who owns the intercontinental exchangewho owns the intercontinental exchange

The Intercontinental Exchange (ICE) is an American company that owns and operates financial and commodity marketplaces and exchanges. [17] IntercontinentalExchange maintained an office and "small core staff" in Winnipeg, Manitoba. ICE became a publicly traded company on November 16, 2005, and was added to the Russell 1000 Index on June 30, 2006. At Goldman Sachs, she was also a member of the firm-wide and equities risk committees as well as the global compliance and control committee. Kapani was recognized by Institutional Investor in the Trading Technology 40, an industry ranking of the leading technology executives in the financial markets, in 2016, 2017 and 2018. [24] The European Commission then blocked the Deutsche merger on February 1, 2012, citing the fact that the merged company would have a near monopoly.[25][26]. Before joining ICE in 2006, Kapani was Vice President of Options Development at the Philadelphia Stock Exchange, where he focused on the development of several initiatives including the transition of trading from a floor-based model to a high performance electronic platform. Established in 2000, TMC Bonds is a fixed income marketplace, supporting anonymous trading in various asset classes including Municipals, Corporates, Treasuries, Agencies and Certificates of Deposit. What Is the Intercontinental Exchange (ICE)? The International Petroleum Exchange (IPE) was a London-based exchange for futures and options on several energy-related commodities. The acquisition was reportedly completed on January 2, 2018, as announced by ICE. ", Intercontinental Exchange. [38], In February 2017, ICE announced that it had entered into a definitive agreement to acquire the Global Research division's index platform from Bank of America Merrill Lynch. Net Insider Buy/Sell (L12M) Ownership Be the first to know when ICE insiders and whales buy or sell their stock. She is a Chartered Internal Auditor and holds professional qualifications of the Institute of Internal Auditors of the UK. ICE also operates six central clearing houses: ICE Clear Europe, ICE Clear U.S., ICE Clear Credit, ICE Clear Netherlands, ICE Clear Singapore, and ICE NGX. "[8][9], In 1996 he bought the Continental Power Exchange in Atlanta from MidAmerican Energy Holdings Company for $1 plus the assumption of debt, which became the foundation for Intercontinental Exchange (ICE). could play a central role in wrestling down costs. [13], On March 19, 2020, the public release of federal financial-disclosure documents revealed that Sprecher and his wife, interim U.S. The two said the offer was a $2 billion (21%) premium over the Deutsche offer and that they had fully committed financing of $3.8 billion from lenders to finance the deal. In May 2019, ICE announced that it had agreed to acquire Simplifile, LC. Most recently, she was President of Fixed Income & Data Services and earlier served as President of ICE Data Services, COO of ICE Clear U.S., and in a number of leadership roles including CEO of NYSE Liffe U.S. and CEO of New York Portfolio Clearing. In May, saying it "became clear that we would not be successful in securing regulatory approval," the Nasdaq and ICE withdrew their bid. According to ICE's Q1 2022 report, ICE had cleared more than $16.4 trillion in credit default swaps, up YOY by 9.7%. Weve been transforming markets, products and processes ever since. After submitting your request, you will receive an activation email to the requested email address. [17] IntercontinentalExchange converted Winnipeg Commodity Exchange contracts to the IntercontinentalExchange platform. The Intercontinental Exchange (ICE) is an American company that owns and operates financial and commodity marketplaces and exchanges. The CBOT vs. the CME: What's the Difference? In a response to US financial crisis in 2008, Sprecher formed ICE US Trust, based in New York and now called ICE Clear Credit LLC, to serve as a limited-purpose bank, a clearing house for credit default swaps. The Commodity Exchange Act regulates commodities and futures trading in the U.S. Jennifer Ilkiw is President of ICE Futures U.S., a regulated futures exchange and a subsidiary of Intercontinental Exchange, Inc. (NYSE: ICE). [23], The Justice Department, also in April, "initiated an antitrust review of the proposal, which would have brought nearly all U.S. stock listings under a merged Nasdaq-NYSE." In February 2017, ICE announced it had entered an agreement to acquire TMX Atrium, an extranet and wireless services business from TMX Group. Surdykowski joined ICE in September 2005. In October 2015, ICE announced that it had entered into a definitive agreement to acquire Interactive Data Corporation (IDC), a provider of financial market data, analytics, from Silver Lake, involved in technology investing, and Warburg Pincus, a private equity firm focused on growth investing. We also reference original research from other reputable publishers where appropriate. [6][7], Sprecher's first job was at Trane, where he met William Prentice who was developing power plants following deregulation. . Spencer holds a Juris Doctor from the Duke University School of Law and a Bachelor of Arts degree from the University of North Carolina at Chapel Hill. Also known as ICE, this Atlanta-based company owns exchanges for financial and commodity markets, including the New York Stock Exchange. Furthermore, in August 2019, it announced it had entered into an agreement to acquire a family of fixed income volatility indices, including the prominent Merrill Lynch Option Volatility Estimate (MOVE) family of indices. Since joining ICE, Kapani assumed technology responsibility for all ICE futures and options exchange platforms, ICE Trade Vault, ICE Benchmark Administration and ICE Data Derivatives. ICE had owned a majority equity interest in MERS since 2016. The company operates the New . McClear oversees all regulatory, technology, operations and financial functions at the clearing house, which maintains offices in New York and Chicago. Timothy J. Bowler is President of ICE Mortgage Technology, the leading digital mortgage technology platform and a wholly-owned subsidiary of Intercontinental Exchange, Inc. (ICE: NYSE). Sprecher, 66, serves as CEO of Intercontinental Exchange, the firm that owns the New York Stock Exchange. Warren Gardiner has served as Chief Financial Officer of Intercontinental Exchange, Inc. (NYSE: ICE) since May 2021. It started with an entrepreneurs dream and $1,000. [45], In August 2020, ICE announced that it had entered into a definitive agreement to acquire Ellie Mae, a cloud-based platform provider for the mortgage finance industry. ICE's ECX products comply with the requirements of the European Union Emission Trading Scheme. Elizabeth King is President, Sustainable Finance, ICEs product initiative around sustainable investing. This was the stock's third consecutive day of gains. If you experience any issues with this process, please contact us for further assistance. ATLANTA & NEW YORK -- (BUSINESS WIRE)-- Intercontinental Exchange, Inc. (NYSE:ICE), a leading operator of global exchanges and clearing houses and provider of data and listings services, announced it has acquired the remaining equity of MERSCORP Holding, Inc., owner of Mortgage Electronic Registrations Systems, Inc. (MERS). Tirelessly enlisting major banks, energy companies, and utilities to his cause, Intercontinental Exchange was born, eventually going public on the New York Stock Exchange in 2005 under the ticker symbol ICE. "2021 Annual Report," Pages 4, 5-8, 19. Mr. 1 of 9 ICE insiders have sold more. [46] The transaction completed successfully in September 2020 after regulatory approval. From Wikipedia, the free encyclopedia Intercontinental Exchange, Inc. ( ICE) is an American company formed in 2000 that operates global financial exchanges and clearing houses and provides mortgage technology, data and listing services. ICE originally formed its ICE Data subsidiary in 2003, recognizing the rising demand for exchange data as markets became increasingly automated. Previously, Rhodes served as Chief Operating Officer of ICE Clear Europe. As of the time of the speculation, "NYSE Euronext's market value was $9.75 billion. It owns the Mortgage. He is responsible for the day-to-day operations and support of the global infrastructure, data centers, networks and corporate IT systems that support ICE and its subsidiaries. Prior to joining ICE in 2008, Foley worked in the Performance & Reward practice at Ernst & Young LLP in Atlanta. At Intercontinental Exchange, we promise to treat your data with respect and will not share your information with any third party. In May 2000, ICE was founded by Jeffrey C. Sprecher,a power plant developer who wanted to create a more transparent and efficient platform for over-the-counter (OTC) energy commodity trading. Reflecting Sprechers vision and leadership, ICE, co-headquartered in Atlanta and New York, has grown from a startup in in 2000, purely focused on making energy trading transparent, to a diversified, subscription-driven Fortune 500 company with nearly 10,000 employees. Most terms of the agreement were not disclosed. subscribe to Premium to read more. History Bass Hotels The acquisition was valued at approximately $5.2 billion, including $3.65 billion in cash and $1.55 billion in ICE common stock, and builds on ICE's global market data growth strategy by expanding the markets served, adding technology platforms and increasing new data and valuation services. ICE also offers trading and . "ICE Credit Derivative Services," Page 4, Intercontinental Exchange. In October 2017, ICE announced it had entered into an agreement to acquire Virtu BondPoint from Virtu Financial for $400 million in cash. Deborah Sue Mayer, the Ethics Committee's chief counsel and staff director, wrote in the letter that the panel examined stock transactions made by both Loeffler and her husband Jeffrey Sprecher, chairman of the New York Stock Exchange. ICE continues to invest in its data services to address evolving customer needs driven by regulatory reform, market fragmentation, passive investing and indexation, along with increased demand for data capacity and security, and independent valuations. Intercontinental Exchange Inc shares closed today at 0.1% below its 52 week high of $113.15, giving the company a market cap of $62B.The stock is currently up 10.3% year-to-date, up 18.3% over the . Rhodes has more than 14 years trading experience in the derivatives markets, including as a founding partner and senior trader at Arc Derivatives. Senior Vice President, HR & Administration. Ivanov was instrumental to the launch of the CDS clearing services at ICE Trust US and ICE Clear Europe in 2009. CPEX's hardware and server architecture [were] capable of supporting foreseeable changes that may be necessary when the client load arrives. LIFFE is a London, England-based futures and options exchange now known as ICE Futures Europe. Transact with precision. Jeff Sprecher is Founder, Chair and CEO of Intercontinental Exchange, Inc. (NYSE: ICE) and a pioneer of digital networks and the electronification of trading and marketplaces. Upon closing, the indices will be re-branded as the ICE BofAML indices. Hindlian held a number of other positions during her nearly twenty-year career at Goldman Sachs. These include white papers, government data, original reporting, and interviews with industry experts. Most recently, Bowler was President of ICE Benchmark Administration, administrators of robust regulatory and governance frameworks with advanced technology to bring credibility and trust to globally important benchmarks. Prior to that, he was an equity research analyst at Barclays. NYSE Group includes the New York Stock Exchange, the worlds largest stock market and premier venue for capital raising, as well as four fully electronic equity markets and two options exchanges. "US regulators were keen on the kind of clearing house for opaque over-the-counter (OTC) derivatives as a risk management device. "Intercontinental Exchange to Acquire Standard & Poors Securities Evaluations, Inc. and Credit Market Analysis from McGraw Hill Financial. Intercontinental Exchange. Find the latest InterContinental Hotels Group PLC (IHG) stock quote, history, news and other vital information to help you with your stock trading and investing. King holds a J.D. Business data for Intercontinental Exchange, Inc.: This page was last edited on 7 June 2023, at 22:39. Jackson oversees ICEs global technology, information security, operations and is responsible for coordinating global futures and OTC trading businesses. When you visit the site, Dotdash Meredith and its partners may store or retrieve information on your browser, mostly in the form of cookies. [43], In October 2018, ICE announced that it had acquired the remaining equity of Merscorp Holding, Inc., owner of Mortgage Electronic Registration Systems, Inc. (MERS). Intercontinental Exchange. Marti Tirinnanzi. [2] In the late 1990s, Sprecher acquired Continental Power Exchange, Inc. with the objective of developing an Internet-based platform to provide a more transparent and efficient market structure for over-the-counter energy commodity trading. Surdykowski oversees ICEs legal affairs globally, including public company compliance, corporate governance matters and serving as ICEs key legal advisor. "Intercontinental Exchange Enters into Definitive Agreement to Acquire Black Knight. Foley holds a Bachelor of Science in Mathematics and a Master of Science in Risk Management & Insurance both from Georgia State University. Listed on the Fortune 500, S&P 500, and Russell 1000, the company owns exchanges for financial and commodity markets, and operates 12 regulated exchanges and marketplaces. Several more acquisitions occurred the next ten years: NYSE Euronext in 2013, Interactive Data Corporation (IDC) in 2015, Standard & Poor's Securities Evaluations, Inc.in 2016, Virtu BondPoint in 2017, Chicago Stock Exchange (CHX) in 2018, and Simplifile, LC in 2019. Terms of the transaction were not disclosed, and the financial impact will not be material to ICE or impact capital return plans. Our markets are supported by advanced data and analytics and built on sophisticated execution technology. NYSE Euronext, Inc. was a transatlantic multinational financial services corporation that operated multiple securities exchanges, including the New York Stock Exchange, Euronext and NYSE Arca (formerly known as ArcaEx). As of July 2022, the company has a market capitalization of $53.88 billion. . [5] It is also a constituent of the FTSE 100 Index . Intercontinental Exchange is not owned by hedge funds. His sisters are the filmmakers Karen and Jill Sprecher. NYSE Group includes the New York Stock Exchange, the world's largest stock market and premier venue for capital raising, as well as four fully electronic equity markets and two options exchanges. In response to the 200708 Financial Crisis, Sprecher formed ICE Clear Credit, which would serve as a clearing house for credit default swaps, over-the-counter (OTC) derivatives, and provide crucial risk management services for the market. Since 2003, ICE has partnered with the Chicago Climate Exchange (CCX) to host its electronic marketplaces. In April 2005, the entire ICE portfolio of energy futures became fully electronic and ICE closed International Petroleum Exchange's high profile and historic trading floor.[4]. Featuring unparalleled quality and market-leading data, our end-to-end solutions create exceptional insights that drive decision-making. The financial impact of the transaction will be immaterial and was included in ICE's financial guidance for 2017. Continental [intended] to stay at least one step ahead of the marketplace. VIEW CORPORATE OVERVIEW READ OUR ANNUAL REPORT. Prior to his role as CTO, Kapani served as SVP, Trading Technology. In June 2016, ICE launched a new suite of data services and software, called ICE Data Services. Martin is also Chair of Fixed Income & Data Services at ICE, which includes ICE Bonds execution venues, securities pricing and analytics, reference data, indices, desktop solutions, consolidated feeds and connectivity services that cover all major asset classes. Earlier this month, ICE successfully moved the MERS System infrastructure to the ICE Mahwah data center, an integral requirement for completing the final acquisition of the business. He is responsible for all aspects of ICEs finance and accounting functions, treasury, tax, audit and controls and investor relations. Find the latest Intercontinental Exchange, Inc. (ICE) stock quote, history, news and other vital information to help you with your stock trading and investing. In March 2009, ICE Clear Credit was created and approved by the Federal Reserve as a bank and two years later, was designated as a clearing house and regulated by the CFTC and SEC. Finance. Additionally, he leads the integration planning and execution of ICEs acquisitions and joint ventures and serves as the Chair of ICE Mortgage Technology. ICE. When Enron's exchange collapsed in 2001 in the Enron scandal, ICE's business exploded.[7][8]. The BofAML indices are the second most used fixed income indices by assets under management (AUM) globally, and upon closing, the AUM benchmarked against the combined fixed income index business of ICE will be nearly $1 trillion. Bland holds a law degree from the University of Mississippi School of Law and earned a Bachelor of Arts degree in Economics from Washington and Lee University. While the company's original focus was energy products (crude and refined oil, natural gas, power, and emissions), acquisitions subsequently expanded its activity into soft commodities (sugar, cotton and coffee), foreign exchange and equity index futures. Get Free ICE Updates ICE Shareholders What type of owners hold Intercontinental Exchange Inc stock? Now, ICE is expanding our global network footprint in Asia. Prior to joining ICE in February 2010, Edmonds was Chief Executive Officer of the International Derivatives Exchange Group (IDCG) a clearing house for interest rate swaps. An interview series with Jeff Sprecher, Founder, Chairman & CEO, Intercontinental Exchange. (ICE).". We saw this evolution and consistently we advanced our capabilities, building a data business which is complementary to every part of our solution. [14], IntercontinentalExchange Inc., the "upstart Atlanta-based energy bourse" purchased the privately held 120-year-old Winnipeg Commodity Exchange, known for its canola futures contract, for $40 million. review a list of supported browsers. The new exchange increased price transparency, efficiency, liquidity, and had lower costs than manual trading. A swap is a derivative contract through which two parties exchange financial instruments, such as interest rates, commodities, or foreign exchange. The Intercontinental Exchange (ICE) is an American company that owns and operates financial and commodity marketplaces and exchanges. Our business is built around the recognition that the needs of our customers should come first. Played Down Coronavirus Threat", "Sen. Loeffler, NYSE owner CEO husband defend stock sales after her coronavirus briefing", "Senate Ethics Committee drops probe of Loeffler stock trades", "ICE communications head Kelly Loeffler to step down at year's end", "Phoebe Foundation Receives $1 Million Donation", https://en.wikipedia.org/w/index.php?title=Jeffrey_Sprecher&oldid=1150675815, University of WisconsinMadison College of Engineering alumni, Creative Commons Attribution-ShareAlike License 4.0, In November 2013, ICE announced its acquisition of Singapore Mercantile Exchange, This page was last edited on 19 April 2023, at 13:58. Chris Edmonds is the Chief Development Officer at Intercontinental Exchange, Inc. (NYSE: ICE). The Founder, Jeffrey Sprecher, made the biggest insider sale in the last 12 months. Upon the closing of the transaction, Creditex Group became a wholly-owned subsidiary of ICE, operating under the Creditex name. Most recently, Serafini served as President and COO of ICE Clear U.S. On September 6, 2019, Bloomberg reported that ICE was growing closer to offering Bitcoin futures trading, as "its Bakkt unit opens its digital-asset custody warehouse today to customers." Additionally, he coordinates the companys marketing and public relations endeavors. [3][4], In May 2000, ICE was founded by Sprecher and backed by Goldman Sachs, Morgan Stanley, BP, Total, Shell, Deutsche Bank and Socit Gnrale.[5][6]. Understanding the Intercontinental Exchange (ICE), London International Financial Futures and Options Exchange (LIFFE), Commodity Market: Definition, Types, Example, and How It Works, Our History, An Interview with Jeff Sprecher; Part 1: How ICE Began, Our History, An Interview with Jeff Sprecher; Part 2: ICE's Expansion into Clearing, ICE Clear Credit Regulation and Governance Fact Sheet, Winnipeg Commodity Exchange to Become ICE Futures Canada, Intercontinental Exchange to Acquire Standard & Poors Securities Evaluations, Inc. and Credit Market Analysis from McGraw Hill Financial, Intercontinental Exchange Finalizes Acquisition of Chicago Stock Exchange, Intercontinental Exchange Enters into Definitive Agreement to Acquire Black Knight, Intercontinental Exchange Launches Expanded ICE Data Services, Global Futures and Options Trading Hits Another Record in 2021. [41] BondPoint is an integrated, automated platform offering additional fixed income execution services and one of the broadest sets of fixed income instruments. [39], In October 2017, ICE announced it had acquired a 4.7% stake in Euroclear for EUR 275 million. These days, amid the energy transition, that trait is underscored by his anticipation years ago of the globalization of natural gas and demand for carbon-offset trading. The sales began the same day Loeffler and other senators received a private briefing from federal officials about the looming crisis. He previously served as Global Head of Clearing & Risk and SVP of Financial Markets, where he oversaw the development of initiatives within ICEs exchanged listed and OTC financial markets, and President of ICE Clear Credit, ICEs credit default swap (CDS) clearing house. Prior to joining ICE as a result of the acquisition of LIFFE by ICE in 2013, Williams spent 10 years consulting with Protiviti and Accenture, working on a broad range of initiatives with exchanges, clearing houses and other financial sector clients. It is this consistent and strategic approach that has propelled our expansion from a small technology network serving the U.S. power industry just over two decades ago, into a global enterprise that operates networks across the major asset classes. [14] The documents also showed that the couple purchased stock in Citrix Systems, a company that would potentially benefit from the increase in remote work due to the stay-at-home orders issued to mitigate the COVID-19 pandemic. Investopedia requires writers to use primary sources to support their work. Company profile page for Intercontinental Exchange Inc including stock price, company news, press releases, executives, board members, and contact information [14] At least some of the stocks that Loeffler sold were owned jointly with Sprecher and would have required his knowledge and authorization to sell, documents show. Prior to joining ICE in 2007, Bland was Legal Counsel to Acting Chairman Walter Lukken at the Commodity Futures Trading Commission. Stuart Williams is Chief Operating Officer at Intercontinental Exchange, Inc. (NYSE: ICE). Underwood began his career in public accounting at Ernst & Young, LLP serving primarily real estate and manufacturing clients in Birmingham, Alabama. In reality, seeing around corners is a theme woven throughout Sprechers more than 20 years of creating, leading, and growing ICE. [22] On April 1, ICE and Nasdaq made an $11.3 billion offer which was rejected April 10 by NYSE. In October 2017 ICE announced it has completed its acquisition. Edmonds earned a Bachelor of Arts degree in Political Science from the University of Alabama at Birmingham. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. SuperDerivatives was purchased for $350 million on October 7, 2014. As ICEs Chief Regulatory Officer, King oversees the companys global regulatory and government affairs initiatives. Rowe is responsible for oversight of the Companys Enterprise Risk Management program including ICEs clearing houses, exchanges, data and benchmark services. Rhodes first joined ICE in 2016, becoming Global Head of Derivatives, responsible for ICEs interest rate and equity derivatives complex. Underwood joined ICE in April 2007 when the Internal Audit department officially launched. In addition to holding various legal positions in the financial services industry, McClear traded futures and futures options early in his career. You can sign up for additional alert options at any time. Before joining the U.S. Treasury, Bowler held positions in capital markets and risk management at Goldman Sachs and JPMorgan. Intercontinental Exchange. Investopedia does not include all offers available in the marketplace. In 2014, ICE spun off Euronext, keeping NYSE and LIFFE, renaming it ICE Futures Europe.[29]. Sprecher began on a shoestring by spotting inefficiencies in the power market and resolving to fix them. [35] As a result, ICE sold Trayport to TMX Group in October 2017, in exchange for certain TMX Group assets and cash of 350 million. "2021 Annual Report," Page 4. It's a post that provided him with a massive amount of equity in the companyhis stock . Gardiner earned a Bachelor of Arts in Managerial Economics from Union College and is a CFA Charterholder. For that, and for delivering to ICE shareholders a consistent compound annual growth rate of 17% over the span of 2006 to 2021, Sprecher has been hailed as one of Barrons Worlds Best CEOs for six consecutive years, among a host of other honors and awards for his leadership and philanthropy. Similarly, Sprechers launch of Bakkt in 2018 foresaw expanded adoption of bitcoin and digital assets. In October 2016 it announced its decision to require ICE to sell Trayport, having ruled that the merger could lead to a substantial lessening of competition. "Investor FAQs," Select "When was ICEs initial public offering on the NYSE? [53] In April 2023, the Federal Trade Commission petitioned a federal court to issue a preliminary injunction to halt the acquisition.[54]. ICE was thought to be looking to acquire the American exchange's derivatives business, Nasdaq its cash equities business.