commodities trading platform.
2100 RiverEdge Parkway
Atlanta, GA 30328
CEO: Jeffrey Sprecher
Stock Symbol: ICE
IntercontinentalExchange operates regulated global futures exchanges and over-the-counter (OTC) markets for agricultural, energy, equity index and currency contracts, as well as credit derivatives. ICE offers these markets to participants around the world through its technology infrastructure and trading platform, together with clearing, market data and risk management services.
ICE conducts its energy futures markets through ICE Futures Europe, its U.K. regulated London-based subsidiary, which offers the world's leading oil benchmarks and trades nearly half of the world's global crude futures in its markets. ICE conducts its soft commodity, foreign exchange and index markets through its U.S. regulated subsidiary, ICE Futures U.S, which provides global futures and options markets, as well as clearing services through ICE Clear U.S., its wholly owned clearing house. Creditex, a market leader in trade execution and processing for credit derivatives, is also a wholly-owned subsidiary of ICE. ICE's state-of-the-art electronic trading platform brings market access and transparency to participants in more than 50 countries.
The company's market participants include:
· Risk Managers
· Futures Commission Merchants (FCMs)
· Portfolio Managers
ICE is based in Atlanta, GA with offices
in Calgary, Chicago, Houston, London, New York and Singapore.
In 2009, the company reported revenues of $995 million, a 22% increase, and net income of $314.1 million.
In the late 1990s, Jeffrey Sprecher, ICE's
founder, chairman, and Chief Executive Officer, acquired Continental
Power Exchange, Inc. with the objective of developing a platform
to provide a more transparent and efficient market structure
for OTC energy commodity trading. Mr. Sprecher realized that
the electronic revolution in the international financial markets
provided a great opportunity to bring the benefits of an electronic
marketplace to energy trading.
In May 2000, IntercontinentalExchange was
established, with its founding shareholders representing some
of the world's largest energy traders. The company's mission
was to transform OTC trading by providing an open, accessible,
multi-dealer, around-the-clock electronic energy exchange. The
exchange was built and offered the trading community better price
transparency, more efficiency, greater liquidity and lower costs
than manual trading.
In June of 2001, ICE expanded its business
into futures trading by acquiring the International Petroleum
Exchange (IPE), now ICE Futures, 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
marketplace. In April of 2005, the entire ICE portfolio of energy
futures became fully electronic.
Updated April 7, 2010