Intercontinental Exchange

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Intercontinental Exchange, Inc.

logo
legal form Incorporated
ISIN US45866F1049
founding May 11, 2000
Seat Atlanta , Georgia , United States
management Jeffrey C. Spokesman
( Chairman and CEO )
Number of employees 2,902
sales 4,221,000,000 US dollars (2014)
Branch Exchanges
Website www.theice.com
As of December 31, 2014

The Intercontinental Currency Exchange ( ICE ), or Intercontinental Exchange for short, is a stock exchange operator based in Atlanta , USA , which specializes in the electronic trading of options and futures on electricity, energy and agricultural commodities, and emissions .

Electronic marketplace

The following exchanges belong to the Intercontinental Exchange:

Electronic trading of options and futures on electrical energy, crude oil, natural gas and emissions of sulfur oxides (SO x ) and nitrogen oxides (NO x ) takes place at ICE Futures in London . The exchange is a trading platform for Europe's leading oil type Brent . The National Balancing Point (NBP), a virtual trading point on ICE Futures, is the benchmark for the price of gas in Great Britain.

Another business area is the trading of options and futures on agricultural commodities. Cotton, coffee, cocoa, orange juice and sugar are listed on the ICE Futures US in New York . In contrast, ICE Futures Canada in Winnipeg mainly trades feed wheat, oats, barley, linseed, rapeseed (canola) and rye. Futures on the stock indices Russell 1000 and Russell 2000 , on various commodity indices ( CRB index , Continuous Commodity Index ) and the US dollar index , which compares the value of the US dollar using a currency basket of six currencies , are listed on ICE Futures US .

Electronic trading on the Intercontinental Exchange begins on Sunday at 5:30 p.m. Eastern Standard Time (EST), Eastern US Standard Time (11:30 p.m. CET) and ends on Friday at 6:30 p.m. EST (0:30 a.m. CET) .

history

In 1997 Jeffrey C. Sprecher, ICE founder and managing director, acquired the "Continental Power Exchange (CPEX)" with the aim of developing an internet-based platform for providing a more transparent and efficient market for over-the -counter (OTC) trading in energy resources. On May 11, 2000, some of the world's largest energy traders founded the "Intercontinental Exchange (ICE)".

In June 2001, ICE expanded its futures trading business with the acquisition of the “International Petroleum Exchange (IPE)” in London . The IPE is the largest futures exchange for options and futures on oil, natural gas and electrical energy in Europe. In 2003, the ICE agreed a partnership with the Chicago Climate Exchange (CCX), a voluntary trading system in which 350 mostly large companies, universities and associations have committed to lowering their joint greenhouse emissions.

On April 7, 2005, all commodity futures transactions of the IPE were transferred to an electronic trading platform, the activity of which has since been monitored by the Financial Services Authority (FSA), the British financial supervisory authority. The renaming of the International Petroleum Exchange to ICE Futures came into effect on October 26, 2005. ICE has been listed on the New York Stock Exchange since November 16, 2005 . On June 16, 2006, the company was added to the Russell 1000 stock index .

On September 14, 2006, ICE announced the takeover of the New York Board of Trade (NYBOT). The offer included a cash payment of $ 400 million and the transfer of 10.297 million ICE shares. The offer valued NYBOT at around $ 1 billion. The purchase was completed on January 12, 2007. On September 3, 2007, the exchange was named ICE Futures US

In July 2007 the company expanded with the acquisition of "ChemConnect", a trading platform for liquefied gas and chemicals, and in September 2007 with the acquisition of the "Winnipeg Commodity Exchange (WCE)". Futures on agricultural commodities are listed on the Canadian Grain Exchange, founded in 1887. On January 1, 2008, WCE was renamed ICE Futures Canada .

On March 28, 2007, ICE entered into a partnership with the Natural Gas Exchange (NGX), a Canadian exchange for trading and clearing natural gas and electricity contracts. In October 2007, the acquisition of "Chatham Energy", a broker specializing in over-the-counter energy options, and in January 2008 the acquisition of "YellowJacket", an electronic trading platform for over-the-counter trading in energy options. In August 2008, the acquisition of “Creditex”, a provider of electronic conversion services in the credit derivatives market, was complete.

In October 2008 , an agreement was signed with The Clearing Corporation (TCC) , a US clearing service provider, to further develop the joint global clearing solution for so-called credit default swaps (CDS). In the course of this, TCC is taken over and then the ICE US Trust (ICE Trust) is formed. On March 6, 2009, ICE successfully completed the acquisition of The Clearing Corporation (TCC) and, following positive approval by the US regulatory authorities, was the first provider worldwide to successfully clear CDS contracts on the following Monday, March 9, 2009 start.

On December 20, 2012, the Intercontinental Exchange announced the purchase of NYSE Euronext for $ 8.2 billion. That's a price of $ 33.12 per share. The commodity exchange paid for the takeover from a combination of cash and existing loans. The transaction was completed on November 13, 2013.

Web links

Individual evidence

  1. ↑ a b U.S. Securities and Exchange Commission: FORM 10-K - Intercontinental Exchange, Inc. - ICE . Annual report 2014 from February 5, 2015 (PDF; 1.51 MB). Retrieved January 27, 2019
  2. ↑ Intercontinental Exchange: IPE Name Change (PDF; 166 kB), October 26, 2005. Accessed January 27, 2019
  3. ↑ a b Wirtschaftswoche: ICE buys Nybot: US futures exchanges go together , September 19, 2006. Retrieved January 27, 2019
  4. ↑ US Securities and Exchange Commission: Intercontinental Exchange - Completion of Acquisition or Disposition of Assets , January 12, 2007. Retrieved January 27, 2019
  5. ↑ Chuck Kowalski: The Basics of Investing in Commodities - Major Futures Exchanges in the US . In: thebalance.com of May 5, 2017. Retrieved January 27, 2019.
  6. ↑ TSX Group: NGX, ICE Form North American Technology and Physical Clearing Alliance (PDF; 46 kB), March 28, 2007. Accessed January 27, 2019
  7. ↑ Intercontinental Exchange: A History of Transparent Markets ( Memento June 6, 2011 in the Internet Archive )
  8. ↑ Intercontinental Exchange: CDS (Credit Default Swap) Clearing - Clearing the Way For European Credit Markets . Retrieved January 27, 2019
  9. ↑ Udo Rettberg: Clearing - More security with credit derivatives . In: Handelsblatt of July 27, 2009. Retrieved January 27, 2019.
  10. ↑ NYSE Euronext: Intercontinental Exchange to Acquire NYSE Euronext For $ 33.12 Per Share in Stock and Cash, Creating Premier Global Market Operator ( Memento of December 23, 2012 in the Internet Archive ). Retrieved January 27, 2019
  11. ^ Intercontinental Exchange: Intercontinentalexchange completes acquisition of NYSE Euronext. November 13, 2013, accessed January 27, 2019 .