ICE Data Services hires another from Bloomberg

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Sowjana Sivaloganathan, who was municipal markets product manager at Bloomberg for the past 20 years, has joined Intercontinental Exchange’s ICE Data Services to focus on fixed-income product management.

“As we continue to create tools which add transparency to fixed-income markets, we’re thrilled to have someone like Sowjana join as a core member of the team,” said Lynn Martin, president of ICE Data Services. “Her extensive background and experience in municipal markets and product development is crucial as we evolve our services.”

Sivaloganathan will be focused on fixed-income product management, geared toward the front and middle office. She will be on the product development team at ICE Data Services, reporting to Tim Monahan, senior director of product management.

“In a short period of time, ICE has established itself as a market leader in the fixed-income markets,” Sivaloganathan said. “I’m excited to join ICE Data Services as they create new products for the front and middle office that bring greater transparency and insights into the municipal bond markets. The market is primed for both innovation and disruption to how our business is done, and ICE is uniquely positioned to help drive that forward.”

The move brings another high-profile figure into a changing municipal benchmarking and data universe and bolsters ICE’s products and data services.

Sivaloganathan is among at least three people ICE has hired from Bloomberg in the past seven months. In August, ICE hired Pierce Lord from Bloomberg LP’s BVAL to focus on developing ICE's analytics offerings, and, in October, ICE hired Varun Pawar, formerly global head of Bloomberg LP’s BVAL. Pawar joined the Pricing and Analytics team at ICE Data Services.

Bloomberg declined to comment on the most recent move.

Sivaloganathan spent the last 10 years of her time at Bloomberg as a municipal market/fixed income product manager, where she gained experience in building efficient workflow solutions for both the primary and secondary muni markets.

Sivaloganathan got her start as a special project consultant for the United Nations.

She graduated from the London School of Economics and Political Science with a Bachelor’s of Science in Economics.

ICE Data Services introduced its municipal bond benchmark curve, the ICE US Broad Municipal Index, in mid-June.

ICE also last year acquired several fixed income volatility indices from Bank of America, including the Merrill Lynch Option Volatility Estimate (MOVE) index.

The ICE US Broad Municipal Index (ticker: MUNI) tracks the performance of more than 58,000 investment-grade tax-exempt municipal bonds representing more than $1.6 trillion in total market capitalization.

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