Intercontinental Exchange has added new functionality to ICE ETF Hub, supporting US-listed fixed income exchange traded funds (ETFs). Since launching last week, fixed income primary trades for 17 funds have passed through the system – including iShares Core U.S. Aggregate Bond ETF (AGG) and iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD).

New functionality enables authorised participants to submit creation/redemption orders for fixed income ETFs.

“This functionality expands ICE ETF Hub’s capabilities to include fixed income ETFs, an area of the market that is expected to double in assets under management over the next five years,” said Ben Jackson, President of Intercontinental Exchange. “This feature also represents a key part of our effort to launch custom basket functionality for the creation/redemption process, helping to open the door to significantly more participation and innovation in the ETF industry.”

ICE ETF Hub originally launched in October this year. It is an industry-wide, open architecture, primary market platform for ETFs.