ATLANTA & NEW YORK – (COMMERCIAL THREAD) – Intercontinental Exchange, Inc. (NYSE: ICE), a leading global provider of market data, technology and infrastructure, today announced that it will begin offering benchmark data on leveraged bank loans through its continued collaboration with US Bank. The offering will provide investors and other market participants with detailed, high-quality benchmark data from the largest loan administrator in the United States.
According to the Securities Industry and Financial Markets Association (SIFMA), the leveraged loan market represents approximately $ 1.6 trillion in outstanding loans. These syndicated loans serve a variety of purposes, including general corporate objectives, refinancing and recapitalizing credit, or financing acquisition objectives. The data underlying these loans has generally not been readily available to market participants, which can make it difficult to classify or compare different instruments or their association at the enterprise level.
ICE’s new solution offers over 130 different master data fields, including terms and conditions, corporate actions and business entity structures, designed to allow users to easily characterize and compare different loans. This service is integrated with ICE’s main reference data platform, which enables a seamless link with larger corporate structures and other titles. ICE also introduces a specific and unique identifier designed for leveraged loans to help investors easily identify loans.
“Leverage loan data coverage is one of the most requested asset classes for our clients,” said Mark Heckert, director of products, fixed income and data services at ICE. âWorking with US Bank, the leading administrator of leveraged loans and secured loan bonds, allows us to provide comprehensive, actionable, and granular data for an asset class that is not widely available on other platforms, in particular from an ESG point of view. ”
Loans represent almost all of the widely syndicated leveraged loans in the US market, as well as smaller government loans that may not be widely tracked. The universe can offer market participants a comprehensive, accurate and timely tool when analyzing their leveraged loan assets. The inclusion of benchmark bank lending data expands ICE’s asset class coverage and improves the company’s valuations, analysis and index solutions.
ICE’s master data can help users take charge of their risk management processes, maintain compliance, and maximize operational efficiency. ICE’s master data solutions include data on terms and conditions, corporate actions, service to business entities, environmental, social and governance (ESG) risks and opportunities, exchange traded derivatives, operations on securities for NYSE group quotes, and more. To learn more, please visit: https://www.theice.com/market-data/pricing-and-analytics/reference-data.
About the intercontinental exchange
Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds and operates digital networks to connect people to opportunity. We provide financial technology and data services in major asset classes that provide our clients with access to essential workflow tools that increase transparency and operational efficiency. We operate Exchanges, including the New York Stock Exchange, and clearing houses that help people invest, raise capital and manage risk across multiple asset classes. Our global fixed income data services and execution capabilities provide insights, analytics, and platforms that help our clients take advantage of opportunities and operate more efficiently. AT ICE Mortgage Technology, we’re transforming and digitizing the US residential mortgage process, from consumer engagement to loan registration. Together, we transform, streamline and automate industries to connect our customers to opportunities.
Trademarks of ICE and / or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE, and New York Stock Exchange. Information regarding trademarks and additional intellectual property rights of Intercontinental Exchange, Inc. and / or its affiliates can be found here. The key information documents for certain products covered by the EU Retail and Insurance Investment Products Regulation can be accessed on the website of the relevant exchange under the heading ‘Key Information Documents (KIDS ) â.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 – Statements in this press release regarding ICE’s business that are not historical facts are “forward-looking statements” that involve risk and uncertainties. For a discussion of the additional risks and uncertainties, which could cause actual results to differ from those contained in forward-looking statements, see documents filed by the Securities and Exchange Commission (SEC) of ICE, including, but not limited to be limited to the risk factors in ICE’s annual report. Report on Form 10-K for the fiscal year ended December 31, 2020, as filed with the SEC on February 4, 2021.
SOURCE: Intercontinental exchange