ATLANTA & NEW YORK--(BUSINESS WIRE)--Intercontinental Exchange, Inc. (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 the ICE US Broad Municipal Index (ticker: MUNI), which significantly expands its coverage of the U.S. investment grade rated municipal securities market.
The ICE US Broad Municipal Index tracks the performance of over 58,000 investment grade tax-exempt municipal bonds representing over $1.6 trillion in total market capitalization. That represents a three-fold increase in the number of bonds, and a 60% increase in the market capitalization, tracked by our investment grade tax-exempt municipal indices.
“Our US municipal bond indices have history extending back for over 30 years, starting with the launch of what is currently named the ICE BofAML US Municipal Securities Index (ticker: U0A0) in the late 1980s,” said Phil Galdi, Head of Indices at ICE Data Services. “We are excited to launch this new index which, when combined with the existing municipal bond indices we already offer, will give investors the flexibility to find a benchmark that best matches their diversity, liquidity and risk management needs.”
MUNI expands on the coverage of U0A0 through two key changes: MUNI holds constituents until they mature, while U0A0 removes constituents once they fall under a year to maturity; and the MUNI Index has lower size filters on amount outstanding.
The ICE municipal securities indices are part of the broad municipal security offering across ICE, which includes ICE Data Services municipal bond evaluations and reference data for over one million bonds, as well as the deep municipal bond liquidity and execution protocols offered by ICE TMC Bonds and BondPoint.
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. BofAML® is a registered trademark of Bank of America Corporation licensed by Bank of America Corporation and its affiliates ("BofAML"), and may not be used without BofAML's prior written approval. 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.
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.