Intercontinental Exchange, Inc., one of the world’s leading providers of financial market technology and data powering global capital markets, announced the launch of a new classification service that creates unique, persistent identifiers (IDs) for private credit instruments for the first time.

The new identifiers, ICE IDs, are a key part of ICE Private Credit Intelligence, an industry-wide initiative started by ICE and Apollo to build the foundational data infrastructure for the private credit market. ICE IDs will span the investment lifecycle from origination through to the final payoff date and closure of each instrument, including through potential credit events. As an anchor partner, Apollo now applies ICE IDs to its originated credit assets.

“As we work to create a master data structure for private credit, ICE IDs are the cornerstone that we build everything else off of, and which link together the key data points that make up an instrument,” said Chris Edmonds, President of ICE’s Fixed Income and Data Services. “ICE has a long history of bringing greater efficiency to financial markets, and we look forward to working with Apollo to build out the ICE Private Credit Intelligence platform and bring greater transparency to the private credit market.”

ICE leveraged its experience in reference data to launch ICE IDs and plans to offer additional new datasets through ICE Private Credit Intelligence later this year. As a leading provider of global reference data, ICE offers terms and conditions and corporate actions on over 35 million financial instruments covering more than 210 markets including exchanges and Alternative Trading Systems (ATS). Reference data provides the foundational data for securities that are used for a range of functions, including trading, decision support, order management, clearance, compliance, settlement, reporting and risk management.

“We have long believed that enhancing transparency in private credit is essential to the evolution of the asset class, and the introduction of ICE IDs for private credit represents an important milestone that further advances our multi-year efforts across data standardization, secondary market liquidity and price transparency,” said Eric Needleman, Partner and Head of Apollo Capital Solutions. “This new offering establishes a critical component of the foundational data layer we seek to build for private credit, through a trusted and experienced data provider in ICE, to enable an investor experience for private credit that more closely resembles that of public markets.”

ICE Private Credit Intelligence was created to establish a private credit infrastructure layer that is consistent with the experience of public credit markets. It offers secure, permissioned data sharing that utilizes a standardized reference data set to enable the flow of deal-level information with authorized counterparties, without exposing proprietary data. It also offers a scalable data extraction and distribution model, leveraging ICE’s technology stack to ingest deal documents, extract key terms and data points, and distribute secured, consistent information at scale.

To request an ICE ID for an instrument, please visit: https://iceid.ice.com/.

Source: ICE