ICE expands Canadian bond data with CanDeal partnershi

ATLANTA & NEW YORK & TORONTO - Intercontinental Exchange, Inc. (NYSE:ICE), a prominent provider of technology and data services, has announced a collaboration with CanDeal DNA, enhancing its fixed income data services with intraday updates for Canadian securities. This move, revealed today, aims to provide clients with more frequent and detailed market insights.

Through the agreement, ICE will now offer hourly updates from 8 AM to 5 PM ET on pricing, spreads, and analytics for Canadian fixed income markets. This service is an augmentation of ICE’s existing suite, which includes end-of-day reference prices for over 80,000 Canadian fixed income securities. This expansion aligns with ICE’s growth trajectory, as InvestingPro analysis shows the company has maintained strong profitability and currently trades near its 52-week high of $169.75.

Chris Edmonds, President of Fixed Income & Data Services at ICE, emphasized the significance of this enhancement, stating that it represents a substantial value addition for their clients. The integration with CanDeal DNA aims to enable clients to make more informed investment decisions and manage risk with access to comprehensive and timely market data.

Robin Hanlon, Head of Strategic Partnerships at CanDeal DNA, also expressed enthusiasm for the partnership, highlighting the benefits of providing market participants with timely price discovery and insights by security and sector to support their strategies in Canadian fixed income.

The initiative is part of ICE’s broader suite of pricing and analytics products designed to support real-time decision-making and offer clients greater flexibility and precision in their processes. The company’s commitment to growth is reflected in its consistent dividend payments, having raised its dividend for 13 consecutive years with a current yield of 1.15%. For deeper insights into ICE’s financial health and growth prospects, investors can access comprehensive analysis through InvestingPro, which offers additional ProTips and detailed metrics about the company’s performance.

Intercontinental Exchange operates global markets and clearing houses, including the New York Stock Exchange, and provides data services across major asset classes. CanDeal Group, a leading electronic marketplace and data service provider for Canadian dollar debt securities and derivatives, brings its expertise in dealer-sourced OTC content for pricing and analytics to the partnership.

This collaboration between ICE and CanDeal DNA marks a significant development in the provision of high-resolution data for the Canadian fixed income market. The information for this article is based on a press release statement from Intercontinental Exchange.

In other recent news, Intercontinental Exchange reported stronger-than-anticipated fourth-quarter results for 2024, with earnings per share (EPS) and revenue figures surpassing expectations. This led to TD Cowen raising its price target for the company’s shares from $171.00 to $191.00, maintaining a Buy rating. Keefe, Bruyette & Woods also increased their price target to $186 from $178, reiterating an Outperform rating, despite top-line results falling slightly short of their expectations.

Moreover, Raymond (NSE:RYMD) James raised its price target from $185.00 to $195.00 due to the robust Exchange results. The firm emphasized Intercontinental Exchange’s ability to deliver strong revenue and EPS growth across various market conditions.

Furthermore, Intercontinental Exchange announced plans to increase dividends and resume share repurchases, following a slight miss on analyst estimates for Q4 earnings. The company declared a quarterly dividend of $0.48 per share, a 6.7% increase from the prior dividend, and expects to resume share repurchases in the first quarter of 2025.

These are among the recent developments for Intercontinental Exchange, reflecting analyst confidence in the company’s performance and future prospects. The company’s ability to navigate the current market environment effectively and its potential for further growth are highlighted by these actions and adjustments.

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