The ICE Derivatives Trading Platform Binary Order API is a new direct market access API being rolled out by the ICE.
It requires development rather than an update to the ICE FIX Order Entry API.
Supporting the ICE BOE API: Why it matters
The ICE Binary Order API offers improved determinism (reduction in latency and latency variation i.e. jitter) on order entry to the ICE Derivatives Trading Platform.
ICE are achieving this by implementing this new "binary" Order Entry API and replacing the internal load balancing/server processing.
The Plan
The ICE are running a rollout project and the ICE API and Client Integration Team are publishing specifications, project updates, conformance and mock trading testing schedules.
This is progressing well with a few milestones worth highlighting:
- ICE Binary Utility Service and Binary Gateway Servers available in Production in both Basildon and Chicago for basic connectivity and Login tests.
- As at 4th August 2025 the mandatory functional conformance testing for the ICE Binary Order API is available in AP1 test environment.
- ICE Binary Utility Service and Order API is now available to connect and perform basic testing of the test products.
- The first mock trading test date is scheduled for Saturday, August 23, 2025
- Target go live dates are:
- 31st October 2025 for Basildon
- 20th February 2026 for Chicago
Full ICE Binary Order API specificaton and project details are being maintained and communicated online.
Build or buy?
When it comes to supporting the ICE BOE API, organisations face a critical decision: should they build the necessary infrastructure in-house or purchase third-party solutions? Each approach has its merits and potential drawbacks.
Building in-house allows for greater control over the development process and customisation to meet specific business needs. However, it requires significant up front and ongoing investment in terms of time, resources, and expertise. On the other hand, purchasing third-party solutions can expedite the migration process and provide access to tested, proven, and supported technologies.
OnixS will provide tested and certified ICE BOE SDK solutions with full support.
The OnixS directConnect: ICE Binary Order Entry Handler SDK implementation provides out-of-the-box C++ solutions with:
- An easy to use and flexible API
- Support for IP, port, and session token requests for connectivity information via the Binary Order Gateways (BGWs) using the Binary Utility Service (ICE BUS) API
- Support for multiple session connections to the ICE Derivatives Trading Platform Binary Order Gateway (BGW) for order entry of futures, options, and strategy market products
- Programming Guide Documentation
- Fast-start trading client reference implementation source code samples
If you need the trading speed advantages that the ICE BOE API offers, then OnixS can help.
Register to request an evaluation download of the OnixS directConnect: ICE Binary Order Entry Handler SDK.
