Intercontinental Exchange Inc (ICE), the parent company of the New York Stock Exchange, is partnering with Apollo Global Management to develop a dedicated data infrastructure for the private-credit market, in a bid to bring greater transparency to the $1.8tn sector, according to a report by Bloomberg.
Apollo will serve as an anchor partner in the project, with ICE planning to involve additional asset managers and originators over time. The initiative, named ICE Private Credit Intelligence, is designed to provide secure data sharing, scalable distribution, and performance analytics, with future plans for real-time pricing and valuation insights.
Chris Edmonds, ICE’s president of fixed income and data services, described the early-stage project as “focusing on the engine,” highlighting the firm’s intention to build a robust foundational platform for private credit data.
Apollo has already been working to improve transparency in private credit, planning monthly net asset value reporting for its funds and aiming for daily valuations in the future. Last year, Apollo traded $10bn in private credit, often in partnership with banks to facilitate market making. Eric Needleman, head of Apollo Capital Solutions, said the initiative could benefit the broader market by encouraging standardisation and greater visibility.
