Citi Joins ICE ETF Hub As An Authorized Participant
September 22 2020 - 8:30AM
Business Wire
Intercontinental Exchange, Inc. (NYSE:ICE), a leading operator
of global exchanges and clearing houses and provider of mortgage
technology, data and listings services, today announced that Citi
has joined the ICE ETF Hub as an authorized participant. Citi was a
founding member of the ICE ETF Hub advisory committee, providing
early feedback on the design of the platform.
“As an early member of our advisory committee, Citi has provided
valuable insights and constructive guidance, which have been
critical in improving the platform and bringing more efficiencies
to the ETF primary market. Because of this, we’re particularly
excited to have them join the platform as an authorized
participant,” said Peter Borstelmann, President of ICE Bonds and
Head of ICE ETF Hub.
ICE ETF Hub is an industry-wide, open architecture, technology
solution, offering a more standardized and simplified process for
the creation and redemption of ETF shares. It currently supports
both US-listed domestic equity and fixed income ETFs.
“Having an efficient and automated creation and redemption
process is critical for the effective functioning of global ETF
markets,” said John Mann at Citi. “ICE ETF Hub provides a
standardized way to respond to orders, and the new custom basket
technology gives us more flexibility for screening, communicating
and assembling custom baskets.”
ICE ETF Hub recently launched new automated functionality
allowing ETF primary market participants to negotiate and assemble
custom basket proposals. This functionality helps fixed income
market participants transition away from the many manual, bespoke
processes in use today, increasing scale and reducing operational
risk through standardization and automation.
Support for US-listed international and EMEA listed equity ETFs
is planned to launch in 2021.
For more information about ICE ETF Hub, please visit:
www.theice.com/etf-hub.
About Intercontinental Exchange
Intercontinental Exchange (NYSE: ICE) is a Fortune 500 company
formed in the year 2000 to modernize markets. ICE serves customers
by operating the exchanges, clearing houses and information
services they rely upon to invest, trade and manage risk across
global financial and commodity markets. A leader in market data,
ICE Data Services serves the information and connectivity needs
across virtually all asset classes. As the parent company of the
New York Stock Exchange, the company is the premier venue for
raising capital in the world, driving economic growth and
transforming markets.
Trademarks of ICE and/or its affiliates include Intercontinental
Exchange, ICE, ICE block design, NYSE and New York Stock Exchange.
Information regarding additional trademarks and intellectual
property rights of Intercontinental Exchange, Inc. and/or its
affiliates is located at
http://www.intercontinentalexchange.com/terms-of-use. Key
Information Documents for certain products covered by the EU
Packaged Retail and Insurance-based Investment Products Regulation
can be accessed on the relevant exchange website under the heading
“Key Information Documents (KIDS).”
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995 -- Statements in this press release regarding
ICE's business that are not historical facts are "forward-looking
statements" that involve risks and uncertainties. For a discussion
of additional risks and uncertainties, which could cause actual
results to differ from those contained in the forward-looking
statements, see ICE's Securities and Exchange Commission (SEC)
filings, including, but not limited to, the risk factors in ICE's
Annual Report on Form 10-K for the year ended December 31, 2019, as
filed with the SEC on February 6, 2020.
* An Authorized Participant is an institutional firm
authorized by an ETF issuer to facilitate creations or redemptions
of ETF shares.
ICE-CORP
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200922005358/en/
ICE Media Contact: Damon Leavell Damon.Leavell@theice.com
212-323-8587
ICE Investor Contact: Warren Gardiner
Warren.Gardiner@theice.com 770-835-0114
Intercontinental Exchange (NYSE:ICE)
Historical Stock Chart
From Aug 2024 to Sep 2024
Intercontinental Exchange (NYSE:ICE)
Historical Stock Chart
From Sep 2023 to Sep 2024