U.S. financial firms were hit with over $600 million in penalties for failing to comply with recordkeeping requirements last year, with the unauthorized use of messaging services like WhatsApp in the spotlight. It’s a theme repeated across the globe, as the speed of electronic markets mean real-time communication is vital to decision-making - yet the proliferation of new channels spell an ongoing challenge in terms of oversight. As trading has moved from the floor to phone to various digital formats, the need for an integrated solution that can be tailored for compliance needs is more urgent than ever.

To meet these demands, ICE has continually invested in ICE Chat - an instant messaging platform which serves over 126,000 market participants - to ensure smooth and compliant communication across mediums. For example, if an ICE Chat user is initiating a trade and a complexity arises which needs to be clarified, they can click an icon which provides instantaneous audio communication via ICE Voice, reducing the need for separate systems. ICE Voice is a cloud-based audio communication solution which enables users to make voice calls directly from chat tabs or contact lists, and offers always-on, persistent open connections. Powered by IPC's Connexus Unigy private cloud, it offers high-quality audio. Chat and voice logs can be integrated into a single record of communication to help meet compliance requirements, with accessible playback of archived calls. Users can also participate in communities across key asset classes or workflows and create smaller groups for direct outreach. In terms of incorporating new technologies into ICE Voice in the future, IPC chief executive Kurt Adams has noted the potential for using artificial intelligence to turn data into more actionable trade information and help surveil trades.

To address demand for communicating with WhatsApp contacts while helping clients remain compliant, ICE Chat now allows users to access the WhatsApp network. The unauthorized use of WhatsApp for business communication attracted over $390 million in fines from the Securities and Exchange Commission in 2024 and continues to present a compliance challenge - due in part to the sheer breadth of its user base. Here ICE can supply a new WhatsApp number which is attached to a user’s ICE Chat account. Users can then add and communicate with contacts on the WhatApp network using the ICE Chat application. WhatsApp messages are logged and retained using the same policy as a user's ICE Chat messages.

More broadly, ICE Chat offers communication through a highly secure, encrypted network with support for the full trading workflow. Built for the financial community, it offers customized compliance with communication logs available in a variety of formats. To help manage risk, companies can give their ICE Chat users different permissions - such as restricting the use of chatrooms and attachments or preventing mobile access for brokers. The application of AI technology enriches text-based messages with actionable market data, allowing companies to unlock valuable market data from their chat messages. Users can instantly price broker quotes directly in ICE Chat or chart them for analysis in ICE Connect. ICE Chat also provides REST APIs allowing companies to feed ICE Chat messages and market data into their own internal dashboards and systems. As communication channels proliferate and the scope of regulation evolves, ICE continues to work alongside clients - ensuring they are supported by an intuitive, fast and complaint messaging platform.