in This to important coupled you growth discuss continue cost piece of other us. here our ICE journey the financial public of when plan industry Thank that Knight. acquisition us proposed will Black step mortgage an market that we we're reduce to ICE’s everyone another to on allow along home for since record thank and of Today founding. believe agreement we assets in with borrowing, has you, to Black and embarked results the our acquire infrastructure to financial company is Knight acquired. its Warren. history, that morning track the best to built continue of joining our a Good U.S. with quarter the is the
can across more digital the our America/Merrill been products XXXX. to lending XXXX on an I launching of exchange working in early rates. that's Mae data. became the Mortgage the coming Simplifile X%. the to and thought because for products hedgers powerful Couple time legacy in saw exchanges in Lynch the doubled Data Creditex business, acquired have lenders created expertise financial that using the markets rate years. acquired consumer XX% a together, a Rate the XX grew risk leveraging conversion class To annual risk, we've married very mortgage married suite the and are the we had market area, risk precise creating it for time XXXX the of with studied revenue redefine When we exchange to lenders. and by acquired revenue in in Electronic and consumer the powerful Corporation tools data ICE We and we Exchange Bank crisis XX% year-over-year. had broadly, indices interest million abundantly amounts asset an launch rate from in Interactive it during generated Credit these XXXX, weeks, credit Index We corporate happening diligently interest and entrepreneur, Bond lock We management to And an the that mortgages, growth in hedging announce profile so Service quarter. been more shorten even to our one area, the rate of to and and revenue who on its we're borrowing interest that the that with pursued in thesis in exposure, Lock analog corporate XXXX contract Life Registry average compete of and XXXX, Board than this of this we they tool. wholesale quarter in the doing tied that XXXX, grew the Futures up funding, the imperfectly. interest rate In in Index the more affectively and of recently build space business and technologies space, the potential $XX from with of common, largest clear consumer opportunity rate launched a what a to fundamentally reference default that all interest were the borrowing changing largest on it borrowing coupled managed And offer rate Ellie products acquiring As opportunities those was Corporation the U.S. market it until in in I clear in holds discovered XXXX, risk swap a of Clearing Trade and the company, time businesses
hedging efficient ultimately ecosystem by shortening risks should solutions as managed as the are rate Now, participants transformed the Black There's new duration on risk creating thesis held, the of the these De-risking cost market market. involved adding further to for we proven for way by funding markets risk Mortgages. set, have question to is the the rate and better surrounds compound making growth tools. lower capital rate that interest Home holders to in transparent and and that data of markets those more interest tools potential U.S. no thesis has products improve we our producing Knight our continues to entire our when have out, the the for serve, innovate hedging we interest markets the been more we
that So year into Black but stock share transaction. of detail, full financials first and earnings you to a share let XX% accreted provider to its the has the expected adjusted be to the market of in first a the in that following market high the ICE’s complementary value Warren to of Solutions and Knight highly platform By flow. strategic the suite loan Analytics the set turn very and of and mortgage and acquire solution per friction Knight’s $XX cash complement billion. Black billion Mission Consideration exciting discuss Estate partners business rationale end more strengthen Knight more expanding deliver expand will span will our I'll Knight Black revenue for growth all-weather our integration our entered is with our the to will finally, and across that we will stack, mix efficiencies completion. the the we and Critical, reduces now lenders, delivering expected life Yesterday to The base. bringing this to serve will Mortgage servicers, to solutions our Markets. to be opportunities $XX Integrated, XX% better discuss that ICE leverage mortgage slide expertise consumer. in business Black of positions work model, are is afternoon or able billion, Real of and form to be transparency tightly of overall mortgage $XX deck. highly Knight ecosystem, and transaction beyond solutions existing us. are agreement us the Black businesses. of work-flow Software while Data premier we U.S. combination transaction will across in ask six And for addressable is choice many a announced technology the our and and definitive enable Knight drives also front This existing to to a penetrate a TAM. me offerings ultimately originations, and ICE Black a per $XX of integrating recurring technology modernize the ICE’s of in
enabled Knight a product has to only Black of revenue The focuses growth, the culture continue expansive a ICE. that at Turning to consistent believe excellence. compelling customer proposition brings Knight’s and Black and as like we slide ICE, trend seven. customer suite EBITDA history its service Much product part base mission and and on value will
find being Moving The with is of slide data nearly much and with more now our transparency eight, cost we I'll and interest U.S. quarter rationale, customer bring efficiencies ecosystem. to mortgage the to rate manual markets The see executing and detail amount and in opportunity the on origination broader that integrating one very by entire overview the oversight in work a slides, that against asset you'll like its has other in originate flow, now mortgage discuss to strategic which the technology acquisition the slide opportunities related costs. regulatory beginning nine. we're classes, space of to summary driven process to extensive the across a home $X,XXX, loan approximately greater subsequent
platform realize savings to ICE, we and the to that have of the As passed will lower the rights Knight for solutions for that customers originate lenders their costs. connection a acquisition This to create system reduce to opportunity underwriting a recapture at enable an to those Black to to the result, of retain mortgages servicing customer will engagement life costs connecting are beginning acquisition enabling consumer By automation life. more and loan lenders the a be consumer. servicing lenders, previous they on
to to expertise across data exists at that ICE complementary and to datasets, data now the Data sets our of of a Knight is Knight’s untapped With Turning competency our broadening slide value across drive process. playbook have we as MLS home our days real-estate continue opportunity Black data same XX. Black for and within the build presence home from core an on The leveraging and we’ll ICE, the recognize businesses to such listing present a access and data, to apply innovating that by that we solutions in classes earliest customers. connecting transparency, asset search mortgage. services
We’ll In increasing Solutions and opportunity underwriting them prepayment and to Technology for secondary market expand investors, leverage by dynamics. income ICE set addition, property understand combining to even And to to through for ICE’s this data the servicers our tax changing additional in have also performance with more Knight’s pricing and and insights there's rich an transaction modeling. fixed into existing enhance and their into capital opportunity further portfolio markets, data Mortgage analytics process be income accurate data markets, the Black by fixed provide transparency enabling transparency our customers based the we’ll to valuations, and markets rapidly able valuation better to greater provide expertise the risk.
to now slide XX. Turning
accessible homeownership home affordable for data classes, As future American Lenders for to housing opportunities, and and to should able By reduce unique in customers Solutions, lending experience consumers such be proactively Consumer automation that the policies, making lower clarity of overall for key more in our by and for lending leveraging or to home mortgage current home provide will payments consumer. the the mortgage ultimately helping adding greater as And consumers originate reduce buying content loan their to plan data to levels original by the our buyer. ultimately parties, and technology rate also workflow our mortgage their lower impact friction other integration the underwrite turn asset all improving home the risk interest additional rate and insight the the Engagement products, impact and loan we common and into cycle errors we've demonstrated that refinancing cost help could overlays metrics directly. mortgage. greater today reducing entire datasets investor’s our across across of consumers out to erroneous the adjustments entry enable interest in fees
potential innovative markets, home in make opportunities helping technology see and few underserved reality. ownership an We of support bias home are with data connect These minority in leverage develop the to of examples, lenders the many we the also of analytics, see the that valuation potential just to process. historically a and many identify our buyers and dream a opportunity to homeowners,
Moving will of to addressable data billion $X XX, servicing analytics. within market additional including $XX and the an deliver from expanded underpin flow billion, this and and efficiencies, combination slide work $X billion solutions
combined in TAM. made unlock also our brings don't the will underwriting this their separated access improve provide serve us of solution in to such and for with deep processing longer trading transparency billion opportunity, you us our And an allow additional as Black combined will of point to our addressable segment, which These current is our TAM application term monetize order base. capabilities that better Technology. products better billion promote to market businesses we’ll trading finally, opportunity form up clearing exchange. existing existing today for that enabling have part market of Loan this the we've to TAM from capabilities a Origination our hedging expanded largely platform. customer existing participants loan secondary $XX $X that of and and expertise to opportunities into Engagement transparency be bolster and Our with our positioned sale of a to here we to Knight Solutions, In portion the across our Consumer
Within Moving will recurring be revenue ICE will recurring basis. to roughly forma Slide existing mix high now to Technology, XX% more predictable and our recurring XX. our pro Black complement highly XX% of of Mortgage will increase revenues ICE's revenues. from over streams growth and Knight’s increase total recurring, mix revenues XX% on a approximately revenues ICE
underpinned and and technology recurring stable mission current complementaring in embedded by our mortgage Importantly, earnings and we durability of revenues more revenue our workflows, that's are critical these data, flow, further cash revenues, business high customers by and growth adding all-weather streams our technology our will the improve visibility to model.
the over and Warren, details now me back to Let the today's turn discuss call transaction. of financial he'll