ICE Bonds, part of Intercontinental Exchange, Inc., announced the launch of a new Request-for-Quote (RFQ) protocol for Mortgage-Backed Securities (MBS) on April 16, 2025. This new functionality is available on the ICE TMC platform.
The RFQ protocol provides enhanced liquidity, flexibility, and efficiency for MBS trading, complementing the existing Click-to-Trade marketplace. Pete Borstelmann, President of ICE Bonds, stated this is a key step in the electronification of a traditionally voice and message-driven market.
This enhancement aims to support more efficient price discovery and offer customers greater flexibility in executing trades. It strengthens ICE's fixed income execution capabilities and is expected to drive increased adoption and revenue in the MBS market.
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