Intercontinental Exchange (NYSE: ICE), an operator of global exchanges and clearing houses has formally completed its all-cash acquisition of S&P Global’s (NYSE: SPGI) Standard & Poor’s Securities Evaluations (SPSE), following a six-month closing period, according to an ICE statement.
The terms of the transaction were originally confirmed back in March, which will see SPSE and the group’s Credit Market Analysis (CMA) become part of ICE Data Services. ICE had announced its intent to acquire the companies on 1 March, 2016, with the objective of offering its customers around the world new data and valuation services.
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With SPSE and CMA becoming a part of the suite of data products and services utilized by ICE Data Services, ICE’s newly consolidated end-to-end solution will help extend its capabilities for information, analytics and connectivity. This will also target a variety of markets, including fixed income, equities, commodities, foreign exchange (FX), and others.
Moreover, following the completion of the acquisition, SPSE will also be known as Securities Evaluations and will be managed and operated separately from the existing fixed income evaluated pricing services as offered by ICE Data Services.
According to Lynn Martin, President and Chief Operating Officer (COO) of ICE Data Services, “We look forward to working with the teams at SPSE and CMA to provide customers in the fixed income and credit markets an expanded range of solutions. By working with our customers, we will continue to innovate and invest to provide the highest quality evaluated pricing and analytics services.”