Intercontinental Exchange (ICE) has agreed to acquire the Global Research index platform of Bank of America Merrill Lynch (BofAML) for an undisclosed sum.
The Global Research index platform includes over 5,000 fixed income, currency and commodity (FICC) indices. The indices will be renamed as ICE BofAML following the completion of the deal, which is expected in the second half of 2017.
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ICE said that its fixed income index business would benchmark around $1 trillion in assets following completion of the transaction.
“The financial impact of the transaction is expected to be immaterial in 2017,” ICE said.
ICE Data Services president and COO Lynn Martin said: “We believe the BofAML Global Research FICC indices will offer customers more choice alongside the ICE U.S. Treasury indices and NYSE equity indices as comprehensive, trusted benchmarks.”
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