Intercontinental Exchange, Inc. (NYSE:ICE) today announced the launch of ICE Private Credit Intelligence, which will bring greater transparency to the private credit market.

Apollo (NYSE:APO) is supporting the launch as an anchor partner and ICE expects to onboard additional originators, asset managers and capital markets participants over the coming months.

ICE Private Credit Intelligence establishes a private credit data infrastructure layer that is largely consistent with the experience of public credit markets. Key features include:

Secure, permissioned data sharing utilizing a standardized reference data set that enables the flow of deal-level information with authorized counterparties without exposing proprietary data broadly.

Scalable data distribution and extraction, leveraging ICE’s technology stack to ingest deal documents, extract key terms and data points and distribute secured, consistent information at scale.

Expanded capabilities over time, including performance analytics and pricing insights to enhance portfolio management, risk assessment and market transparency.

“Since ICE was founded over 25 years ago, we have been using sophisticated technology to modernize markets and offer innovative new services to our customers that help manage risk and support their alpha generation initiatives,” said Chris Edmonds, President of ICE Fixed Income and Data Services. “By bringing our vast data science expertise, and working with a leading firm like Apollo, we’re excited to launch a new service that will solve crucial challenges in the private credit market and ultimately offer new opportunities to our customers.”

“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 Eric Needleman, Partner and Head of Apollo Capital Solutions. “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.”