Credit Suisse Joins ICE ETF Hub
Intercontinental Exchange, Inc., a leading operator of global exchanges and clearing houses and provider of data and listings services, announced that Credit Suisse has joined the ICE ETF Hub as an authorized participant and has become a member of the advisory committee for the platform.
Credit Suisse brings unparalleled expertise in international equity markets to our growing community of ICE ETF Hub participants. ICE ETF Hub provides infrastructure to boost efficiency and standardization across the ETF marketplace.
— ICE (@ICE_Markets) June 29, 2020
“Credit Suisse brings an unparalleled level of expertise in international equity markets to our growing community of ETF market participants,” said Peter Borstelmann, Head of ICE ETF Hub. “Their unique perspectives will offer a valuable contribution as we continue to expand the breadth of products and functionality offered on the platform.”
ICE ETF Hub has been developed as an industry-wide, open architecture, primary market technology solution for ETFs, which forms a more standardized and simplified process for ETF creation and redemption. It currently supports both US-listed domestic equity and fixed income ETFs.
“As the ETF market continues to grow in both size and complexity, it’s critical that more electronification and standardization be applied to the ETF primary market,” said Jim McKeever, Head of Program Trading Americas and ETF Create Redeem at Credit Suisse. “We look forward to working with the members of the ICE ETF Hub advisory committee as they bring more efficiency to the creation and redemption process.”
ICE recently launched functionality for the assembly of custom baskets in an automated way via APIs and ICE ETF Hub’s front-end user interfaces, and ICE Chat functionality is planned to launch in the third quarter of 2020. Connectivity between ICE ETF Hub and ICE FI Select for integrated secondary market cash bond execution is also planned to launch during the third quarter, and support for US-listed international equity ETFs is planned for later in 2020.
Amazon Web Services will be first be available across Global Wealth & Personal Banking.
JP Morgan's fixed income markets revenue was $7.3bn, up 99% year-on-year.
Citi will provide outsourced middle office services through Aladdin Provider.
The pre-trade lifecycle can be cut from hours to seconds using existing bots.
For the sell side, remote working has proved possible, but not without its hurdles, Integral CRO writes.