ICE to Acquire TMC Bonds – Finextra
June 1, 2018 \ 1 Comment
Full Article: Finextra
Intercontinental Exchange (NYSE:ICE), a leading operator of global exchanges and clearing houses and provider of data and listings services, today announced that it has entered into an agreement to acquire TMC Bonds LLC for $685 million in cash.
Quite the interesting price and purchase by ICE. They bought practically the exact same customer base for credit that they paid for in KBP, plus plenty of duplication in the muni market customer base. Certainly TMC has some solid proprietary connectivity there. They are officially in the front end business, and I will be curious to see if they stay there. Will they follow with a strong regulatory push to try to force the markets in to a more fair access/rules based exchange environment? When the dust settles will their be enough expert DNA at ICE to figure this out,… Read more »
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