ICE launches AI-powered fixed income trading analytics platform

Intercontinental Exchange Inc. (NYSE: ICE) announced the launch of ICE Compass, an AI-powered trading analytics platform designed for buy-side fixed income trading desks. The platform provides prioritized trader counterparty rankings and price estimates before executing trades.

T. Rowe Price has signed on as an anchor client after participating in the development process and beta testing, according to the company's press release statement.

ICE Compass enables customers to combine their real-time and historical trading data with ICE's market data and pricing streams. The platform processes millions of bids, offers, indications of interest and other pricing data points received from trading counterparties daily. The model tracks intraday market movements, trading costs and trading behaviors to generate estimates for counterparty selection and pre-trade cost analysis.

The platform is built on ICE's data assets, including ICE Continuous Evaluated Pricing, fixed income liquidity metrics and indices. The system's data model improves over time as new trading data is incorporated.

"At T. Rowe Price, we are focused on using data, technology, and market insight to make faster, more informed trading decisions and enhance execution outcomes for our clients," said Dwayne Middleton, Global Head of Fixed Income Trading at T. Rowe Price.

ICE provides fixed income evaluations on approximately three million instruments and offers indices across all asset classes with $2 trillion in assets under management benchmarked to them. The company operates futures, equity and options exchanges including the New York Stock Exchange, and provides clearing houses and data services.

You May Also Be Interested In

• Alphabet added to Dow Jones Industrial Average, Verizon dropped
• ConAgra Brands board member Chirico to step down at annual meeting
• Ian Wendler to retire from Jewett-Cameron board by July 31