ICE To Buy BofAML's Global Research Index Platform

Posted By: Religare
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    Intercontinental Exchange (ICE), a leading operator of global exchanges and clearing houses and provider of data and listings services, announced that it has entered into a definitive agreement to acquire the Global Research division's index platform from Bank of America Merrill Lynch (BofAML).

    ICE To Buy BofAML's Global Research Index Platform
    The BofAML indices are the second most used fixed income indices by assets under management (AUM) globally, and upon closing, the AUM benchmarked against the combined fixed income index business of ICE will be nearly USD 1 trillion. Upon closing, the indices will be re-branded as the ICE BofAML indices.

    The terms of the agreement were not disclosed, and the transaction is expected to be completed in the second half of 2017. The financial impact of the transaction is expected to be immaterial in 2017.

    Following the close of the transaction, the BofAML Global Research FICC indices will become part of ICE Data Services, a global leader in proprietary market data, analytics, desktops and connectivity solutions. The ICE BofAML indices will be powered by ICE's award-winning evaluated prices and reference data, which provide high-quality information on more than 10 million financial instruments across all major asset classes, including futures, options, equities and fixed income.

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