Market Data Provider of the Year: ICE Data Services
Financial companies need a market data provider that offers end-to-end solutions for information, analysis, index services, connectivity and data tools for global markets across all asset classes.
ICE Data Services is uniquely positioned as a market data provider, as well as an exchange. Today, it serves some of Asia’s largest banks, insurers, asset managers and pension funds. In the region, it is present in key markets such as Australia, Hong Kong, Japan and Singapore.
Its expertise in markets, clearing houses and data businesses ICE to deliver more critical data and analytics solutions. An example is how it constructs indices based on EU Allow carbon futures to trade on its exchanges, allowing exchange-traded funds (ETFs) to issuers to create products and give Asian investors access to global carbon markets.
Another way to grow is to acquire leading data providers in their asset classes. For example, after acquiring NYSE in 2013, ICE acquired SuperDerivatives in 2014, one of the leading data providers in the OTC space of derivatives. Then, in 2015, it acquired Interactive Data Corporation, a fixed-income benchmark and pricing data provider. This was followed by S&P Global’s securities valuation and credit market analysis activities in 2016. ICE also acquired the fixed income index platform from Bank of America’s global research division Merrill Lynch and Kalotay Analytics in 2021. Next, RisQ and Level 11 Analytics were added to extend the capabilities of climate change and alternative data from Ice.
Magnus Cattan, vice president of fixed income and data services for Asia-Pacific at ICEexplains that these acquisitions have allowed ICE to become a full-service multi-asset class data provider.
“Furthermore, these acquisitions have brought with them valuable unique proprietary content to our data library, which really sets us apart from other vendors. We have recently acquired businesses in the ESG (environmental, social and governance) and innovate our product offering to meet current and future customer requirements,” he says.
In July 2022, ICE acquired Urgentem, a specialist provider of global corporate emissions and climate transition solutions. Cattan says the acquisition expanded Ice’s climate risk offering to include coverage of global public and private companies in new geographies and added scenario risk analysis and stress testing for fund managers. and banks.
ICE is also innovating in the way it provides data to customers. It recently launched the Cloud Connect program, which enabled the ICE Global Network, which connects the global market community to a range of data and trading platforms, to reach market participants in the cloud and over 700 locations around the world.
According to Cattan, Cloud Connect enables customers to access Ice’s interactive, low-latency, real-time market data through any major public cloud provider. Cloud Connect also lowers the total cost of ownership for customers by lowering the connectivity cost of receiving market data. Customers do not need to install separate physical leased lines and instead real-time data is routed to customers’ cloud environments using Cloud Connect’s existing connections to customers’ cloud environments.
ICE also developed the ICE Data Vault (VDI), a AWS cloud-based platform that allows users to access large amounts of historical tick data from the ICE Consolidated stream with a history dating back over 10 years. It covers over 25 million instruments from over 600 sources across multiple asset classes, including equities, derivatives, fixed income, Effectsmoney markets, commodities, energy and ETFss.
Cattan says its cloud-native functionality provides customers with a cost-effective way to access large volumes of datasets in the cloud without incurring high transmission costs. “We’re seeing an increasing number of use cases pushed by our customers into the cloud; hundreds of terabytes of data from VDI their S3 bucket for back-testing and historical analysis purposes,” he says.
ICE also recently launched ICE Shared Farm, a fully managed, multi-tenant data feed access center in Taiwan. The service provides customers with a “managed” experience using Ice’s hosted and managed environments.
“It removes the need for dedicated market data infrastructure and equipment and allows customers to easily connect to receive real-time, low-latency market data over local interconnects or leased lines. which can significantly reduce connectivity costs,” he said. said.
ICE supports cloud technologies and works with all major cloud providers to ensure their customers can access Ice’s data through the cloud seamlessly and effortlessly. Cattan says this is a transition to the cloud for many businesses, and ICE works with cloud providers to make it as easy as possible for end customers. “We are also constantly on the lookout for new cloud datasets and applications that can be supported by ICE data,” he says.
Looking to the future, Cattan sees ESG as a rapidly evolving data need. As a result, it is constantly expanding its offering to meet the growing demands of its customers. Climate risk is another area of focus, and its recent acquisitions will help customers navigate the space.
There is also a push towards algorithmic trading and electronic execution in Asia. “Traders in Asia increasingly need information to help with pre-trade transparency and post-trade analysis. ICE strives to meet customer needs by engaging with 37 market players across different locations and business types to understand the trends and challenges in this space,” said Cattan.