Intercontinental Exchange Completes Acquisition of TMC Bonds

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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 it has completed its acquisition of TMC Bonds LLC. The transaction, which was completed for $685 million in cash, will not have a material impact on 2018 financial results and will not impact capital returns.

TMC Bonds is a premier fixed income marketplace, supporting anonymous trading across multiple protocols, including click-to-trade and request-for-quote (RFQ). It will complement ICE’s suite of fixed income execution protocols and data solutions for various asset classes including Municipals, Corporates, Treasuries, Agencies and Certificates of Deposit.

“We are working closely with our customers to provide more choice in how they access liquidity in the global bond market, which makes TMC Bonds a natural fit and complements our fixed income offerings,” said ICE President Ben Jackson. “Our focus on innovation, efficiency and transparency aligns with TMC’s unique solutions for the evolving fixed income market.”

ICE’s financial advisors were BofA Merrill Lynch and Citi and legal advisors were Shearman & Sterling LLP and Morgan, Lewis & Bockius LLP. TMC’s financial advisor was Broadhaven Capital Partners, LLC and legal advisor was WilmerHale.

About Intercontinental Exchange

Intercontinental Exchange (NYSE: ICE) is a Fortune 500 and Fortune Future 50 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 raises more capital than any other exchange 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)”.

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, 2017, as filed with the SEC on February 7, 2018.

SOURCE: Intercontinental Exchange

ICE- CORP