Intercontinental Exchange to Acquire Standard & Poor’s Securities Evaluations, Inc. and Credit Market Analysis from McGraw Hill Financial

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The FINANCIAL — Intercontinental Exchange, one of the leading operators of global exchanges, clearing houses and data services, announced today that it has entered into a definitive agreement to acquire Standard & Poor’s Securities Evaluations, Inc. (SPSE), one of the leading providers of fixed income evaluated pricing, and Credit Market Analysis (CMA), one of the leading providers of independent data for the over-the-counter (OTC) markets, two assets under the S&P Global Market Intelligence business unit, from McGraw Hill Financial.

When completed, the acquisition will enable ICE to offer customers new data and valuation services. Under the terms of the agreement, ICE can elect to satisfy its payment of the purchase price due at the close of the transaction in either cash or shares of ICE’s common stock. All other terms of the agreement were not disclosed. The transaction is subject to regulatory approvals, according to Intercontinental Exchange.

“With rising demand for independent data in the global fixed income and credit markets, this transaction will support the need for innovation and increased risk management and valuation services,” said ICE Chairman and CEO Jeffrey C. Sprecher. “We look forward to serving customers in these markets as they become more transparent, and as pricing becomes more accessible.”

“After a strategic review of our portfolio, we determined that we do not have critical mass in the area of securities pricing. Therefore, this choice is the right decision for MHFI and S&P Global Market Intelligence,” commented Mike Chinn, President of S&P Global Market Intelligence. “ICE is positioned to expand coverage in derivatives and offer a multi-asset class, comprehensive source for pricing and reference data, so clients of SPSE and CMA will benefit as well. Once the transaction closes, we will work together with ICE to ensure a seamless transition.”


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