Intercontinental Exchange, Inc. (NYSE: ICE) announced the launch of ICE IDs, a classification service that creates unique, persistent identifiers for private credit instruments, according to a company press release.

The identifiers are part of ICE Private Credit Intelligence, an initiative started by ICE and Apollo to build data infrastructure for the private credit market. ICE IDs are designed to span the investment lifecycle from origination through to the final payoff date and closure of each instrument, including through potential credit events. Apollo has applied ICE IDs to its originated credit assets as an anchor partner.

"As we work to create a master data structure for private credit, ICE IDs are the cornerstone that we build everything else off of, and which link together the key data points that make up an instrument," said Chris Edmonds, President of ICE's Fixed Income and Data Services.

Eric Needleman, Partner and Head of Apollo Capital Solutions, said the introduction of ICE IDs "establishes a critical component of the foundational data layer we seek to build for private credit, through a trusted and experienced data provider in ICE, to enable an investor experience for private credit that more closely resembles that of public markets."

ICE Private Credit Intelligence offers permissioned data sharing using a standardized reference data set to enable deal-level information flow with authorized counterparties. The platform also provides a data extraction and distribution model that ingests deal documents, extracts key terms and data points, and distributes secured information.

ICE said it plans to offer additional datasets through ICE Private Credit Intelligence later this year. The company currently provides terms, conditions, and corporate actions on over 35 million financial instruments covering more than 210 markets.