Cetip And IntercontinentalExchange Launch Fixed Income Trading Platform
IntercontinentalExchange (NYSE: ICE), a leading operator of global regulated futures exchanges, clearing houses and over-the-counter (OTC) markets, and Cetip S.A. — Latin America's largest private fixed income depository — today announced the launch of a Brazilian fixed income trading platform. The platform, Cetip | Trader, brings together electronic trading, voice confirmation, straight through processing and real-time and historical data in a single tool that will provide transparency, price formation, and workflow automation to Brazil's fixed income markets.
ICE is providing the technology for the platform, which provides users with five key functionalities:
- Electronic buy and sell orders that settle bilaterally
- Confirmation of voice trades through Cetip | Voice
- Request for Quote (RFQ), which allows secure pricing requests to multiple dealers
- Limit Order Volume Clearing (LOVC), a unique feature to provide price formation during an auction process
- Volume Clearing (VC), which helps participants increase trade volume after a level is defined by the market
In addition to advanced screen trading execution, the platform enables straight through processing, allocations processing, and depository registration via a version of ICE Link enhanced to support the Brazilian bond market.
"ICE was the natural choice to develop this tool with us because of its technology expertise and ability to adapt this platform to the Brazilian market," said Carlos Ratto, Cetip's Commercial, Products, Marketing and Communications Officer.