Intercontinental Exchange

American Financial Exchange, LLC is a self-regulated exchange based in Chicago, Illinois, founded in 2015. It provides a centralized, electronic marketplace designed to help small and mid-sized American banks meet their interbank funding needs. By connecting banks and financial institutions, American Financial Exchange offers benchmark interest rates that reflect the actual borrowing costs of these institutions. The platform facilitates daily transactions of overnight unsecured loans, enabling participants to access necessary funding while also ensuring transparency in the borrowing costs associated with interbank lending. The company has established a strategic partnership with Citi to enhance its services.

TMC Bonds L.L.C. is a financial services firm that functions as a fixed income market alternative trading system, specializing in customized desktop applications for both registered investment professionals and retail investors in the United States. Founded in 2000 and headquartered in New York, the company provides a range of trading and analytical tools, including a trader workstation that delivers real-time market data, compliance tools, and price discovery capabilities. Their services cater to various clients, including institutional investors, broker/dealers, and retail brokerage clients, by facilitating anonymous trading across multiple protocols for different asset classes such as municipals, corporates, and treasuries. TMC Bonds also offers an advisor workstation, client investor portals, and support for secondary municipal bond insurance, catering to the needs of wealth management entities and financial institutions. In 2011, the company changed its name from TheMuniCenter LLC and is now a subsidiary of Intercontinental Exchange, Inc.

Euroclear is a prominent provider of post-trade services in the financial industry, established in 1968 and headquartered in Brussels, Belgium. The company specializes in the settlement and custody of both domestic and cross-border securities, including bonds, equities, and derivatives. Euroclear serves a diverse clientele, including wealth managers, institutional investors, transfer agents, custodians, and fund managers, offering a range of services such as fund management, fund distribution, transaction settlement, asset servicing, and collateral management. Known for its resilience and commitment to efficiency, Euroclear plays a crucial role in enhancing risk mitigation and automating processes within the capital markets.

Credit Market Analysis functions as an independent data provider specializing in over-the-counter markets. The company delivers comprehensive market insights and information services, focusing on fixed income pricing, analytics, and trading solutions. Its offerings include a diverse range of proprietary market data and tools that cater to global fixed income, equities, commodities, foreign exchange, and options markets. By supplying essential data and analytics, Credit Market Analysis enables traders to effectively manage risks and make informed decisions tailored to their specific geographical needs.

Ballista Securities, LLC is a registered broker/dealer offering the Ballista ATS, a new destination for equity option traders to execute block-sized volatility, complex multi-leg strategies and directional orders. The Ballista ATS is the result of decades of equity and options market-making experience, combined with computing technology expertise. At Ballista's core is an obsession to provide the sell-side community with a fundamentally pure mechanism for the execution of exchange-traded derivatives and an automated alternative to the slow, inefficient manual processes of phone calls and instant messages.

Creditex acts as an interdealer broker for credit default swaps and bonds. It also operates a hybrid model of voice and electronic execution system. The company is based in the United Kingdom.