Intercontinental Exchange, Inc.’s (ICE - Analyst Report) affiliate, ICE Data Services, recently expanded coverage for its Best Execution service to include sovereign and corporate bonds in Europe, Middle East and Africa (EMEA). Best Execution was launched in EMEA owing to European regulators’ need to extend transparency in fixed income securities.
Best Execution utilizes Intercontinental Exchange’s fixed income Continuous Evaluated Pricing to measure top notch execution. The service provides a trade-by-trade measure of execution quality relative to comparable market deals. The service offers a superior level of transparency into the fixed income markets, thereby satisfying clients’ growing risk management needs.
According to Markets in Financial Instruments Directive II (MiFID II) rules, investment firms need to keep a track of records that quantify the transaction quality of their competitors. Best Execution’s independent metrics help these firms to comply with MiFID II mandates. The service uses innovative analytics that assess the quality of execution of trades and cater to the rising demands of managing regulatory compliance requirements.
Best Execution uses an innovative scoring methodology to provide a percentile rank of trade against the comparable transactions in the marketplace. Hence, this service enables traders, portfolio managers and compliance officers to monitor trading activities across venues and protocols. Moreover, clients will be able to perform transaction cost analysis (TCA) in fixed income markets.
ICE Data Services provides a solid end-to-end solution for information, analytics and connectivity. It also offers a range of proprietary data and tools for global markets throughout fixed income, equities, commodities, foreign exchange and options.
Introduction of such services enable Intercontinental Exchange to boost its product and services portfolio, which in turn, should improve the securities exchange’s overall performance.
Stocks that Warrant a Look
National Interstate Corporation (NATL - Snapshot Report) , a specialty property and casualty insurer, delivered positive surprises in two of the last four quarters, with an average beat of 7.59%.
United Insurance Holdings Corp. (UIHC - Snapshot Report) , another P&C insurer, delivered positive surprises in two of the last four quarters, with an average beat of 37.97%.
Health Insurance Innovations Inc. (HIIQ - Snapshot Report) , a life insurer, delivered positive surprises in all of the last four quarters, with an average beat of 262.50%.
Confidential from Zacks
Beyond this Analyst Blog, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>