As part of the deal, ICE agreed to help modernize the MERS System.
Intercontinental Exchange Inc, operator of numerous global business lines, clearinghouses and exchanges, including ICE, today announced that ICE will acquire a majority equity stake in MERSCORP Holdings, Inc. (MERSCORP), according to an official corporate statement.
MERSCORP owns Mortgage Electronic Registrations Systems, Inc. (MERS) which operates a service called 'MERS System' that tracks changes in servicing rights and beneficial ownership interest in US-based mortgage loans.
The new world of Online Trading, fintech and marketing – register now for the Finance Magnates Tel Aviv Conference, June 29th 2016.
Development synergy
ICE and MERS have entered into a software development agreement to enhance the MERS system and make it a more modern national electronic registry for the US-based mortgage loans it tracks.
The deal is expected to help make the infrastructure - used by more than 5000 members - more robust, with potential benefits extended out to the underlying residential mortgage market in the U.S. and which could unlock efficiencies in related derivatives products in the future making them operate more fluidly.
This agreement brings the strengths of our organizations together to benefit the U.S. residential mortgage finance market.
To benefit US mortgage market
“This transaction underscores MERSCORP Holdings’ efforts to strengthen the value to its member institutions and continue to support MERS’ role as a national mortgage registry,” said Kurt Pfotenhauer, Chairman of MERSCORP Holdings, commenting in the joint corporate announcement.
Mr. Pfotenhauer added: “The investment of capital and resources from ICE will enhance the effectiveness and efficiency of MERS for our more than 5,000 member organizations.”
“This agreement brings the strengths of our organizations together to benefit the U.S. residential mortgage finance market,” said Jeffrey C. Sprecher, ICE Chairman and CEO, commenting in a statement.
“It also complements our data and technology expertise in diverse, regulated markets. We are pleased to bring our strong track record of innovation, governance and operational Execution to MERS, and look forward to contributing to the evolution of mortgage market infrastructure.”
The synergy brings a commitment from ICE - which operates market infrastructure across complex and regulated financial environments globally, together with the MERS System - which is a dynamic infrastructure and transaction management solution used by home buyers, regulators, and other stakeholders including in the financial services industry.
Financial terms of the deal - which is expected to close at the end of this month - were not disclosed but were noted as immaterial to ICE.
Intercontinental Exchange Inc, operator of numerous global business lines, clearinghouses and exchanges, including ICE, today announced that ICE will acquire a majority equity stake in MERSCORP Holdings, Inc. (MERSCORP), according to an official corporate statement.
MERSCORP owns Mortgage Electronic Registrations Systems, Inc. (MERS) which operates a service called 'MERS System' that tracks changes in servicing rights and beneficial ownership interest in US-based mortgage loans.
The new world of Online Trading, fintech and marketing – register now for the Finance Magnates Tel Aviv Conference, June 29th 2016.
Development synergy
ICE and MERS have entered into a software development agreement to enhance the MERS system and make it a more modern national electronic registry for the US-based mortgage loans it tracks.
The deal is expected to help make the infrastructure - used by more than 5000 members - more robust, with potential benefits extended out to the underlying residential mortgage market in the U.S. and which could unlock efficiencies in related derivatives products in the future making them operate more fluidly.
This agreement brings the strengths of our organizations together to benefit the U.S. residential mortgage finance market.
To benefit US mortgage market
“This transaction underscores MERSCORP Holdings’ efforts to strengthen the value to its member institutions and continue to support MERS’ role as a national mortgage registry,” said Kurt Pfotenhauer, Chairman of MERSCORP Holdings, commenting in the joint corporate announcement.
Mr. Pfotenhauer added: “The investment of capital and resources from ICE will enhance the effectiveness and efficiency of MERS for our more than 5,000 member organizations.”
“This agreement brings the strengths of our organizations together to benefit the U.S. residential mortgage finance market,” said Jeffrey C. Sprecher, ICE Chairman and CEO, commenting in a statement.
“It also complements our data and technology expertise in diverse, regulated markets. We are pleased to bring our strong track record of innovation, governance and operational Execution to MERS, and look forward to contributing to the evolution of mortgage market infrastructure.”
The synergy brings a commitment from ICE - which operates market infrastructure across complex and regulated financial environments globally, together with the MERS System - which is a dynamic infrastructure and transaction management solution used by home buyers, regulators, and other stakeholders including in the financial services industry.
Financial terms of the deal - which is expected to close at the end of this month - were not disclosed but were noted as immaterial to ICE.
EU Parliament Imposes €10,000 Cash Payment Limit in New Anti-money Laundering Legislation
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
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#fmas #fmas24 #fmevents #networking #finance #africa
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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