Northeastern spinout, risQ, provides Climate Analytics for Municipal Bond Market
Breckinridge Capital Advisors Selects ICE Climate Risk, Powered by risQ to Provide Data and Analytics for the Municipal Bond Market
April 21, 2020 08:30 AM Eastern Daylight Time
ATLANTA & NEW YORK–(BUSINESS WIRE)–Intercontinental Exchange, Inc. (NYSE: ICE), a leading operator of global exchanges and clearing houses and provider of data and listings services, today announced that Breckinridge Capital Advisors has selected ICE Climate Risk, Powered by risQ, to provide climate risk data and analytics on the municipal bond market. ICE Climate Risk was launched by ICE Data Services and risQ to provide innovative climate risk analytics, to enable the municipal bond ecosystem to incorporate climate risk into project and investment decisions.
“The combination of our industry leading evaluated prices and reference data together with geospatial data from risQ provides our customers with the ability to assess climate driven risks in the municipal bond market in an efficient manner.”
“In a very short time, ESG has become a critical component of investment portfolios, and Breckinridge is at the forefront of those offerings,” said Lynn Martin, President of ICE Data Services. “The combination of our industry leading evaluated prices and reference data together with geospatial data from risQ provides our customers with the ability to assess climate driven risks in the municipal bond market in an efficient manner.”
Breckinridge is an independently owned asset management firm specializing in investment grade fixed income portfolios and has been a first mover in integrating ESG into its investment framework. The firm was recently awarded an ESG Manager Award by Chief Investment Officer for its innovation and outstanding approach in ESG and climate integration.
“ICE Climate Risk gives us increased visibility into the environmental risks that exist in the municipal bond market,” said Michael Bonanno, vice president, analyst and municipal sustainability lead at Breckinridge Capital Advisors. “The level of granularity that risQ and ICE provides is of value and adds a new component to evaluating a security for potential risk, while also matching the requirements that we’re seeing from clients to include ESG as a factor in investments.”
ICE Climate Risk, Powered by risQ combines cutting-edge climate science, catastrophe modelling and geospatial machine learning technology from risQ with ICE Data Services’ leading municipal pricing and reference data to offer a new tool to quantitively measure climate risk in municipal bonds.
“The importance of climate risk to the municipal bond market is becoming increasingly clear, increasingly pressing and, with risQ’s analytics, increasingly quantified and actionable,” said Evan Kodra, CEO of risQ. “Breckinridge has been both a thought partner and among a dozen testing partners. We’re proud to have a market leader like Breckinridge using risQ’s analytics via our partners at ICE.”
About Intercontinental Exchange
Intercontinental Exchange (NYSE: ICE) is a Fortune 500 company formed in the year 2000 to modernize markets. ICE serves customers by operating the exchanges, clearing houses and information services they rely upon to invest, trade and manage risk across global financial and commodity markets. A leader in market data, ICE Data Services serves the information and connectivity needs across virtually all asset classes. As the parent company of the New York Stock Exchange, the company is the premier venue for raising capital in the world, driving economic growth and transforming markets.
About Breckinridge Capital Advisors
Breckinridge Capital Advisors is a Boston-based asset management firm specializing in investment-grade fixed income portfolios. With $40 billion in assets under management, Breckinridge serves a wide variety of clients ranging from private clients to institutions. Working through a network of investment consultants and advisors, Breckinridge offers sector-focused, multi-sector and sustainable bond strategies in customized separate accounts. For more information, please visit https://www.breckinridge.com/.
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Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 — Statements in this press release regarding ICE’s business that are not historical facts are “forward-looking statements” that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE’s Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE’s Annual Report on Form 10-K for the year ended December 31, 2019, as filed with the SEC on February 6, 2020.
Evaluated pricing (including fixed income evaluations), continuous evaluated pricing, end-of-day evaluations, and Fair Value Information Services related to securities are provided in the US through ICE Data Pricing & Reference Data, LLC and internationally through ICE Data Services entities in Europe and Asia Pacific.
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