IntercontinentalExchange (NYSE: ICE), a leading operator of global markets and clearing houses, today announced that its post-trade workflow tool for the global credit default swap (CDS) market, ICE Link, is now available on Cetip’s bond trading platform, Cetip|Trader. ICE Link provides operational efficiency to the post-trade workflow, making these activities faster, safer and more standardized.
In recent years the Brazilian bond market has been dominated by non-standardized post-trade processes. ICE Link executes essential procedures of the post-trade workflow such as exchange of accounts allocation, confirmation and integration of the complete transactional data to clients’ internal systems and Cetip’s registration systems for corporate bonds and SELIC for government bonds.
“A growing fixed income market requires evolution to become more responsive and efficient. Cetip, as a market integrator, is focused on providing solutions that meet the needs of the Brazilian market and contribute to gains in operational efficiency,” said Carlos Ratto, Cetip’s Commercial and Products Executive Officer of Securities and Marketing and Communications Executive Officer.
“ICE Link is already a widely used tool in the CDS global market and was 100% adapted to Brazil,” said Ricardo Vit, Cetip’s Transactional Products Manager. “Its implementation will streamline the front-to-back office workflow and will help solve several post-trade issues in trading Brazilian securities.”
ICE Link is the most widely adopted post trade affirmation service for CDS. It provides connectivity to more than 800 market participants. ICE Link’s connectivity and workflows were tailored to the needs of Brazilian institutions that operate in the fixed income market, including banks, brokers and fund managers.
