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Intercontinental Exchange To Acquire TMC Bonds For $685 Mln In Cash

Intercontinental Exchange, Inc. (ICE), an operator of global exchanges and clearing houses as well as provider of data and listings services, said it has agreed to acquire TMC Bonds LLC for $685 million in cash.

The transaction is expected to close in the second half of 2018, and is not expected to materially impact Intercontinental Exchange's 2018 financial results or capital returns. TMC Bonds will operate alongside ICE's fixed income trading and data solutions.

Established in 2000, TMC Bonds is a fixed income marketplace, supporting anonymous trading across multiple protocols, including click-to-trade and request-for-quote or RFQ in various asset classes including Municipals, Corporates, Treasuries, Agencies and Certificates of Deposit.

"TMC Bonds will offer a new and complementary access point to liquidity for our customers and expand our portfolio of diverse solutions in the global fixed income markets across analytics, execution and post-trade. As the fixed income markets continue to automate and migrate to electronic trading, ICE's trading and data infrastructure offer customers more choices to access liquidity, conduct price discovery and manage risk in more efficient ways," said ICE President Benjamin Jackson.

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