Lynn Martin, Intercontinental Exchange
Intercontinental Exchange has entered into a definitive agreement to acquire the Global Research division's index platform from Bank of America Merrill Lynch. 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.
"We are excited to build on ICE's index services, which complement our leading fixed income pricing solutions in serving the demand for indexation as passive investing grows," said Lynn Martin, President & COO of ICE Data Services. "We believe the BofAML Global Research FICC indices will offer customers more choice alongside the ICE U.S. Treasury indices and NYSE equity indices as comprehensive, trusted benchmarks."