Intercontinental Exchange, Inc. (NYSE:ICE), a leading operator of global exchanges and clearing houses and provider of data and listings services, today announced plans to launch a new version of its market data platform, ICE Connect, which will be designed specifically for participants in the global oil markets. The new service, which is expected to be available in the second quarter of 2020, will include access to leading oil market analytics from S&P Global Platts and other third parties.
ICE Connect offers market participants advanced charting, analytics, news and messaging capabilities and provides access to global real-time exchange and market-moving fundamental data. Through the integration of select Platts oil analytics content, ICE Data Services will provide customers with access to a global refinery database, showing a forward-looking view of refinery capacity, as well as oil storage and vessel tracking amongst other services. These content sets will be integrated into the ICE Connect platform, which already includes ICE’s messaging, proprietary data, execution capabilities and third party content, offering global oil market participants a more efficient way to spot opportunities and manage risk.
“Adding transparency to markets through the use of unique data sets and efficient technology remains a core mission of ICE. As adoption of our ICE Connect platform continues to grow, we’re pleased to offer our customers powerful new tools in the global oil markets, including Platts’ leading analytics, through an efficient delivery mechanism,” said Lynn Martin, President of ICE Data Services. “ICE Connect leverages the vast amount of proprietary data and analytics created from ICE’s global futures exchanges, and other third party providers, and the addition of Platts’ content will further enhance risk management capabilities for ICE’s global oil customer base.”
“This new project with ICE continues to demonstrate S&P Global Platts’ focus on developing better customer-centric digital experiences. By offering both access to Platts’ leading price assessments and our Analytics in refinery, oil storage and ship tracking, we are opening up the opportunity for oil market participants to inform their decision making process in the same environment that many of our clients currently use, better aligning to their workflows,” added Silvina Aldeco-Martinez, Chief Product Officer, S&P Global Platts. “We expect this to be the first step in providing access to more of Platts analytics, forecasts and commodity fundamental data solutions.”
ICE Data Services offers a broad range of data solutions including award-winning pricing and analytics, indices and exchange data via secure, flexible connections. These services help customers address their investing, trading, compliance and risk management requirements across a broad range of asset classes.
About Intercontinental Exchange
Intercontinental Exchange (NYSE: ICE) is a Fortune 500 company formed in the year 2000 to modernize markets. ICE serves customers by operating the exchanges, clearing houses and information services they rely upon to invest, trade and manage risk across global financial and commodity markets. A leader in market data, ICE Data Services serves the information and connectivity needs across virtually all asset classes. As the parent company of the New York Stock Exchange, the company is the premier venue for raising capital in the world, driving economic growth and transforming markets.
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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, 2019, as filed with the SEC on February 6, 2020.
About S&P Global Platts
At S&P Global Platts, we provide the insights; you make better informed trading and business decisions with confidence. We’re the leading independent provider of information and benchmark prices for the commodities and energy markets. Customers in over 150 countries look to our expertise in news, pricing and analytics to deliver greater transparency and efficiency to markets. S&P Global Platts coverage includes oil, gas, LNG, power, petrochemicals, metals, agriculture and shipping.
S&P Global Platts is a division of S&P Global (NYSE: SPGI), which provides essential intelligence for individuals, companies and governments to make decisions with confidence. For more information, visit www.platts.com.
SOURCE: Intercontinental Exchange