Intercontinental Exchange, the Atlanta-based owner of exchanges and clearing houses, is continuing to push into bond markets with the purchase of a trading venue owned by a group of investment banks. ICE, the owner of the New York Stock Exchange, said in a statement on Tuesday that it has agreed to acquire TMC Bonds, an electronic venue for trading a variety of fixed income instruments, including municipals, corporates, and treasuries, for $685m in cash. ...
Atlanta-based Intercontinental Exchange (ICE) has agreed to purchase electronic trading platform TMC Bonds in a cash deal worth $685m. TMC Bonds trades an assortment of fixed income products, including municipals, corporates and treasuries. The acquisition is the latest move by ICE, the owner of the New York Stock Exchange, to expand into bond markets, following its $400m purchase of BondPoint in January, as well as several indices from Bank of America Merrill Lynch last October.