Intercontinental Exchange, Inc. (ICE) - Get Report, a leading operator of global exchanges and clearing houses and provider of data and listings services, today announced that JP Morgan Asset Management has joined the ICE ETF Hub advisory committee as a development partner for the platform.
"J.P. Morgan Asset Management will bring its recent expertise in building a suite of ETFs to our platform," said Peter Borstelmann, Head of ICE ETF Hub. "As we launch new functionality, they will add valuable insights and experience to the process - particularly as we continue to roll out support for custom baskets."
Working closely with the community of issuers, authorized participants, market makers and custodians, ICE ETF Hub was created as an open architecture platform designed to bring efficiencies and standardization to the ETF primary trading market, where shares of ETFs are created and redeemed. It currently offers support for both US-listed domestic equity and fixed income ETFs.
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 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.
"As an issuer serving fast-growing ETF markets, we're aware of the critical need for a robust infrastructure for the primary market that can support our customers' needs for both investment returns and innovation," said Joanna Gallegos, Global Head of ETF Strategy at J.P. Morgan Asset Management. "The ICE ETF Hub advisory committee is squarely focused on improving that infrastructure and we look forward to helping pursue greater efficiencies to the ETF market."
For more information about ICE ETF Hub, please visit: www.theice.com/etf-hub.
About Intercontinental Exchange
Intercontinental Exchange (ICE) - Get Report is a Fortune 500 company formed in the year 2000 to modernize markets. ICE serves customers by operating the exchanges, clearing houses and information services they rely upon to invest, trade and manage risk across global financial and commodity markets. A leader in market data, ICE Data Services serves the information and connectivity needs across virtually all asset classes. As the parent company of the New York Stock Exchange, the company is the premier venue for raising capital in the world, driving economic growth and transforming markets.
Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located at http://www.intercontinentalexchange.com/terms-of-use. Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading "Key Information Documents (KIDS)."
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 -- Statements in this press release regarding ICE's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2019, as filed with the SEC on February 6, 2020.
* An Authorized Participant is an institutional firm authorized by an ETF issuer to facilitate creations or redemptions of ETF shares.
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