Intercontinental Exchange (NYSE:ICE), parent company of the New York Stock Exchange, is taking on the private credit market.

ICE Private Credit Intelligence is designed to enable firms to securely share deal information with approved partners using a standardized data set, minimizing the risk of exposing sensitive details. 

Apollo (NYSE:APO) is supporting the launch as an anchor partner.

Key features include advanced technology for processing deal documents, extracting key terms, and distributing secure, consistent information at scale. The platform also offers performance analytics, pricing insights, and enhanced portfolio management, risk assessment, and market transparency.

Using a standardized reference data set, ICE ensures proprietary data remains protected while facilitating information exchange among authorized counterparties. Additional originators, asset managers, and capital market participants will be onboarded in the coming months.

"As private credit continues to scale, the next phase of the market's evolution will require stronger infrastructure and more standardized data that enables market participants to own and transact in private credit in a way that mirrors the public credit experience," said Apollo Capital Solutions Partner Eric Needleman. 

"Working with Intercontinental Exchange to develop the foundational data layer that the market has historically lacked is an important step toward improving transparency, enabling more efficient market activity and supporting the continued maturation of private credit."

The private credit market has been under fire the last several months amid concerns that software will become obsolete due to the advancements made by artificial intelligence.

Banks have issued warnings or restricted lending in their private credit portfolios recently amid the sector frenzy. 

JPMorgan Chase restricted lending to loans associated with software companies, while Morgan Stanley curbed redemptions after investors sought to withdraw nearly 11% of shares from its North Haven Private Income Fund.

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