ATLANTA & NEW YORK--(BUSINESS WIRE)--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 asset classes.
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
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.
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.