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ICE

IntercontinentalExchange

$66.12

-0.73 (-1.09%)

, BAC

Bank of America

$27.17

0.59 (2.22%)

13:34
10/22/17
10/22
13:34
10/22/17
13:34

IntercontinentalExchange completes BofA Merrill's Index Platform acquisition

Intercontinental Exchange (ICE) announced it has completed its acquisition of the Bank of America Merrill Lynch (BAC) Global Research division's fixed income index platform, which will become part of ICE Data Services. Terms of the agreement were not disclosed and the financial impact of the transaction will be immaterial to ICE in 2017. The acquired indices will be renamed ICE BofAML Indices and will become part of ICE Data Services' suite of businesses, which provides proprietary indices, and third-party index and ETF calculation services, as well as proprietary market data, pricing and analytics, desktops and connectivity solutions. ICE BofAML Indices are the second largest fixed income indices by assets under management globally, and with the completion of this acquisition, the AUM benchmarked against the combined fixed income index business of ICE will be nearly $1T. ICE BofAML Indices will be offered alongside ICE's existing index offering, which includes the ICE U.S. Treasury indices, which were introduced in 2015, and ICE's index services, which serve as the basis for ETFs and structured products across fixed income, currencies, equities and commodities. The collective index families are powered by ICE Data Services' award-winning evaluated prices, reference data and analytics, which provide high-quality information on more than 10 million financial instruments across all major asset classes, including futures, options, equities and fixed income. The full suite of ICE BofAML Indices are available on ICE's Global Index System (GIS), as well as a broad range of third-party research platforms and execution venues. To register for an extended complementary trial to GIS, please click here. For more information about ICE Index Services, please visit URL

ICE

IntercontinentalExchange

$66.12

-0.73 (-1.09%)

BAC

Bank of America

$27.17

0.59 (2.22%)

  • 22

    Oct

  • 23

    Oct

  • 02

    Nov

ICE IntercontinentalExchange
$66.12

-0.73 (-1.09%)

03/30/17
RBCM
03/30/17
INITIATION
RBCM
Sector Perform
IntercontinentalExchange resumed with a Sector Perform at RBC Capital
RBC Capital analyst Peter Lenardos resumed coverage on IntercontinentalExchange with a $60 price target saying shares are fairly valued.
07/12/17
SBSH
07/12/17
INITIATION
Target $67
SBSH
Neutral
IntercontinentalExchange initiated with a Neutral at Citi
Citi analyst Ben Herbert started IntercontinentalExchange with a Neutral rating and $67 price target. The analyst sees "limited incremental growth and a full valuation."
07/13/17
RBCM
07/13/17
UPGRADE
RBCM
Outperform
IntercontinentalExchange upgraded to Outperform from Sector Perform at RBC Capital
09/08/17
LEHM
09/08/17
INITIATION
Target $72
LEHM
Overweight
IntercontinentalExchange initiated with an Overweight at Barclays
Barclays analyst Jeremy Campbell started IntercontinentalExchange with an Overweight rating and $72 price target. The analyst initiated U.S. Brokers, Asset Managers & Exchanges with a Neutral industry view.
BAC Bank of America
$27.17

0.59 (2.22%)

07/11/17
BARD
07/11/17
NO CHANGE
BARD
Big bank set-up not great, would sell into extended rally, says Baird
Baird analyst David George does not see a great set-up for money-center banks heading into Q2 earnings. He said the trade looks crowded and he would be a seller into an extended rally. George said the risk/reward is less attractive following the sector's most recent rally as economic growth remains muted and the pace of NIM expansion may slow. George believes the biggest potential catalyst would be a gradual steepening of the yield curve and pick-up on loan growth.
07/18/17
NOMU
07/18/17
NO CHANGE
Target $27
NOMU
Buy
Bank of America NII softness could weight on shares, says Nomura Instinet
Nomura Instinet analyst Steven Chubak said Bank of America reported a modest core beat but the NII miss and elevated bar for Q3 could result in modest share underperformance. The analyst remains encouraged by fee income resiliency, favorable credit trends, strong capital build, and compelling risk/reward, and reiterates his Buy rating and $27 price target.
08/09/17
WELS
08/09/17
INITIATION
WELS
Outperform
Bank of America resumed with an Outperform at Wells Fargo
Wells Fargo analyst Mike Mayo resumed coverage of Bank of America with an Outperform rating and $30 price target.
10/16/17
BMOC
10/16/17
NO CHANGE
Target $29
BMOC
Market Perform
Bank of America price target raised to $29 from $27 at BMO Capital
BMO Capital analyst James Fotheringham raised his price target on Bank of America following Q3 earnings to reflect higher than expected net interest margins. Fotheringham notes that among the top four banks, Bank of America is the only one offering positive return potential. The analyst also sees positive broader trends and an opportunity to buy credit-sensitive stocks, as "investors remain bullish on rates but bearish on credit". Fotheringham maintains a Market Perform rating on Bank of America.

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