Nasdaq completed its acquisition of Dasseti on September 2, adding an AI-assisted due-diligence and monitoring platform to Nasdaq eVestment. Dasseti covers more than 17,000 managers and general partne...

Intercontinental Exchange, Inc. (NYSE: ICE), one of the world's leading providers of financial market technology and data powering global capital markets, today announced the launch of a new classification service that creates unique, persistent identifiers (IDs) for private credit instruments for the first time. The new identifiers, ICE IDs, are a key part of ICE Private Credit Intelligence, an industry-wide initiative started by ICE and Apollo to build the foundational data infrastructure for the private credit market. ICE IDs will span the investment lifecycle from origination through to the final payoff date and closure of each instrument, including through potential credit events. As an anchor partner, Apollo now applies ICE IDs to its originated credit assets. “As we work to create a master data structure for private credit, ICE IDs are the cornerstone that we build everything else off of, and which link together the key data points that make up an instrument,” said Chris Edmonds, President of ICE’s Fixed Income and Data Services. “ICE has a long history of bringing greater efficiency to financial markets, and we look forward to working with Apollo to build out the ICE Private Credit Intelligence platform and bring greater transparency to the private credit market.” ICE leveraged its experience in reference data to launch ICE IDs and plans to offer additional new datasets through ICE Private Credit Intelligence later this year. As a leading provider of global reference data, ICE offers terms and conditions and corporate actions on over 35 million financial instruments covering more than 210 markets including exchanges and Alternative Trading Systems (ATS). Reference data provides the foundational data for securities that are used for a range of functions, including trading, decision support, order management, clearance, compliance, settlement, reporting and risk management. “We have long believed that enhancing transparency in private credit is essential to the evolution of the asset class, and the introduction of ICE IDs for private credit represents an important milestone that further advances our multi-year efforts across data standardization, secondary market liquidity and price transparency,” said Eric Needleman, Partner and Head of Apollo Capital Solutions. “This new offering establishes a critical component of the foundational data layer we seek to build for private credit, through a trusted and experienced data provider in ICE, to enable an investor experience for private credit that more closely resembles that of public markets.” ICE Private Credit Intelligence was created to establish a private credit infrastructure layer that is consistent with the experience of public credit markets. It offers secure, permissioned data sharing that utilizes a standardized reference data set to enable the flow of deal-level information with authorized counterparties, without exposing proprietary data. It also offers a scalable data extraction and distribution model, leveraging ICE’s technology stack to ingest deal documents, extract key terms and data points, and distribute secured, consistent information at scale. To request an ICE ID for an instrument, please visit: https://iceid.ice.com/.

Intercontinental Exchange, Inc. (NYSE: ICE), one of the world's leading providers of financial market technology and data powering global capital markets, today announced the launch of ICE Private Credit Intelligence, which will bring greater transparency to the private credit market. Apollo (NYSE: APO) is supporting the launch as an anchor partner and ICE expects to onboard additional originators, asset managers and capital markets participants over the coming months. The $40 trillion private credit market has experienced rapid growth over the last decade, fueled by regulatory change, increased adoption among large, high-quality corporate borrowers and growing global demand for long-duration capital. As the market grows and public and private markets converge, the data infrastructure supporting the asset class has not kept pace, creating a need for greater transparency, standardized data and clearer information for investors. ICE Private Credit Intelligence establishes a private credit data infrastructure layer that is largely consistent with the experience of public credit markets. Key features include: * Secure, permissioned data sharing utilizing a standardized reference data set that enables the flow of deal-level information with authorized counterparties without exposing proprietary data broadly. * Scalable data distribution and extraction, leveraging ICE’s technology stack to ingest deal documents, extract key terms and data points and distribute secured, consistent information at scale. * Expanded capabilities over time, including performance analytics and pricing insights to enhance portfolio management, risk assessment and market transparency. “Since ICE was founded over 25 years ago, we have been using sophisticated technology to modernize markets and offer innovative new services to our customers that help manage risk and support their alpha generation initiatives,” said Chris Edmonds, President of ICE Fixed Income and Data Services. “By bringing our vast data science expertise, and working with a leading firm like Apollo, we’re excited to launch a new service that will solve crucial challenges in the private credit market and ultimately offer new opportunities to our customers.” “As private credit continues to scale, the next phase of the market’s evolution will require stronger infrastructure and more standardized data that enables market participants to own and transact in private credit in a way that mirrors the public credit experience,” said Eric Needleman, Partner and Head of Apollo Capital Solutions. “Working with Intercontinental Exchange to develop the foundational data layer that the market has historically lacked is an important step toward improving transparency, enabling more efficient market activity and supporting the continued maturation of private credit.” Apollo is a leader in private credit that has taken several steps to support the continued evolution of the asset class with more frequent pricing and transparency, including launching a dedicated secondary trading effort last year that has already facilitated nearly $10 billion of trading volume. Apollo is also beginning to transition to more frequent pricing reporting across its credit business, as private credit increasingly serves as a core fixed income allocation replacement in investor portfolios amid more fragmented and less liquid public fixed income markets. ICE is a global leader in fixed income and data services, providing comprehensive fixed income execution, clearing and data solutions that can help enhance market insights, manage risks, and uncover investment opportunities. ICE provides fixed income evaluations on approximately three million instruments, reference data across global markets, and indices across all asset classes, with $2 trillion in AUM benchmarked to them. For connectivity and data access, ICE offers a suite of desktop solutions and data feeds, as well as the ICE Global Network, which offers high-quality content, delivery and execution services through ultra-secure, highly resilient fiber and wireless networks.