Combine cheese, butter, shortening, and salt in the bowl of your mixer fitted with the paddle attachment. The mixture will be crumbly.
Slowly add flour and then the ice water. You may add a few more drops of water to help it come together but be careful not to add too much. You don’t want a wet dough.
Pat the dough into 2 discs and wrap in plastic wrap and chill for at least 30 minutes (or longer).
Preheat oven to 375⁰F.
Using parchment paper or a silicone mat roll each disc to 1/8 inch or less and cut into 1 inch squares (a pastry wheel or pizza wheel is easiest). Use a toothpick to punch a hole into the center of each square.
If you have difficulty separating and transferring the crackers onto the baking sheet return the parchment paper/mat to the refrigerator for 10 minutes (while you roll out the 2nd dough disc).
Bake for 10 – 15 minutes or until puffed and browning around the edges. If you pull them out too soon and the crackers don’t have the desired crispiness you want then simply return them to the oven for 2-3 more minutes.
Move crackers to a cooling rack. Makes about 7 dozen crackers.