Market Overview

Intercontinental Exchange Announces Acquisition Of Securities Evaluations, Credit Market Analysis


Intercontinental Exchange Inc (NYSE: ICE) announced after Tuesday's market close it has completed two separate acquisitions.

Intercontinental Exchange said that it has reached an agreement to acquire Standard & Poor's Securities Evaluations, Inc., a provider of fixed income evaluated pricing. The global exchange, clearing house and data service provider also announced it has acquired Credit Market Analysis, a provider of independent data for the over-the-counter markets.

Intercontinental Exchange stated that its acquisition will enable it to better offer customers new data and valuation services.

As part of the agreement, Intercontinental Exchange can pay for its acquisition at the close of the transaction in either cash or shares of its common stock.

"With rising demand for independent data in the global fixed income and credit markets, this transaction will support the need for innovation and increased risk management and valuation services," said ICE Chairman and CEO Jeffrey C. Sprecher. "We look forward to serving customers in these markets as they become more transparent, and as pricing becomes more accessible."

"After a strategic review of our portfolio, we determined that we do not have critical mass in the area of securities pricing. Therefore, this choice is the right decision for MHFI and S&P Global Market Intelligence," commented Mike Chinn, President of S&P Global Market Intelligence. "ICE is positioned to expand coverage in derivatives and offer a multi-asset class, comprehensive source for pricing and reference data, so clients of SPSE and CMA will benefit as well. Once the transaction closes, we will work together with ICE to ensure a seamless transition."

Posted-In: Credit Market Analysis ICE intercontinental exchange Standard & Poor's Securities EvaluationsM&A News


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