2020 was a year like no other. The pandemic stressed financial markets and heightened volatility. During this time, ICE ETF Hub adoption increased. Market participants needed efficiencies to meet market demands and the Hub delivered by automating the ETF creation and redemption process, and streamlining workflows. The Hub was tested by extraordinary volatility and proved to be reliable and resilient.
We launched several key enhancements including Financial Information eXchange (FIX) access to issuers, market makers and authorized participants; custom basket negotiation technology; and multi-order functionality and connectivity between the ETF Hub and ICE FI Select. We launched a pilot program, welcoming many more authorized participants and market makers to the platform.
In 2021 we will continue our mission of offering a more standardized and simplified process for ETF creation and redemption for the ETF primary market. Look for enhancements to the custom basket workflow, issuer direct workflow and possible expansion to other regions. We look forward to your continued partnership in the year ahead.