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ICE boosts execution and order management tools

02 April 2012  |  1357 views  |  0 Source: IntercontinentalExchange

IntercontinentalExchange (NYSE: ICE), a leading operator of regulated global futures exchanges, clearing houses and over-the-counter (OTC) markets, announced the successful release of WebICE version 12.600 as well as other ICE platform improvements, including additional support for customized trading strategies.

"The new features and functionality underscore ICE's commitment to providing market participants with the most comprehensive tools for trading in today's futures and OTC markets," said Mayur Kapani, ICE Vice President of Trading Technology. "These enhancements, combined with our innovative risk management infrastructure, give traders greater flexibility and confidence to execute."

WebICE is the proprietary, browser-based front-end to ICE's electronic trading platform, and is regularly updated in direct response to evolving customer and market requirements. With the new version, ICE is introducing the following features:

• Custom Spread Engine — This feature will give participants the ability to build customized strategies, view implied spread prices for these strategies and automatically execute them based on current prices for the individual legs. These enhancements will benefit users who frequently execute customized strategies, such as Condor, Box, or Butterfly across multiple products;
• Position Keeper — Market participants use the position keeper to monitor their positions and profit and loss across all their products traded on ICE. The key enhancements in this release are:

  • Ability to sort, sum and group positions by company, product, User ID, account;
  • Enhanced market price valuation;
  • Ability for risk managers to create and save customized groups;
  • Show spread transactions as spread positions.

• Interval Price Limitations (IPL) - ICE's circuit breaker functionality, was activated in US Dollar Index, Russell 2000 and Canola futures in March, was activated in ICE Futures Europe on April 2 and will be expanded to ICE's agricultural markets on April 9. ICE also published an IPL White Paper.
• Order Management — The platform will support reserve quantities on stop and good-till-canceled (GTC) orders as well as GTC orders on inter-product spreads, expanding order types and providing traders with greater flexibility.

The ICE platform offers access to both ICE futures and OTC markets through WebICE and API interfaces with sub-millisecond response times across all markets. WebICE users also benefit from free access to the industry's most comprehensive mobile trading tools available for iPhone, iPad, BlackBerry and Android phones. 

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