ICE’s IDC–S&P Evaluated Pricing Tie-Up Sparks Competition Concerns

Some market participants are worried about the size of share in the evaluated pricing market that ICE's recent acquisitions have given it.


In October, ICE acquired Interactive Data from private equity firms Silver Lake Partners and Warburg Pincus for $5.2 billion (IMD, Oct. 26, 2015). The jewel in the crown was IDC’s evaluated bond pricing business, which generates 70 percent of the vendor’s $939 million annual revenues, according to ICE's results call. Then three weeks ago, the exchange announced the acquisition of a second evaluated bond pricing provider, Standard & Poor’s Securities Evaluations, which ICE bought from McGraw-Hill

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