ICE To Buy Global Research Index Platform From Bank Of America Merrill Lynch

(RTTNews) - Intercontinental Exchange (ICE), an operator of global exchanges and clearing houses and provider of data and listings services, said that it has entered into a definitive agreement to acquire the Global Research division's index platform from Bank of America Merrill Lynch.

The BofAML indices are the second most used fixed income indices by assets under management (AUM) globally, and upon closing, the AUM benchmarked against the combined fixed income index business of ICE will be nearly $1 trillion.

Upon closing, the indices will be re-branded as the ICE BofAML indices. The terms of the agreement were not disclosed, and the transaction is expected to be completed in the second half of 2017.

The financial impact of the transaction is expected to be immaterial in 2017.