ICE Bonds and BlackRock Aladdin offer fixed income portfolio auction to buy side

Dan Barnes

Market operator Intercontinental Exchange (ICE), has integrated its ICE Bonds integrated with BlackRock’s Aladdin portfolio and order management system (OMS) to offer access to ICE Bonds’ Portfolio Auction functionality, an automated execution protocol for portfolio trading.

ICE Bonds’ Portfolio Auction allows investment managers to auction a portfolio of bonds on an all-or-nothing basis to one or multiple platform participants in a discrete, pre-determined period of time.

Portfolios may consist of any number of individual bonds and may be all buys or all sells or a combination of both. Portfolio Auction offers two distinct trading session formats, At-the-Market or At-the-Close, giving investment managers the ability to leverage either ICE Data Services’ Continuous Evaluated Pricing (CEP) or End-of-Day Evaluations. By connecting with Blackrock’s Aladdin, investment managers can now access and execute orders using the ICE Bonds Portfolio Auction, potentially reducing operational risk and increasing workflow efficiencies.

Marshall Nicholson, president, ICE Bonds

“The addition of this auction protocol to ICE Bonds’ existing RFQ and Central Order Book protocols will give traders a more efficient method to buy or sell a basket of bonds, which compliments the workflow of the ICE ETF Hub, our innovative, open architecture solution supporting the primary market for ETF trading,” said Marshall Nicholson, president of ICE Bonds, which offers trading in corporate, municipal, Treasury and agency debt, as well as structured products and certificates of deposit. It also provides continuous and end-of-day fixed income pricing and analytics, which are already available to customers over Aladdin.

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