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Intercontinental Exchange to Acquire TMC Bonds

Intercontinental Exchange (ICE), an operator of global exchanges and clearing houses and provider of data and listings services, announced that it has entered into an agreement to acquire TMC Bonds LLC for $685 million in cash. The transaction is expected to close in the second half of 2018, subject to customary regulatory and anti-trust approvals. Established in 2000, TMC Bonds is a fixed income marketplace, supporting anonymous trading across multiple protocols, including click-to-trade and request-for-quote (RFQ) in various asset classes including Municipals, Corporates, Treasuries, Agencies and Certificates of Deposit. TMC Bonds will operate alongside ICE’s fixed income trading and data solutions.

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