ICE and Databricks to Provide Climate Risk Data Insights for Municipal Bond Markets

By: Intercontinental Exchange via Business Wire

November 08, 2023 at 08:30 AM EST

Intercontinental Exchange (NYSE: ICE), a leading global provider of data, technology and market infrastructure, and Databricks today announced a strategic collaboration that unlocks the full potential of ICE’s municipal bond evaluations, reference data and climate risk data in the Databricks Marketplace, powered by Delta Sharing, Databricks’ open-source data sharing protocol.

ICE’s municipal bond climate risk data, paired with ICE's municipal bond evaluations and reference data, provides metrics to help investors include the potential effects of climate change into their decision-making processes relating to municipal bonds. These combined insights can help analysts to better manage municipal bond portfolios and evaluate potential risks.

Databricks’ advanced analytics and processing capabilities, from traditional SQL-generated analytics to the most sophisticated machine learning (ML) and artificial intelligence (AI) projects, empower financial institutions to process and analyze vast datasets with high throughput efficiently. This enables them to make informed decisions regarding portfolio optimization, risk assessment, pricing models, and more. The speed and scalability of Databricks’ data and AI platform are advantageous in handling complex quantitative modeling, risk engine calculations, and algorithmic trading strategies. Furthermore, Databricks' platform, with its unified approach to governance, facilitates collaboration among data scientists, analysts, and quants, promoting data-driven innovation and growth within the dynamic and competitive landscape of capital markets.

"This collaboration is about more than seamlessly sharing data – we're sharing insight, fostering transparency, and providing tools for a resilient future,” said Sarah Branfman, Global VP of ISV Sales at Databricks. “We are thrilled to highlight the integration of ICE data into Databricks Marketplace. As we confront today’s challenges, particularly climate risk, decision-makers must have access to comprehensive data to make informed choices. Databricks’ advanced analytics and scalable processing capabilities combined with the rich ICE data will not only shine a light on the financial nuances in the municipal bond space, it will also allow stakeholders to better understand the gravity of climate risk and derive the insights to protect our future.”

"Our agreement with Databricks will provide financial professionals with access to ICE's extensive municipal bond and climate risk datasets in the Databricks Marketplace, requiring minimal additional infrastructure,” said Mark Heckert, Chief Product Officer at ICE’s Fixed Income and Data Services. “This fosters innovation and transparency and helps customers manage risk in quickly evolving markets.”

About Intercontinental Exchange

Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds and operates digital networks to connect people to opportunity. We provide financial technology and data services across major asset classes that offer our customers access to mission-critical workflow tools that increase transparency and operational efficiencies. We operate exchanges, including the New York Stock Exchange, and clearing houses that help people invest, raise capital and manage risk across multiple asset classes. Our comprehensive fixed income data services and execution capabilities provide information, analytics and platforms that help our customers capitalize on opportunities and operate more efficiently. At ICE Mortgage Technology, we are transforming and digitizing the U.S. residential mortgage process, from consumer engagement through loan registration. Together, we transform, streamline and automate industries to connect our customers to opportunity.

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Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 -- Statements in this press release regarding ICE's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2022, as filed with the SEC on February 2, 2023.

Category: Fixed Income and Data Services

SOURCE: Intercontinental Exchange

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