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Intercontinental Exchange buying 2 smaller S&P market data units

McGraw Hill Financial announced on Tuesday that it will sell two smaller S&P market data units to Intercontinental Exchange.

The two assets are Standard & Poor's Securities Evaluations and Credit Market Analysis, both within the S&P Global Market Intelligence division. SPSE provides fixed income evaluated pricing and CMA provides independent data for over-the-counter markets.

Intercontinental Exchange said in a statement that it can choose to pay in either cash or shares of its own common stock. All other terms of the agreement have not been disclosed.

Mike Chinn, president of S&P Global Market Intelligence, said in a statement that his division doesn't have a critical mass in securities pricing.

"ICE is positioned to expand coverage in derivatives and offer a multiasset class, comprehensive source for pricing and reference data, so clients of SPSE and CMA will benefit as well," he said.

"With rising demand for independent data in the global fixed income and credit markets, this transaction will support the need for innovation and increased risk management and valuation services," said ICE's chairman and CEO, Jeffrey Sprecher.