Intercontinental Exchange (ICE) entered into a definitive agreement to acquire Standard & Poor’s Securities Evaluations Inc. (SPSE) and Credit Market Analysis, two assets under the S&P Global Market Intelligence business unit, from McGraw Hill Financial.
Financial technology, or “fintech” startups as they are often referred to, are having a moment. Final figures aren’t in for 2015 yet, but through the third quarter these companies received $10.5 billion in funding worldwide according to CB Insights.
Fintech Innovation continues to accelerate at a remarkable pace. And while competition is fierce — as firms jockey for capital and to expand their audience — the industry gathers once a year to celebrate the hottest startups in finance at the Benzinga Awards Gala.
The growing demand to collect and store data has put pressure on organizations across various industries. Cloud access and capacity have become commodites and there is now a market to trade and hedge them.
What a difference a year makes. This time last year investors were particularly bullish on banks as they were expected to benefit from higher bond yields, rising inflation expectations and an improving economic picture.