Stocks

Intercontinental Exchange sets up India operations

V Rishi Kumar Hyderabad | Updated on November 13, 2019 Published on November 13, 2019

The Hyderabad centre to serve its global clientele

Intercontinental Exchange, Inc., has announced the launch of its India operations in Hyderabad formally opening its facility which will initially focus on ICE Data Services’ reference data.

The NYSE-listed operator of global exchanges, clearing houses and provider of data and listings services, with its Hyderabad facility, plans to offer pricing and analytics, indices and exchange data. These services help it’s customers address their investing, trading, compliance and risk management requirements across a broad range of asset classes.

Initially, ICE Data Services India will start operations with more than 500 staff, with the flexibility to add several hundred additional employees in the future. The Hyderabad centre is equipped with systems that can support the complexity of breaking down voluminous data and present it in a range of formats that are meaningful for their clients.

“India is an important part of ICE’s global growth strategy and a vital resource as we partner with and serve customers around the world,” said Benjamin Jackson, President of Intercontinental Exchange.

“With its deep pool of talent and diverse culture, our investment in India will help grow ICE Data Services and other elements of our business which form the core of our comprehensive trading and risk management offerings for our customers.”

Jackson told BusinessLine “the Indian operation is strategic as it will enable to scale and offer a wider range of services to our growing global customer base across different markets, including the US and the UK.”

Sachi Pati, Head, ICE India, will lead the Indian operations. The ICE facility at RMZ The Sky View in the IT hub of Gachibowli spans 85,000 square feet and can accommodate up to 750 employees, most of whom will be engineers and finance professionals engaged in data science.

“Hyderabad offers us several advantages given its status as a fast-emerging hub for data services,” said Sachi Pati. “Good business and social infrastructure, connectivity across the globe, and its reputation for attracting a large number of MNCs over the last few years made it an ideal choice for setting up of our operations in Hyderabad.”

“Analysts, researchers, and programmers working in our Hyderabad centre will help provide reference data that our clients use to gain more transparency into global markets, which helps them make more informed trading and business decisions, and manage risk efficiently,” said James Brooks, Chief Operating Officer of ICE Data Services.

Intercontinental Exchange is a Fortune 500 company formed in 2000. It serves customers by operating the exchanges, clearing houses and information services that rely on it to invest, trade and manage risk across global financial and commodity markets.

Published on November 13, 2019
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