Intercontinental Exchange, the company that owns the New York Stock Exchange, and human resources company ADP are launching a new service designed to help investors better assess the stability and creditworthiness of issuers in the U.S. municipal bond market.
The new service links human resources and compensation data from ADP directly to more than one million municipal bonds covered by ICE’s reference data service. This will allow municipal bond investors to assess a wide range of dynamics that could impact a municipal issuer.
“This data is incredibly powerful and can be used by market participants to drill into the financial stability of a municipal issuer,” Lynn Martin, president of fixed income & data services at ICE, said. “ADP’s human capital data is impressive in its timeliness and breadth of coverage, and by linking it to our municipal fixed income data, we’re able to give investors and market participants convenient access to a broad set of alternative datasets to better understand the implications and risks of their investments.”
Users will have access to granular aggregated and anonymized human capital data, including average gross pay, total projected income, average commute distance, details into specific job sectors, and more than 50 other distinct fields. Further, the data can be used to see trends over time to help users see how a municipality or region’s population changed over time. The data will be consistently updated with ADP’s anonymized and aggregated data.
“Our work with ICE highlights that ADP’s anonymized and aggregated data can help investors discover and better understand the U.S. municipal bond environment,” Jack Berkowitz, chief data officer at ADP, said. “ADP serves more than 900,000 clients worldwide, including approximately 75% of the Fortune 500. Our depth of information and data makes us a powerful input for real-time socioeconomic analysis.”