Sector: Financials | Focus: Financial Exchanges & Data
HQ: Atlanta, Georgia
Financial Risks
Global market conditions (interest rates, inflation, volatility, geopolitical events), regulatory changes (increased bank capital requirements, EMIR 3.0, benchmarks regulation, ESG data regulation, equity market structure rules), volatility in commodity and equity prices, accuracy of financial estimates, ability to incur and repay debt, maintaining market participants, attracting new customers, and potential litigation and regulatory actions. The company's mortgage technology segment is vulnerable to high mortgage rates.
Financial Upside
Increased trading volume in some products (interest rates, equities, CDS, bonds), strong customer retention and new customer acquisition in data and connectivity services, and the potential synergies from the Black Knight acquisition (new product development, expense synergies, new markets). The company's exchanges segment shows growth in energy, agricultural, and financial futures and options volume.
