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ICE Introduces Reference Data for Leveraged Loan Market
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Rhea-AI Summary
Intercontinental Exchange (NYSE: ICE) has partnered with U.S. Bank to provide leveraged bank loan reference data, enhancing transparency for investors in the $1.6 trillion leveraged loan market. This new offering includes over 130 reference data fields to help classify and compare loans, addressing a key demand from customers. The service supports risk management, compliance, and operational efficiency, while linking to broader corporate structures. ICE aims to expand its asset class coverage with this initiative, which includes access to unique identifiers for leveraged loans.
Positive
Partnership with U.S. Bank provides access to high-quality loan data.
Service includes over 130 reference data fields to improve loan comparison.
Addresses a key demand from customers in the leveraged loan market.
Negative
None.
Leverages U.S. Bank’s leading loan administration franchise to offer high-quality, granular data
ATLANTA & NEW YORK--(BUSINESS WIRE)--
Intercontinental Exchange, Inc. (NYSE: ICE), a leading global provider of data, technology and market infrastructure, today announced it will begin offering leveraged bank loan reference data through its ongoing collaboration with U.S. Bank. The offering will provide investors and other market participants with high-quality and detailed reference data from the largest administrator of loans in the United States.
According to the Securities Industry and Financial Markets Association (SIFMA), the leveraged loan market accounts for approximately $1.6 trillion in loans outstanding. These syndicated loans serve various goals, including general corporate purposes, credit refinancing and recapitalization, or financing acquisition targets. Underlying data for these loans have not generally been readily available to market participants, which can make it difficult to classify or compare different instruments or link them at the corporate level.
ICE’s new solution offers more than 130 different reference data fields, including terms and conditions, corporate actions and business entity structures, designed to make it easy for users to characterize and compare different loans. This service is built into ICE’s leading reference data platform, which allows for seamless linkage to larger corporate structures and other securities. ICE is also introducing a specific and unique identifier designed for leveraged loans to help investors easily identify loans.
“Coverage of leveraged loan data represents one of the most requested asset classes from our customers,” said Mark Heckert, Chief Product Officer, Fixed Income and Data Services at ICE. “Working with U.S. Bank, the leading administrator of leveraged loans and collateralized loan obligations, allows us to provide extensive, actionable and granular data for an asset class that is not widely available on other platforms, especially from an ESG perspective.”
The loans represent substantially all broadly syndicated leveraged loans in the U.S. market, as well as smaller public loans that may not be widely followed. The universe can offer market participants a comprehensive, accurate and timely tool when analyzing their leveraged loan assets. The inclusion of bank loan reference data expands ICE’s asset class coverage and enhances the company’s evaluations, analytics and index solutions.
ICE’s Reference Data can help users support their risk management processes, maintain compliance and maximize operational efficiencies. ICE’s reference data solutions include terms and conditions data, corporate actions, business entity service, environmental, social and governance (ESG) risks and opportunities, exchange traded derivatives, corporate actions for NYSE Group listings, and more. To learn more, please visit: https://www.theice.com/market-data/pricing-and-analytics/reference-data.
About 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 across major asset classes that offer our customers access to mission-critical workflow tools that increase transparency and operational efficiencies. 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 comprehensive fixed income data services and execution capabilities provide information, analytics and platforms that help our customers capitalize on opportunities and operate more efficiently. At ICE Mortgage Technology, we are transforming and digitizing the U.S. residential mortgage process, from consumer engagement through loan registration. Together, we transform, streamline and automate industries to connect our customers to opportunity.
Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located here. Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading “Key Information Documents (KIDS).”
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 risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2020, as filed with the SEC on February 4, 2021.
