Trading Technologies taps ICE prices for fixed‑income EMS

Trading Technologies has agreed to integrate ICE Data Services’ evaluated prices and its Continuously Evaluated Price (CEP) feed into a new buy‑side fixed‑income execution management system (EMS) due to launch later this year. The EMS will run natively on Trading Technologies’ multi‑asset platform and will initially cover US dollar interest‑rate and credit products.

ICE reference data and end‑of‑day evaluations will be used to support pricing across more than 3 million fixed‑income instruments. Trading Technologies plans to offer the CEP market data feed to clients so they can receive continuously updated evaluated prices alongside existing market data and execution tools.

The agreement gives Trading Technologies access to ICE’s evaluated prices and reference datasets for use in price discovery and post‑trade workflows within the EMS. The system is designed to allow buy‑side users to work with fixed income using the same trading widgets and post‑trade services they use for futures, options and foreign exchange on the TT platform.

Trading Technologies will demonstrate the EMS this week at the Fixed Income Leaders Summit in Boston ahead of the formal launch. The summit draws about 1,000 attendees from roughly 300 companies and includes hands‑on demonstrations and client feedback sessions.

ICE Data Services supplies global multi‑asset reference data, evaluated prices and valuation services. The company says its fixed‑income evaluations and reference data cover more than 3 million instruments and are used across the trade lifecycle for pricing, risk and regulatory purposes. The CEP feed provides continuously updated evaluated prices intended for trading and monitoring in markets with sparse live tradable prices.

Chris Heffernan, EVP and managing director for Fixed Income at Trading Technologies, said the EMS will place fixed income alongside futures and FX on a single screen to enable cross‑asset trading. Mark Heckert, chief operating officer of Data Services at ICE, said the integration will add ICE’s End of Day Evaluated Prices, CEP and reference data into the new buy‑side EMS.