ICE and S&P Global Platts Expand Strategic Relationship In Global Oil Markets

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ICE and S&P Global Platts Expand Strategic Relationship In Global Oil Markets

February 21, 2020

ICE - Oil MarketsATLANTA & NEW YORK–(BUSINESS WIRE)– Intercontinental Exchange, Inc. (NYSE:ICE), a leading operator of global exchanges and clearing houses and provider of data and listings services, today announced plans to launch a new version of its market data platform, ICE Connect, which will be designed specifically for participants in the global oil markets. The new service, which is expected to be available in the second quarter of 2020, will include access to leading oil market analytics from S&P Global Platts and other third parties.

ICE Connect offers market participants advanced charting, analytics, news and messaging capabilities and provides access to global real-time exchange and market-moving fundamental data. Through the integration of select Platts oil analytics content, ICE Data Services will provide customers with access to a global refinery database, showing a forward-looking view of refinery capacity, as well as oil storage and vessel tracking amongst other services. These content sets will be integrated into the ICE Connect platform, which already includes ICE’s messaging, proprietary data, execution capabilities and third party content, offering global oil market participants a more efficient way to spot opportunities and manage risk.

“Adding transparency to markets through the use of unique data sets and efficient technology remains a core mission of ICE. As adoption of our ICE Connect platform continues to grow, we’re pleased to offer our customers powerful new tools in the global oil markets, including Platts’ leading analytics, through an efficient delivery mechanism,” said Lynn Martin, President of ICE Data Services. “ICE Connect leverages the vast amount of proprietary data and analytics created from ICE’s global futures exchanges, and other third party providers, and the addition of Platts’ content will further enhance risk management capabilities for ICE’s global oil customer base.”

“This new project with ICE continues to demonstrate S&P Global Platts’ focus on developing better customer-centric digital experiences. By offering both access to Platts’ leading price assessments and our Analytics in refinery, oil storage and ship tracking, we are opening up the opportunity for oil market participants to inform their decision making process in the same environment that many of our clients currently use, better aligning to their workflows,” added Silvina Aldeco-Martinez, Chief Product Officer, S&P Global Platts. “We expect this to be the first step in providing access to more of Platts analytics, forecasts and commodity fundamental data solutions.”

ICE Data Services offers a broad range of data solutions including award-winning pricing and analytics, indices and exchange data via secure, flexible connections. These services help customers address their investing, trading, compliance and risk management requirements across a broad range of asset classes.

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