New RFQ Protocol provides enhanced liquidity, flexibility and efficiency for MBS trading

ICE Bonds, part of Intercontinental Exchange, a leading global provider of technology and data, announced the launch of a new Request-for-Quote (RFQ) protocol for Mortgage-Backed Securities (MBS). This new functionality sits alongside ICE Bonds’ existing MBS Click-to-Trade marketplace and allows clients to send MBS RFQs within ICE TMC’s anonymous trading pool.

The ICE TMC platform now offers an enhanced suite of execution capabilities for MBS trading, providing wealth management and retail brokerage clients with a more flexible and efficient trading environment. This new RFQ feature complements the platform’s existing Click-to-Trade functionality, driving increased liquidity and execution efficiency in the MBS market.

“The addition of RFQ trading meaningfully enhances our MBS offering, expanding the ways our clients can access liquidity and engage with the market,” said Pete Borstelmann, President of ICE Bonds. “The launch of our RFQ protocol represents a key step forward in electronification of a traditionally voice and message driven market, supporting more efficient price discovery while giving customers greater flexibility to execute trades aligned with their evolving strategies.”

Later this year, ICE Bonds plans to integrate pricing and analytics from ICE Mortgage Technology (IMT) to help traders make more informed trading decisions. The combination of MBS execution on ICE TMC with IMT’s real estate solutions, including customer acquisition, loan manufacturing, servicing, and settlement, offers a unified platform for trading the MBS asset class.

ICE TMC, operated by ICE Bonds, is a leading anonymous all-to-all alternative trading system (ATS) for executing municipal, corporate, agency, and government bonds, as well as mortgage-backed securities and Certificates of Deposit. ICE TMC is part of ICE Bonds, which provides expanding fixed-income liquidity and diverse execution protocols across various asset classes.

For more information about ICE TMC, visit https://www.ice.com/fixed-income-data-services/fixed-income/ice-bonds/ice-tmc

Source: ICE