How ICE Compass works
Aggregate your data
Compass aggregates your dealer streams, trades, RFQs, IOIs, Axes and Runs in a dedicated cloud environment, hosted by ICE or within your own infrastructure.
Add ICE intelligence
Your data is enriched with ICE CEP™ intraday evaluations, liquidity metrics, reference data, ICE iNAV Calculations, ETFs prices, and FINRA TRACE data.
Get pre-trade dealer insight
Dealer's pricing tendencies are modelled over multiple attributes and scenarios to reveal and rank likely offers – and before you go to market.
Stay ahead as markets move
Pre-trade offer and dealer rankings update continuously through the day. Track dealer's hit ratios and price aggressiveness as liquidity and cost dynamics shift.
Key benefits
Make smarter dealer selections by ranking counterparties for each order by using forward-looking profiles that account for volatility and premium/discount dynamics. Pre-trade cost visibility and real-time intelligence throughout the trading day, without information leakage.
- Smarter dealer selection: Rank dealers using forward-looking profiles based on volatility scenarios and ETF premium/discount conditions—not just historical averages.
- Pre-trade cost visibility: Access dealer-level pricing estimates at the security level before going to market, enabling more informed decisions.
- Real-time intelligence: Hit ratios and TCA update continuously throughout the day, ensuring insights reflect current market conditions.
- Reduced information leakage: Engage fewer, higher-conviction counterparties to minimise market exposure prior to execution.
- Continuous improvement: Post-trade TCA feeds outcomes back into the model, refining dealer rankings and pricing estimates over time.
Related solutions
Best Execution Service
A trade-by-trade measure of relative execution quality. The score is a percentile where the trade differential (Trade Price to Reference Price) falls within a given distribution.
Continuous Evaluated Pricing (CEP™)
Support intra-day workflows with our innovative, rules-based pricing applications. Our fixed income evaluations systematically capture and incorporate market information, responsive to market conditions.
ICE Liquidity Indicators
The ICE Liquidity Indicators service provides an independent, near-term view of relative liquidity. The ability to exit a position at or near the current value, to help support risk management in connection with a variety of regulatory obligations.
Best Execution Service
A trade-by-trade measure of relative execution quality. The score is a percentile where the trade differential (Trade Price to Reference Price) falls within a given distribution.
Continuous Evaluated Pricing (CEP™)
Support intra-day workflows with our innovative, rules-based pricing applications. Our fixed income evaluations systematically capture and incorporate market information, responsive to market conditions.
ICE Liquidity Indicators
The ICE Liquidity Indicators service provides an independent, near-term view of relative liquidity. The ability to exit a position at or near the current value, to help support risk management in connection with a variety of regulatory obligations.