Intercontinental Exchange launches private credit platform to address transparency concerns
BNN Bloomberg
New York Stock Exchange-parent Intercontinental Exchange said on Tuesday it has launched a product to bring greater transparency to the private credit market, an asset class beleaguered by heightened investor concerns.
Sentiment toward the private credit market has weakened amid worries about valuations and transparency, amplified by last year’s bankruptcies of auto-parts supplier First Brands and car dealer Tricolor.
The product, ICE Private Credit Intelligence, will aim to let firms securely share deal information with approved partners using a common data set, reducing the risk of exposing sensitive details. It will use ICE’s technology to pull key terms from deal documents and distribute data more efficiently.
The platform will also add new tools over time, including performance analysis and pricing insights, to support portfolio management, risk assessment and improve market transparency.
“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.
Apollo Global, a major player in the private credit market, is supporting the launch as an anchor partner, ICE said.
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Representatives from Beijing and Washington began their economic and trade talks in Paris on Sunday, Chinese official news agency Xinhua reported.
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The Trump administration has expanded its trade investigations to 60 countries, including Canada, in an effort to shore up the president’s tariff policies.