Intercontinental Exchange (NYSE: ICE), a leading operator of global
exchanges and clearing houses and provider of data and listings
services, today announced that ICE Data Services has launched ICE Credit
Risk, an innovative new suite of analytics. These analytics measure
credit risk by combining daily market credit risk analytics with monthly
fundamental credit views from financial institutions. Consensus
estimates will be provided on an exclusive basis by Credit Benchmark, a
leader in consensus-based credit analytics.
“The current approaches in the market used to measure credit risk are
either slow to respond to market activity, do not measure risk at a
security level or do not take into account more fundamental reviews of
credit risk,” said Lynn Martin, President & COO of ICE Data Services.
“As such, market participants lack a single, up-to-date view that
combines fundamental company analysis with current market data including
liquidity scores, market reflective spreads and related price analytics.
Through our collaboration with Credit Benchmark, we’re able to quickly
launch an innovative new product that will provide more transparency and
new risk management tools to the bond market.”
“ICE’s expertise in delivering rich fixed income analytics to the market
makes them a natural collaborator with Credit Benchmark,” said William
Haney, Credit Benchmark’s CEO. “Our consensus data will help power the
new ICE Credit Risk offering further extending the use of our
network-sourced analytics. Given where credit markets are trending, this
launch is well timed and gives investors an important edge.”
ICE Credit Risk uses innovative sources of information, such as ICE’s
Liquidity IndicatorsTM, evaluated pricing, analytics and
reference data on approximately 2.7 million fixed income securities, and
combines it with Credit Benchmark’s consensus credit information, which
derive credit risk insights from a contributed data model that harnesses
the collective intelligence of the world’s leading financial
institutions that are taking on credit risk.
By bringing these factors together, ICE Credit Risk provides daily
credit risk metrics for global corporate bonds at a security level
enabling faster signals for monitoring early deterioration or
improvement of credit. It also establishes daily risk spread premiums
and offers a credit perspective on both publicly rated and non-rated
bonds, which can help expand the universe of investable securities.
This new service complements the existing broad range of data solutions
that ICE Data Services provides, 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
About Credit Benchmark
Based in London and New York, Credit Benchmark is a financial data
analytics company offering an entirely new source of credit risk data:
the credit risk assessments of the world’s leading financial
institutions. Credit Benchmark was founded in 2012. The company offers
an objective, dynamic and forward looking measure of risk that reflects
the aggregated views of multiple financial institutions that have direct
exposure to the underlying entities. Its coverage includes a sizable and
granular universe of tens of thousands of unrated entities where no
market-accepted credit metrics exist today.
About Intercontinental Exchange
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.
Trademarks of ICE and/or its affiliates include Intercontinental
Exchange, ICE, ICE block design, NYSE and New York Stock Exchange.
Information regarding additional trademarks and intellectual property
rights of Intercontinental Exchange, Inc. and/or its affiliates is
located at http://www.intercontinentalexchange.com/terms-of-use.
Key Information Documents for certain products covered by the EU
Packaged Retail and Insurance-based Investment Products Regulation can
be accessed on the relevant exchange website under the heading “Key
Information Documents (KIDS).”
Evaluated pricing (including fixed income evaluations), continuous
evaluated pricing, end-of-day evaluations, and Fair Value Information
Services related to securities are provided in the US through ICE Data
Pricing & Reference Data, LLC and internationally through ICE Data
Services entities in Europe and Asia Pacific.
ICE Data Services does not purport to be an NRSRO or a credit rating
agency, or to provide credit ratings.
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, 2018, as filed with the SEC on February 7, 2019.