Intercontinental Exchange on Tuesday said it would acquire McGraw Hill Financial's data providers for fixed-income and over-the-counter markets.
Terms were not disclosed.
ICE is buying Standard & Poor's Securities Evaluations, which provides fixed-income pricing data, and Credit Market Analysis, which offers independent data for OTC markets, said a joint news release from ICE and McGraw Hill.
Both units are under the S&P Global Market Intelligence unit of McGraw Hill, which was created last monththrough the combination of S&P Capital IQ and SNL Financial, which McGraw Hill acquired in July 2015.
S&P Global Market Intelligence officials determined that “we do not have critical mass in the area of securities pricing,” said Mike Chinn, president of S&P Global Market Intelligence, in the news release, making the sale of the units to ICE “the right decision.”
The deal will close when regulatory approvals are received; no date for a closing was provided.