Intercontinental Exchange Makes Strategic Investment In BondLink
May 19 2021 - 08:30AM
Business Wire
Provides expanded data and analytics to the
municipal bond issuer community
Intercontinental Exchange, Inc. (NYSE: ICE), a leading global
provider of data, technology and market infrastructure, today
announced it has made a strategic investment in BondLink, a
financial technology company that provides cloud-based debt
management software solutions to governments financing
infrastructure in the $4 trillion municipal bond market. The Series
B investment is designed to accelerate BondLink’s growth and
product development, including providing a variety of ICE’s
market-leading data sets to municipalities as they prepare to issue
bonds.
With approximately 75% of all public infrastructure in the U.S.
financed by local governments and public utilities, the municipal
bond market is critical to the nation’s economic growth, quality of
life and safety. It is also very broad with an estimated 60,000
unique issuers, making it challenging and opaque for bond investors
of all sizes.
“With issuers spread out across the U.S., the municipal bond
market remains very fragmented, and is in need of transparency.
Better access to information, data and analytics are essential,”
said Lynn Martin, President of Fixed Income and Data Services at
ICE. “Our investment in BondLink and the distribution of ICE data
directly to the issuer community will provide municipalities with
new tools to help efficiently manage the full lifecycle of debt
issuance.”
BondLink’s online network connects municipal issuers with bond
investors, advisors and other essential market participants. Its
issuer platform helps governments engage and attract investors more
efficiently, using digital channels to share financial reports,
bond financing data, and other information in one central location.
BondLink tools also help issuers gauge both market conditions and
investor demand as they prepare for a bond sale. These resources
will be enhanced with the ICE investment, allowing it to provide
its users with critical data such as interest rate yield curves,
secondary market trading data, changes in bond evaluations, and
other analytics to help inform their debt financing decisions.
“Technology is transforming the bond market, and it’s providing
the biggest impact for governments who are under-resourced and need
it the most,” said Colin MacNaught, CEO & Co-Founder of
BondLink. “We’re moving the bond market forward by working with
issuers to help drive their bonds sales, and our technology brings
cost efficiencies and additional transparency to the market. We are
thrilled to work with ICE and the ICE team. By providing critical
market data to issuers, they can better manage their bond programs
and be more prepared as they finance new roads and bridges and
schools.”
The transaction will not be material to ICE’s earnings or have
an impact on capital allocation plans.
About BondLink
Led by founders Colin MacNaught, CEO, and Carl Query, CTO,
BondLink’s cloud-based debt management software is the $4 trillion
municipal bond market’s first fully-integrated operating platform
for public sector CFOs to raise capital from institutional and
retail investors. BondLink clients issued nearly $50 billion in
2020, and its network of issuers expands across more than 30
states, as well as the District of Columbia, Puerto Rico and the
U.S. Virgin Islands. Headquartered in Boston, BondLink is backed by
top investors, including Franklin Templeton Investments, one of the
largest municipal bond fund managers in the country. For more
information, please visit www.bondlink.com.
About Intercontinental Exchange
Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500
company that designs, builds and operates digital networks to
connect people to opportunity. We provide financial technology and
data services across major asset classes that offer our customers
access to mission-critical workflow tools that increase
transparency and operational efficiencies. We operate exchanges,
including the New York Stock Exchange, and clearing houses that
help people invest, raise capital and manage risk across multiple
asset classes. Our comprehensive fixed income data services and
execution capabilities provide information, analytics and platforms
that help our customers capitalize on opportunities and operate
more efficiently. At ICE Mortgage Technology, we are transforming
and digitizing the U.S. residential mortgage process, from consumer
engagement through loan registration. Together, we transform,
streamline and automate industries to connect our customers to
opportunity.
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 here. 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, 2020, as
filed with the SEC on February 4, 2021.
SOURCE: Intercontinental Exchange
ICE-CORP
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ICE Media Contact: Damon Leavell Damon.Leavell@theice.com
212-323-8587
media@ice.com ICE Investor Contact: Mary Caroline O’Neal
MaryCaroline.Oneal@ice.com 770-738-2151
investors@ice.com
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