Intercontinental Exchange, the owner of the New York Stock Exchange, has leased about 193,053 sq ft across nine floors of Tower S3 at Magarpatta Cybercity in Pune. The nine year deal, which came to light in February 2026, gives the company a large new base for its India capability centre.
ICE runs exchanges, clearing houses, data services and mortgage technology from its headquarters in Atlanta. It posted net revenues of about $9.9 billion for 2025, up 7% and its twentieth straight year of record revenue. Exchanges brought in about $5.4 billion of that, fixed income and data services about $2.4 billion, and mortgage technology about $2.1 billion.
What the centre will do
The space will be used for product engineering, technology services and back end operations that support ICE platforms worldwide. Rent starts at Rs 90 per sq ft a month, or about Rs 1.73 crore, with a 15% increase every three years. The company paid a security deposit of about Rs 10.42 crore. ICE has not said how many people the new floors will house.
Why Pune
Pune is where ICE’s India story began. The mortgage software business now called ICE Mortgage Technology, formerly Ellie Mae, has run an engineering and operations centre in the city since the early 2000s. Magarpatta Cybercity in Hadapsar is one of the city’s oldest integrated tech parks and gives ICE room to grow alongside a large, established talent base.
Intercontinental Exchange’s India footprint
Before this deal, the Pune team numbered about 1,100 people on a 98,000 sq ft campus that serves mortgage technology clients and has become a centre for machine learning and AI work on that platform. ICE opened a second India hub in Hyderabad in November 2019, starting with about 500 staff. By 2022 its India centres employed more than 2,000 engineers, technologists, operations and data specialists, and the company was hiring hundreds more each year.
What it signals
A long lease of this size shows ICE moving its India work beyond mortgage support and into engineering for its wider exchange and data businesses. It also fits a broader shift in Pune, where global financial infrastructure firms are taking larger, longer commitments in mature tech parks rather than small satellite offices.
At a glance
- Home country: United States
- Sector: Banking and Financial Services
- City: Pune
- Date: February 2026
- Status: Expansion of an existing centre
- Scale: About 193,053 sq ft across nine floors on a nine year lease
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