J.P. Morgan Integrates With ICE ETF Hub Creating Connectivity for Its ETF Issuers
ATLANTA & NEW YORK (STL.News) Intercontinental Exchange, Inc. (NYSE: ICE), a leading global provider of data, technology, and market infrastructure, today announced that J.P. Morgan’s Securities Services has integrated with ICE ETF Hub to facilitate connectivity for its ETF issuers.
“The integration of J.P. Morgan’s Securities Services business into the ETF Hub builds on our mission of improving ETF workflows by establishing connectivity for ETF issuers,” said Peter Borstelmann, President of ICE Bonds. “This integration broadens the ETF Hub’s community and brings greater efficiencies to our customers.”
ICE ETF Hub continues to bring efficiencies to primary trading workflows by providing market participants with open architecture technology, which simplifies and standardizes the process for ETF creation and redemption. The solution supports equity and fixed income ETFs and allows authorized participants to use a FIX application programming interface (API) to systematically manage the creation and redemption process, offering users an end-to-end, fully electronic workflow. The ETF Hub has supported over $1.5 trillion in notional create/redeem orders since its inception.
“As demand for negotiated baskets continues to grow, adopting and using proven infrastructure to support that momentum is critical,” said Fearghal Woods, Global Head of ETF Product in Securities Services at J.P. Morgan. “The ICE ETF Hub provides our customers with access to innovative workflows that help improve the negotiation process and further expand our support capabilities in fixed income. We are pleased to be deepening our relationship with ICE, as together we continue to modernize and bring additional efficiencies to the ETF ecosystem.”
J.P. Morgan serves as the administrator, custodian, and ETF service provider to various ETF issuers. Its ETF servicing platform supports 40 Authorized Participants and over 400 traders globally, processing over $200B in net create/redeem flows annually. J.P. Morgan is a marketing name for the Securities Services businesses of JPMorgan Chase Bank, N.A., and its affiliates worldwide.