaluated Pricing (CEP™) or End-of-Day Evaluations.
Simple dashboard view allows the user to easily monitor all responder’s prices side by side.
Depending on your preference the auction can be run ‘At the Market’ with current market prices or ‘At the Close’ utilizing ICE Data Services End-of-Day Evaluations.
ICE Bonds is integrated into BlackRock’s Aladdin, offering access to the Portfolio Auction functionality. Aladdin is a premier portfolio management system for investment managers that combines sophisticated risk analytics with comprehensive trading and position monitoring tools.
By connecting with Blackrock’s Aladdin, investment managers can seamlessly access and execute orders using the ICE Bonds Portfolio Auction, reducing operational risk and increasing workflow efficiencies.
The electronification of fixed income markets is accelerating. New regulation, the explosion of data, reaction to COVID-led volatility, and demand for greater efficiency will continue to drive change. Join us alongside industry experts for an interactive series of webcasts.
It’s a dynamic transforming bond markets: the ability to move large, multi-faceted bond portfolios fast and with precision. Portfolio trading now comprises nearly 5% of total bond market trading volumes, around three times the amount in previous years, according to TRACE estimates.