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ICE to acquire BofA Merrill Lynch index platform

Intercontinental Exchange Inc. will buy Bank of America Merrill Lynch's global research index platform.

The platform holds more than 5,000 fixed income, currency and commodity indexes.

Deal terms were not disclosed, but acquisition-related costs are not expected to have a material impact on ICE's 2017 financial results. The deal is expected to close in the second half of the year.

Post-completion, the platform's indexes will become part of ICE's data services and be rebranded as the ICE BofAML indexes. Assets under management benchmarked against the combined fixed-income index business will amount to almost $1 trillion, ICE said in a press release.