Lynn Martin, President and COO of ICE Data Services, talks with Chip Barnett about ICE's acquisitions and expansion, and discusses transparency and liquidity in the municipal bond market and the firm's introduction of a real-time AAA muni curve.

The deal will end the family owned Baum's 91-year run in the municipal bond business.

St. Louis-based Stifel said it had reached a definitive agreement to acquire certain assets of Baum, including its municipal bond business.

Nonprofit healthcare consolidation continues with two big multi-state deals.

CommonSpirit Health will sell $2.7 billion of taxable bonds and $3.1 billion of tax-exempt debt, with BBB-plus ratings, into a supply-starved market.

Bank qualified debt, also known as BQ debt and bank eligible, allows banks to deduct most of the carrying cost of those bonds as a business cost.

The Alternative Reference Rates Committee said the recommendations are part of its mandate to address risks in contracts that refer to Libor as part of the larger shift to the Secured Overnight Financing Rate (SOFR).

Fallback language is expected to be released before year-end by the Alternative Reference Rates Committee convened by the Federal Reserve and ISDA.

The muni market has been slow to embrace SOFR but the existing Libor benchmark is set to cease publication in 2022.

All of Hilliard’s municipal advisors and associates agreed to join Baird, expanding its presence in the public finance sector.