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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. Listed on the
Fortune 500 The ''Fortune'' 500 is an annual list compiled and published by ''Fortune (magazine), Fortune'' magazine that ranks 500 of the largest United States Joint-stock company#Closely held corporations and publicly traded corporations, corporations by ...
,
S&P 500 The Standard and Poor's 500, or simply the S&P 500, is a stock market index tracking the stock performance of 500 large companies listed on stock exchanges in the United States. It is one of the most commonly followed equity indices. As of D ...
, and Russell 1000, the company owns exchanges for
financial Finance is the study and discipline of money, currency and capital assets. It is related to, but not synonymous with economics, the study of Production (economics), production, Distribution (economics), distribution, and Consumption (economics) ...
and
commodity In economics Economics () is the social science that studies the Production (economics), production, distribution (economics), distribution, and Consumption (economics), consumption of goods and services. Economics focuses on the beh ...
markets, and operates 12 regulated exchanges and marketplaces. This includes ICE
futures exchange A futures exchange or futures market is a central financial exchange where people can trade standardized futures contract In finance Finance is the study and discipline of money, currency and capital assets. It is related to, but not syno ...
s in the United States, Canada and Europe, the Liffe futures exchanges in Europe, the
New York Stock Exchange The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District of Lower Manhattan in New York City New York, often called New York City or NYC, is the List o ...
, equity options exchanges and OTC energy, credit and equity markets. ICE also owns and operates six central clearing houses: ICE Clear U.S., ICE Clear Europe, ICE Clear Singapore, ICE Clear Credit, ICE Clear Netherlands and ICE NGX. ICE has offices in
Atlanta Atlanta ( ) is the capital and most populous city of the U.S. state of Georgia. It is the seat of Fulton County, the most populous county in Georgia, but its territory falls in both Fulton and DeKalb counties. With a population of 498, ...
, New York,
London London is the capital and List of urban areas in the United Kingdom, largest city of England and the United Kingdom, with a population of just under 9 million. It stands on the River Thames in south-east England at the head of a estuary dow ...
,
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,
Bedford Bedford is a market town in Bedfordshire, England. At the 2011 Census, the population of the Bedford built-up area (including Biddenham and Kempston) was 106,940, making it the second-largest settlement in Bedfordshire, behind Luton, whilst th ...
,
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,
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,
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,
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, Washington, D.C.,
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,
Tel Aviv Tel Aviv-Yafo ( he, תֵּל־אָבִיב-יָפוֹ, translit=Tēl-ʾĀvīv-Yāfō ; ar, تَلّ أَبِيب – يَافَا, translit=Tall ʾAbīb-Yāfā, links=no), often referred to as just Tel Aviv, is the most populous city in the G ...
,
Rome , established_title = Founded , established_date = 753 BC , founder = King Romulus (Romulus and Remus, legendary) , image_map = Map of comune of Rome (metropolitan city of Capital Rome, region Lazio, Italy).svg ...
,
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,
Singapore Singapore (), officially the Republic of Singapore, is a sovereign island country, island country and city-state in maritime Southeast Asia. It lies about one degree of latitude () north of the equator, off the southern tip of the Malay Pen ...
and
Melbourne Melbourne ( ; Boonwurrung language, Boonwurrung/Woiwurrung–Taungurung language, Woiwurrung: ''Narrm'' or ''Naarm'') is the List of Australian capital cities, capital and List of cities in Australia by population, most populous city of the St ...
.


History

Jeffrey Sprecher was a power plant developer who spotted a need for a seamless market in natural gas used to fuel power stations."Atlanta-based ICE operates four regulated futures exchanges, two over-the-counter markets and five clearing houses globally. Its growth from a small energy exchange since the early 2000s has been influential in the evolution of the derivatives markets since then, paralleling the rise of commodities as a mainstream asset class, the consolidation of the exchange industry, the disappearance of the floor trader with the move to all-electronic trading platforms and the growth of swaps clearing." 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. In May 2000, ICE was founded by Sprecher and backed by
Goldman Sachs Goldman Sachs () is an American multinational Investment banking, investment bank and financial services company. Founded in 1869, Goldman Sachs is headquartered at 200 West Street in Lower Manhattan, with regional headquarters in London, Wars ...
,
Morgan Stanley Morgan Stanley is an American multinational investment management and financial services company headquartered at 1585 Broadway in Midtown Manhattan, New York City. With offices in more than 41 countries and more than 75,000 employees, the fir ...
, BP, Total,
Shell Shell may refer to: Architecture and design * Shell (structure), a thin structure ** Concrete shell, a thin shell of concrete, usually with no interior columns or exterior buttresses ** Thin-shell structure Science Biology * Seashell, a hard out ...
,
Deutsche Bank Deutsche Bank AG (), sometimes referred to simply as Deutsche, is a German multinational Investment banking, investment bank and financial services company headquartered in Frankfurt, Frankfurt, Germany, and dual-listed on the Frankfurt Stock ...
and Société Générale. The new exchange increased price transparency, efficiency,
liquidity Liquidity is a concept in economics involving the convertibility of assets and obligations. It can include: * Market liquidity, the ease with which an asset can be sold * Accounting liquidity, the ability to meet cash obligations when due * Liqui ...
, and had lower costs than manual trading. While the company's original focus was energy products (crude and refined
oil An oil is any nonpolar In chemistry, polarity is a separation of electric charge leading to a molecule or its chemical groups having an electric dipole moment, with a negatively charged end and a positively charged end. Polar molecules m ...
,
natural gas Natural gas (also called fossil gas or simply gas) is a naturally occurring mixture of gaseous hydrocarbons consisting primarily of methane in addition to various smaller amounts of other higher alkanes. Low levels of trace gases like carbon di ...
, power, and emissions), acquisitions subsequently expanded its activity into soft commodities (
sugar Sugar is the generic name for Sweetness, sweet-tasting, soluble carbohydrates, many of which are used in food. Simple sugars, also called monosaccharides, include glucose, fructose, and galactose. Compound sugars, also called disaccharides o ...
,
cotton Cotton is a soft, fluffy Staple (textiles), staple fiber that grows in a wikt:boll, boll, or protective case, around the seeds of the cotton plants of the genus ''Gossypium'' in the mallow family Malvaceae. The fiber is almost pure cellulose ...
and
coffee Coffee is a drink prepared from roasted coffee beans. Darkly colored, bitter, and slightly acidic, coffee has a stimulant, stimulating effect on humans, primarily due to its caffeine content. It is the most popular hot drink in the world. S ...
),
foreign exchange The foreign exchange market (Forex, FX, or currency market) is a global decentralized or over-the-counter (OTC) market for the trading of currencies. This market determines foreign exchange rates for every currency. It includes all as ...
and equity index futures. 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 swap A credit default swap (CDS) is a Swap (finance), financial swap agreement that the seller of the CDS will compensate the buyer in the event of a debt Default (finance), default (by the debtor) or other credit event. That is, the seller of the ...
s. Sprecher worked closely with the
Federal Reserve The Federal Reserve System (often shortened to the Federal Reserve, or simply the Fed) is the central banking system of the United States of America. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, after a ...
to serve as its over-the-counter (OTC) derivatives clearing house. "US regulators were keen on the kind of clearing house for opaque over-the-counter (OTC) derivatives as a risk management device. In the absence of a central counterparty – which would guarantee pay-outs should a trading party be unable to do so – there was a high risk of massive market disruption." The principal backers for ICE US Trust were the same financial institutions most affected by the crisis, the top nine of the world's largest banks (Goldman Sachs, Bank of America, Citi, Credit Suisse, Deutsche Bank, JPMorgan, Merrill Lynch, Morgan Stanley and UBS). Sprecher's clearing house cleared their global
credit default swap A credit default swap (CDS) is a Swap (finance), financial swap agreement that the seller of the CDS will compensate the buyer in the event of a debt Default (finance), default (by the debtor) or other credit event. That is, the seller of the ...
s (CDS) in exchange for sharing profits with these banks. By September 30, 2008, the ''
Financial Post The ''Financial Post'' was an English Canada, Canadian business newspaper, which published from 1907 to 1998. In 1998, the publication was folded into the new ''National Post'',"Black says Post to merge with new paper". ''The Globe and Mail'', J ...
'' warned that the "$54000bn credit derivatives market faced its biggest test in October 2008 as billions of dollars worth of contracts on now-defaulted derivatives would be auctioned by the
International Swaps and Derivatives Association International is an adjective (also used as a noun) meaning "between nations". International may also refer to: Music Albums * International (Kevin Michael album), ''International'' (Kevin Michael album), 2011 * International (New Order album), ' ...
. In his article in the ''
Financial Post The ''Financial Post'' was an English Canada, Canadian business newspaper, which published from 1907 to 1998. In 1998, the publication was folded into the new ''National Post'',"Black says Post to merge with new paper". ''The Globe and Mail'', J ...
'', he described ICE as a "US-based electronic futures exchange" which raised the stakes on October 30, 2008, in its effort to expand in the $54000 bn credit derivatives market. By 2010, Intercontinental Exchange had cleared more than $10 trillion in
credit default swap A credit default swap (CDS) is a Swap (finance), financial swap agreement that the seller of the CDS will compensate the buyer in the event of a debt Default (finance), default (by the debtor) or other credit event. That is, the seller of the ...
s (CDS) through its subsidiaries, ICE Trust CDS (now ICE Clear Credit). By 2017 Intercontinental Exchange had been named to the Fortune Future 50 determining the top 50 companies that are best positioned to adapt and deliver growth in a complex environment. ICE was also named to the
Fortune 500 The ''Fortune'' 500 is an annual list compiled and published by ''Fortune (magazine), Fortune'' magazine that ranks 500 of the largest United States Joint-stock company#Closely held corporations and publicly traded corporations, corporations by ...
in June 2017 as the only exchange operator included in the ranking. On September 6, 2019, ''
Bloomberg Bloomberg may refer to: People * Daniel J. Bloomberg (1905–1984), audio engineer * Georgina Bloomberg (born 1983), professional equestrian * Michael Bloomberg (born 1942), American businessman and founder of Bloomberg L.P.; politician and ma ...
'' reported that ICE was growing closer to offering
Bitcoin Bitcoin ( abbreviation: BTC; sign: ₿) is a decentralized digital currency that can be transferred on the peer-to-peer bitcoin network. Bitcoin transactions are verified by network nodes through cryptography and recorded in a public dist ...
futures trading, as "its Bakkt unit opens its digital-asset custody warehouse today to customers." On September 23, 2019, Bitcoin will be able to be acquired.


Mergers and acquisitions

Intercontinental Exchange has had a policy to grow through the acquisition of other exchanges, a number of these have been successful while others have failed due to concerns by regulators or others that the new company would have created a monopoly situation. The major acquisition and attempted acquisitions have included:


2001: International Petroleum Exchange (IPE)

In June 2001, ICE expanded its business into futures trading by acquiring the London-based International Petroleum Exchange (IPE), now ICE Futures Europe, which operated Europe's leading open-outcry energy futures exchange. 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.


2007: New York Board of Trade (NYBOT)

ICE became a publicly traded company on November 16, 2005, and was added to the Russell 1000 Index on June 30, 2006. The company expanded rapidly in 2007, acquiring the New York Board of Trade (NYBOT), and ChemConnect (a chemical commodity market).


2007: Chicago Board of Trade - (unsuccessful bid)

In March 2007 ICE made an unsuccessful $9.9 billion bid for the
Chicago Board of Trade The Chicago Board of Trade (CBOT), established on April 3, 1848, is one of the world's oldest futures exchange, futures and options exchanges. On July 12, 2007, the CBOT merged with the Chicago Mercantile Exchange (CME) to form CME Group. CBOT and ...
, which was instead acquired by the
CME Group CME Group Inc. (Chicago Mercantile Exchange, Chicago Board of Trade, New York Mercantile Exchange, The Commodity Exchange) is an American global markets company. It is the world's largest financial derivatives exchange, and trades in asset class ...
.


2007: Winnipeg Commodity Exchange (WCE)

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. The Winnipeg Commodity Exchange (WCE) was renamed ICE Futures Canada as of January 1, 2008. In 2004, the Winnipeg Commodity Exchange had "closed its open-outcry trading floor" becoming "the first North American agricultural futures exchange to trade exclusively on an electronic platform" by trading via the "Chicago Board of Trade's electronic platform, and singclearing services from the Kansas City Board of Trade. IntercontinentalExchange converted Winnipeg Commodity Exchange contracts to the IntercontinentalExchange platform. IntercontinentalExchange maintained an office and "small core staff" in Winnipeg, Manitoba. The Manitoba Securities Commission oversee its operations.


2008: Creditex

In June 2008, ICE announced that it had entered into a definitive merger agreement to acquire Creditex Group Inc. (Creditex). The transaction consideration totaled $625 million comprising approximately $565 million in ICE common stock and $60 million in cash, as well as a working capital adjustment to be finalized at closing. Upon the closing of the transaction, Creditex Group became a wholly-owned subsidiary of ICE, operating under the Creditex name.


2008: TSX Group's Natural Gas Exchange Partnership

In January 2008, ICE partnered with Canada's TSX Group's Natural Gas Exchange, expanding their offering to clearing and settlement services for physical OTC natural gas contracts.


2010: Climate Exchange

In April 2010, ICE acquired Climate Exchange PLC for 395 million pounds ($622 million) and European Climate Exchange (ECX) as part of its purchase. Exchange-traded emissions products were first offered by the European Climate Exchange (ECX), which was established in 2005, by listing products on the ICE Futures Europe's trading platform. ICE Futures Europe is the leading market for carbon dioxide () emissions. ICE's ECX products comply with the requirements of the
European Union Emission Trading Scheme The European Union Emissions Trading System (EU ETS) is a "cap and trade" scheme where a limit is placed on the right to emit specified pollutants over an area and companies can trade emission rights within that area. It covers around 45% of th ...
.


2013: NYSE Euronext

In February 2011, in the wake of an announced merger of NYSE Euronext with Deutsche Börse, speculation developed that ICE and Nasdaq could mount a counter-bid of their own for NYSE Euronext. ICE was thought to be looking to acquire the American exchange's derivatives business, Nasdaq its cash equities business. As of the time of the speculation, "NYSE Euronext’s market value was $9.75 billion. Nasdaq was valued at $5.78 billion, while ICE was valued at $9.45 billion." Late in the month, Nasdaq was reported to be considering asking either ICE or the
Chicago Mercantile Exchange The Chicago Mercantile Exchange (CME) (often called "the Chicago Merc", or "the Merc") is a global derivatives marketplace based in Chicago and located at 20 S. Wacker Drive. The CME was founded in 1898 as the Chicago Butter and Egg Board, an a ...
(CME) to join in what would probably be an $11–12 billion counterbid for NYSE. On April 1, ICE and Nasdaq made an $11.3 billion offer which was rejected April 10 by NYSE. Another week later, ICE and Nasdaq sweetened their offer, including a $.17 increase per share to $42.67 and a $350 million breakup fee if the deal were to encounter regulatory trouble. 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. 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 May, saying it "became clear that we would not be successful in securing regulatory approval," the Nasdaq and ICE withdrew their bid. The
European Commission The European Commission (EC) is the Executive (government), executive of the European Union (EU). It operates as a cabinet government, with 27 European Commissioner, members of the Commission (informally known as "Commissioners") headed by a P ...
then blocked the Deutsche merger on February 1, 2012, citing the fact that the merged company would have a near monopoly. In December 2012, ICE announced it would buy NYSE Euronext (this time without the involvement of Nasdaq) for $8.2 billion, pending regulatory approval. Jeffrey Sprecher will retain his position as chairman and CEO. The boards of directors of both ICE and NYSE Euronext approved the acquisition, which took place in 2013. In 2014, ICE spun off Euronext, keeping NYSE and LIFFE, renaming it ICE Futures Europe.


2014: SuperDerivatives Inc.

In September 2014, ICE announced that it had agreed to acquire SuperDerivatives, a provider of risk management analytics, financial market data and valuation services. SuperDerivatives was purchased for $350 million on October 7, 2014.


2015: Interactive Data Corporation (IDC)

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. 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. Completion of the transaction was subject to regulatory approval and other customary closing conditions. The transaction completed on December 14, 2015.


2015: Trayport and subsequent divestment

In December 2015, ICE acquired Trayport for $650 million from
GFI Group GFI Group Inc. (GFI) through its subsidiaries provides brokerage services, trade execution, market data, trading platforms and other software products. Clients are institutional customers in markets for a range of fixed income, financial, Equity ( ...
. Trayport provides a trading technology platform that serves brokers, exchanges, clearing houses and trading participants, primarily in the European utility markets. Approximately 70%-80% of European utility trades flow through its platform. Following the acquisition, the
Competition and Markets Authority The Competition and Markets Authority (CMA) is the competition regulator in United Kingdom. It is a non-ministerial government department in the United Kingdom, responsible for strengthening business competition and preventing and reducing anti-com ...
(CMA) called in the merger for review. 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. ICE challenged the decision in the Competition Appeal Tribunal (CAT), but the CAT upheld the CMA's decision. As a result, ICE sold Trayport to TMX Group in October 2017, in exchange for certain TMX Group assets and cash of £350 million. The CMA's ruling against ICE was the first time CMA had required that a company sell an asset that it had already bought.


2016: Standard & Poor’s Securities Evaluations (SPSE)

In March 2016, ICE agreed to acquire
Standard & Poor's S&P Global Ratings (previously Standard & Poor's and informally known as S&P) is an American credit rating agency (CRA) and a division of S&P Global that publishes financial research and analysis on capital stock, stocks, Bond (finance), bonds, ...
Securities Evaluations, Inc. (SPSE) and Credit Market Analysis (CMA), two assets under the
S&P Global S&P Global Inc. (prior to April 2016 McGraw Hill Financial, Inc., and prior to 2013 The McGraw–Hill Companies, Inc.) is an American Public company, publicly traded corporation headquartered in Manhattan, New York City. Its primary areas of busi ...
Market Intelligence business unit from McGraw Hill Financial. Most terms of the agreement were not disclosed. In October 2016 it had completed its all-cash acquisition.


2017: TMX Atrium

In February 2017, ICE announced it had entered an agreement to acquire TMX Atrium, an extranet and wireless services business from TMX Group. Terms of the agreement were not disclosed, and the transaction is expected to close within 90 days, subject to regulatory approvals. The financial impact of the transaction will be immaterial and was included in ICE's financial guidance for 2017.


2017: BofA Merrill Lynch Global Research Index Platform (BofAML)

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 BofA Securities, Inc., previously Bank of America Merrill Lynch (BAML), is an American multinational investment bank Investment is the dedication of money to purchase of an asset to attain an increase in value over a period of time. Inve ...
. 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. Upon closing, the indices will be re-branded as the ICE BofAML indices. The terms of the agreement were not disclosed, and the transaction is expected to be completed in the second half of 2017. The financial impact of the transaction is expected to be immaterial in 2017. In October 2017 ICE announced it has completed its acquisition. 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.


2017: Euroclear

In October 2017, ICE announced it had acquired a 4.7% stake in Euroclear for EUR 275 million. ICE anticipates having one representative join the Board of Euroclear. Euroclear is a leading provider of post-trade services, including settlement, central securities depositories and related services for cross-border transactions across asset classes. It is understood ICE increased its stake to 10% in early 2018.


2017: Virtu BondPoint

In October 2017, ICE announced it had entered into an agreement to acquire Virtu BondPoint from
Virtu Financial Virtu Financial is an American company that provides financial services, trading products and market maker, market making services. Virtu provides product suite including offerings in execution, liquidity sourcing, analytics and broker-neutral, m ...
for $400 million in cash. The acquisition was reportedly completed on January 2, 2018, as announced by ICE. BondPoint is an integrated, automated platform offering additional fixed income execution services and one of the broadest sets of fixed income instruments.


2018: Chicago Stock Exchange (CHX)

In April 2018, ICE announced that it had entered into an agreement to acquire the
Chicago Stock Exchange NYSE Chicago, formerly known as the Chicago Stock Exchange (CHX), is a stock exchange in Chicago, Illinois, US. The exchange is a national securities exchange and self-regulatory organization, which operates under the oversight of the U.S. Secu ...
(CHX), a full-service stock exchange, including trading, data and corporate listings services. The transaction is expected to close in the second quarter of 2018, subject to regulatory approvals. Terms of the transaction were not disclosed, and the financial impact will not be material to ICE or impact capital return plans.


2018: TMC Bonds LLC

In May 2018, ICE announced that it had entered into an agreement to acquire TMC Bonds LLC for $685 million in cash. 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. The transaction is expected to close in the second half of 2018, subject to customary regulatory and anti-trust approvals, and is not expected to materially impact 2018 financial results or capital returns.


2018: Merscorp Holding, Inc

In October 2018, ICE announced that it had acquired the remaining equity of Merscorp Holding, Inc., owner of Mortgage Electronic Registration Systems, Inc. (MERS). Merscorp owns and operates the MERS System, a national electronic registry that tracks the changes in servicing rights and beneficial ownership interests in U.S.-based mortgage loans. ICE had owned a majority equity interest in MERS since 2016. 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. The price and terms of the transaction were not disclosed and will not be material to ICE's earnings or have an impact on capital return plans.


2019: Simplifile, LC

In May 2019, ICE announced that it had agreed to acquire Simplifile, LC. Simplifile operates a network connecting agents and jurisdictions involved with residential mortgage records. ICE will pay $335 million to acquire Simplifile, which is based in
Provo, Utah Provo ( ) is the List of cities and towns in Utah, fourth-largest city in Utah, United States. It is south of Salt Lake City along the Wasatch Front. Provo is the largest city and county seat of Utah County, Utah, Utah County and is home to Bri ...
and has no debt. The transaction is expected to close in the third quarter of 2019. Upon closing, Simplifile, which has approximately 200 employees, will continue to be based in Provo and operate under the Simplifile name.


2020: Ellie Mae

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. The transaction with Ellie Mae, a portfolio company of Thoma Bravo, a leading private equity investment firm, valued Ellie Mae at approximately $11 billion. The deal, following ICE's taking a majority stake in MERS in 2016, purchasing the remainder in 2018, and acquiring Simplifile in 2019, made ICE and its growing ICE Mortgage Technology a leading provider of end-to-end electronic workflow solutions for the U.S. residential mortgage industry. The transaction completed successfully in September 2020 after regulatory approval.


2021: risQ

On December 9, 2021, ICE acquired risQ, a
geospatial Geographic data and information is defined in the ISO/TC 211 series of standards as data and information having an implicit or explicit association with a location relative to Earth (a geographic location or geographic position). It is also call ...
and climate data modeling start-up company, after announcing partnerships with the company to develop
climate risk Climate risk refers to risk assessments based on formal analysis of the consequences, likelihoods and responses to the impacts of climate change and how societal constraints shape adaptation options. Common approaches to risk assessment and risk ...
and ESG analytics models for
municipal bond A municipal bond, commonly known as a muni, is a bond issued by state or local governments, or entities they create such as authorities and special districts. In the United States, interest income received by holders of municipal bonds is often, ...
markets in January 2020 and mortgage-backed securities markets in March 2021.


2022: Black Knight

In May 2022, ICE announced that it had entered into a definitive agreement to acquire Black Knight, Inc., a software, data and analytics company that serves the housing finance continuum. The cash and stock transaction values Black Knight at $85 per share, or a market value of $13.1 billion. The transaction is expected to close in the first half of 2023, following the receipt of regulatory approvals, Black Knight stockholder approval, and the satisfaction of customary closing conditions.


Operations

ICE provides exchange trading and clearing services in a number of different markets. Its main products include: * Exchange traded futures and options ** Agriculture ** Financials ** Crude Oil and Refined ** Electricity ** Natural Gas/Liquids ** UK Natural Gas ** Other * Over-the-counter instruments (ICE OTC) ** Crude Oil and Refined ** Natural Gas ** Electricity The company is split into the following subsidiaries: * Markets ** ICE Futures U.S. ** ICE Futures Europe - one of the world's largest energy futures and options exchanges ** ICE Futures Singapore ** ICE Endex ** ICE OTC Energy ** ICE Swap Trade & Creditex ** ICE Bonds * Clearing ** ICE Clear U.S. ** ICE Clear Europe ** ICE NGX ** ICE Clear Singapore ** ICE Clear Netherlands ** ICE Clear Credit


ICE Data Services

In June 2016 Intercontinental Exchange introduced the expanded ICE Data Services, which combined exchange data, valuations, analytics, and other software used by the
New York Stock Exchange The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District of Lower Manhattan in New York City New York, often called New York City or NYC, is the List o ...
(NYSE), SuperDerivatives and Interactive Data (IDC).ICE Press Release (June 27, 2016)
Exchange Launches Expanded ICE Data Services"
/ref> ICE originally formed its ICE Data subsidiary in 2003, recognizing the rising demand for exchange data as markets became increasingly automated. 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. Their customers include global financial institutions, asset managers, commercial hedging firms, risk managers, corporate issuers and individual investors. ICE Data Services has offices in
California California is a U.S. state, state in the Western United States, located along the West Coast of the United States, Pacific Coast. With nearly 39.2million residents across a total area of approximately , it is the List of states and territori ...
, New York,
Chicago (''City in a Garden''); I Will , image_map = , map_caption = Interactive Map of Chicago , coordinates = , coordinates_footnotes = , subdivision_type = List of sovereign states, Count ...
, Bedford MA,
London London is the capital and List of urban areas in the United Kingdom, largest city of England and the United Kingdom, with a population of just under 9 million. It stands on the River Thames in south-east England at the head of a estuary dow ...
,
Rome , established_title = Founded , established_date = 753 BC , founder = King Romulus (Romulus and Remus, legendary) , image_map = Map of comune of Rome (metropolitan city of Capital Rome, region Lazio, Italy).svg ...
,
Dublin Dublin (; , or ) is the capital and largest city of Republic of Ireland, Ireland. On a bay at the mouth of the River Liffey, it is in the Provinces of Ireland, province of Leinster, bordered on the south by the Dublin Mountains, a part of th ...
,
Tel Aviv Tel Aviv-Yafo ( he, תֵּל־אָבִיב-יָפוֹ, translit=Tēl-ʾĀvīv-Yāfō ; ar, تَلّ أَبِيب – يَافَا, translit=Tall ʾAbīb-Yāfā, links=no), often referred to as just Tel Aviv, is the most populous city in the G ...
,
Hong Kong Hong Kong ( (US) or (UK); , ), officially the Hong Kong Special Administrative Region of the People's Republic of China (abbr. Hong Kong SAR or HKSAR), is a List of cities in China, city and Special administrative regions of China, special ...
, Singapore,
Tokyo Tokyo (; ja, 東京, , ), officially the Tokyo Metropolis ( ja, 東京都, label=none, ), is the capital and List of cities in Japan, largest city of Japan. Formerly known as Edo, its metropolitan area () is the most populous in the world, ...
,
Hyderabad Hyderabad ( ; , ) is the capital and largest city of the Indian state of Telangana Telangana (; , ) is a States and union territories of India, state in India situated on the south-central stretch of the Indian subcontinent, Indian pen ...
and
Melbourne Melbourne ( ; Boonwurrung language, Boonwurrung/Woiwurrung–Taungurung language, Woiwurrung: ''Narrm'' or ''Naarm'') is the List of Australian capital cities, capital and List of cities in Australia by population, most populous city of the St ...
.


See also

*
List of futures exchanges This is a list of notable futures exchanges. Those stock exchange A stock exchange, securities exchange, or bourse is an Exchange (organized market), exchange where stockbrokers and stock trader, traders can buy and sell security ...
* Securities market participants (United States)


References

; Bundled references


External links

* * * * * * {{DEFAULTSORT:Intercontinental Exchange Financial services companies established in 2000 Financial services companies of the United States Companies listed on the New York Stock Exchange Energy companies of the United States Companies based in Atlanta Commodity exchanges in the United States Energy exchanges Economy of London Petroleum economics Futures exchanges American companies established in 2000 2005 initial public offerings