ICE Enhances Corporate Bond Trading with Price Improvement Volume Clearing

Intercontinental Exchange (ICE) has introduced a patent-pending enhancement to its ICE Bonds’ Risk Matching Auction (RMA) protocol, dubbed Price Improvement Volume Clearing. This innovation aims to deepen liquidity and improve pricing outcomes for corporate bond traders.

The RMA protocol, which conducts multiple dealer-to-dealer sweep auctions weekly, has already seen strong adoption with over 66 registered firms and 700+ active users. The new feature builds on the success of ICE Bonds’ daily sweep auctions, helping uncover residual interest and execute additional volume.

This development reflects the ongoing evolution of institutional trading infrastructure, though it does not directly impact cryptocurrency markets. The corporate bond market’s increasing sophistication may eventually influence crossover interest in digital asset trading platforms.