ICE to Launch Secondary Whole Loan Trading Platform in Push for Mortgage Market Transparency

Intercontinental Exchange (ICE) plans to introduce a secondary whole loan trading platform in the second half of 2025, leveraging its mortgage data to enhance transparency in capital markets. Ben Jackson, president of ICE and chair of ICE Mortgage Technology, emphasized the firm's strategy to automate mortgage processes and meet growing demand for digital-first solutions.

The initiative builds on ICE's recent acquisition of Black Knight, a housing finance analytics firm, following earlier purchases of Ellie Mae, Simplifile, and MERS. These acquisitions FORM the backbone of ICE Mortgage Technology, which aims to streamline the mortgage lifecycle from origination to secondary markets.

In April 2025, ICE rolled out a request-for-quote (RFQ) protocol for mortgages, signaling its broader push to modernize legacy systems. "We're building an end-to-end digital mortgage platform spanning customer acquisition through secondary markets," Jackson stated during ICE's Q2 earnings call.