Intercontinental Exchange (ICE) has wrapped up the acquisition of Bank of America Merrill Lynch Global Research division’s fixed income index platform.
The platform will now be a part of ICE Data Services, which offers proprietary indices, third-party index and ETF calculation services, proprietary market data, pricing and analytics, desktops and connectivity solutions.
The acquired indices will now operate under the ICE BofAML Indices brand.
The deal, whose financial terms were undisclosed, was announced in June 2017. ICE said that the financial impact of the deal will be immaterial.
The exchange operator further said that with completion of the transaction, its fixed income index unit benchmarks around $1 trillion in assets.
ICE Data Services president and COO Lynn Martin said: “With the addition of these indices, we are able to offer a comprehensive portfolio that includes the addition of more than 5,000 global fixed income, currency and commodity indices and leverages our trusted pricing and reference data solutions to meet the needs of our customers.”