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Intercontinental Exchange (NYSE:ICE), a leading global provider of data, technology and market infrastructure, and Databricks today announced a strategic collaboration that unlocks the full potential of ICE’s municipal bond evaluations, reference data and climate risk data in the Databricks Marketplace, powered by Delta Sharing, Databricks’ open-source data sharing protocol.
ICE’s municipal bond climate risk data, paired with ICE's municipal bond evaluations and reference data, provides metrics to help investors include the potential effects of climate change into their decision-making processes relating to municipal bonds. These combined insights can help analysts to better manage municipal bond portfolios and evaluate potential risks.
Databricks’ advanced analytics and processing capabilities, from traditional SQL-generated analytics to the most sophisticated machine learning (ML) and artificial intelligence (AI) projects, empower financial institutions to process and analyze vast datasets with high throughput efficiently. This enables them to make informed decisions regarding portfolio optimization, risk assessment, pricing models, and more. The speed and scalability of Databricks’ data and AI platform are advantageous in handling complex quantitative modeling, risk engine calculations, and algorithmic trading strategies. Furthermore, Databricks' platform, with its unified approach to governance, facilitates collaboration among data scientists, analysts, and quants, promoting data-driven innovation and growth within the dynamic and competitive landscape of capital markets.
"This collaboration is about more than seamlessly sharing data – we're sharing insight, fostering transparency, and providing tools for a resilient future,” said Sarah Branfman, Global VP of ISV Sales at Databricks. “We are thrilled to highlight the integration of ICE data into Databricks Marketplace. As we confront today’s challenges, particularly climate risk, decision-makers must have access to comprehensive data to make informed choices. Databricks’ advanced analytics and scalable processing capabilities combined with the rich ICE data will not only shine a light on the financial nuances in the municipal bond space, it will also allow stakeholders to better understand the gravity of climate risk and derive the insights to protect our future.”
"Our agreement with Databricks will provide financial professionals with access to ICE's extensive municipal bond and climate risk datasets in the Databricks Marketplace, requiring minimal additional infrastructure,” said Mark Heckert, Chief Product Officer at ICE’s Fixed Income and Data Services. “This fosters innovation and transparency and helps customers manage risk in quickly evolving markets.”
