Intercontinental Exchange to buy fixed-income marketplace for $685M in cash


Intercontinental Exchange is spending $685 million to expand its portfolio in the global fixed income markets.

The Atlanta-based Fortune 500 company announced it entered into an agreement to acquire TMC Bonds LLC for $685 million in cash, with the transaction expected to close in the second half of 2018.

With the acquisition, Intercontinental Exchange (NYSE: ICE), which owns the New York Stock Exchange, adds a fixed-income marketplace that supporting anonymous trading across multiple protocols.…

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