[39], In October 2017, ICE announced it had acquired a 4.7% stake in Euroclear for EUR 275 million. As ICEs Chief Regulatory Officer, King oversees the companys global regulatory and government affairs initiatives. Our business is built around the recognition that the needs of our customers should come first. Thats what Sprecher paid to buy the struggling Continental Power Exchange in 1997, in addition to assuming the companys outstanding debt. Prior to IDCG, Edmonds was the Chief Development Officer for ICAP Energy. 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. By providing your email address below, you are providing consent to Intercontinental Exchange to send you the requested Investor Email Alert updates. [31] Completion of the transaction was subject to regulatory approval and other customary closing conditions. Vice President, Associate General Counsel & Corporate Secretary, Chief Audit Executive, Intercontinental Exchange, Board of Directors & Committee Composition. When it was founded, the company's primary focus was on energy products, specifically crude and refined oil, natural gas, power, and emissions. Were in the process of digitizing the entire mortgage process to reduce costs and increase efficiencies every step of the way. The financial impact of the transaction is expected to be immaterial in 2017. It was founded in May 2000 in Atlanta, Georgia. ICE operates exchanges and clearinghouses around the world, provides market-leading solutions in fixed income and data services, and is transforming the mortgage industry by digitizing the end-to-end process of buying a home. Martin also serves on the Manhattan College Board of Trustees as well as the Advisory Board of the School of Science and is a member of the Phi Beta Kappa National Honor Society. Prior to joining ICE in 2009, he served as President of The Clearing Corporation. Prior to joining ICE in 2007, Bland was Legal Counsel to Acting Chairman Walter Lukken at the Commodity Futures Trading Commission. "Clear Credit. In this role, she also oversees the NYSEs Board Advisory Council, which works with the CEOs of NYSE-listed firms to identify diverse candidates for boards of directors of venture-funded and newly public companies. He was also a trial attorney in the Division of Enforcement and an attorney in the Division of Clearing and Intermediary Oversight. Rhodes first joined ICE in 2016, becoming Global Head of Derivatives, responsible for ICEs interest rate and equity derivatives complex. She is responsible for managing ICEs global fixed income and data business, including pricing and analytics, reference data, indices, desktop solutions, consolidated feeds, connectivity services and the ICE Bonds execution venues. "Intercontinental Exchange, Inc. Andrew Surdykowski is General Counsel of Intercontinental Exchange, Inc. (NYSE: ICE). ICE's most recent expansion has continued with the acquisitions of Ellie Mae in 2020 and Black Knight in 2022. Reflecting Sprecher's 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 . Across Asian markets, an acceleration in high frequency trading is driving demand for reliable and competitive latency. By 2010, Intercontinental Exchange had cleared more than $10 trillion in credit default swaps (CDS) through its subsidiaries, ICE Trust CDS (now ICE Clear Credit). ICE Data Services also provides its customers with unique data from global exchanges and fixed income markets. She served in the Executive Office, working alongside the firm's senior management, including the Chairman and CEO, and was Secretary to the Management Committee. Backed by the global resources of Intercontinental Exchange (NYSE:ICE), we're transforming, streamlining, and digitizing the U.S. residential mortgage process, from consumer engagement through loan registration in order to connect our customers to opportunity. At Intercontinental Exchange, we promise to treat your data with respect and will not share your information with any third party. 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. [6][7], Sprecher's first job was at Trane, where he met William Prentice who was developing power plants following deregulation. Upon the closing of the transaction, Creditex Group became a wholly-owned subsidiary of ICE, operating under the Creditex name. 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. His responsibilities included enterprise risk management, corporate insurance and business continuity and planning with respect to ICEs clearing houses, exchanges, data and benchmark services. IHG Hotels & Resorts InterContinental Hotels Group ( IHG ), marketed as IHG Hotels & Resorts, is a British multinational hospitality company headquartered in Windsor, England. [11], Shortly after the company approached Enron to be a client, Enron started its own competing electricity trading platform, which dominated the market. Now in its third decade, the company that Sprecher and his team have built, through organic growth and acquisitions, delivers over $6 billion in annual revenue with market capitalization of over $75 billion. 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. [8], The Energy Policy Act of 1992 passed and deregulation in the electric industry began. 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. A swap is a derivative contract through which two parties exchange financial instruments, such as interest rates, commodities, or foreign exchange. ", Intercontinental Exchange. That single transaction was for US$1.6m worth . Prior to his role as CTO, Kapani served as SVP, Trading Technology. ICEs unique digital networks combine expertise, data and technology, to connect people to opportunity. In this role, she focuses on public company compliance and corporate governance matters. He also leads technology diligence on all of ICEs acquisitions. "2021 Annual Report," Pages 7, 9, 16, 17. 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. in Economics and Spanish from Wellesley College. "2021 Annual Report," Pages 4, 5-8, 19. He previously served at the U.S. Treasury, where he was Counselor to then-Treasury Secretary Jack Lew as well as Acting Assistant Secretary for Financial Stability and Deputy Assistant Secretary for the Office of Capital Markets. In March 2016, ICE agreed to acquire Standard & Poor's Securities Evaluations, Inc. (SPSE) and Credit Market Analysis (CMA), two assets under the S&P Global Market Intelligence business unit from McGraw Hill Financial. History Bass Hotels He also serves on the Commodity Futures Trading Commission Energy and Environmental Markets Advisory Committee. Joanne Rowe is the Corporate Risk Officer for Intercontinental Exchange, Inc. (NYSE: ICE). Enron's market model was to buy from every seller and sell to every buyer. In 2014, ICE spun off Euronext, keeping NYSE and LIFFE, renaming it ICE Futures Europe.[29]. It's first acquisition was the International Petroleum Exchange (IPE), now ICE Futures Europe, in 2001. The new exchange increased price transparency, efficiency, liquidity, and had lower costs than manual trading. Thomas J Catalano is a CFP and Registered Investment Adviser with the state of South Carolina, where he launched his own financial advisory firm in 2018. FINEX was the financial instruments and currency products division of the New York Board of Trade (NYBOT). Approximately 70%-80% of European utility trades flow through its platform. Most recently, Serafini served as President and COO of ICE Clear U.S. Trabue Bland is SVP, Futures Exchanges at Intercontinental Exchange, Inc. (NYSE: ICE) and oversees all of ICEs futures exchanges globally. [28] The boards of directors of both ICE and NYSE Euronext approved the acquisition, which took place in 2013. ICE. Its main products include: The company is split into the following subsidiaries: 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 (NYSE), SuperDerivatives and Interactive Data (IDC).[55]. "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. 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. 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. 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. [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. The stock outperformed . The company, formed with a simple idea and small check, now helps in myriad ways to drive transparency in trading, clearing, capital formation and risk management; it advances technology through its high quality and market leading data and solutions; and now it makes the dream of home ownership easier and less expensive for millions by digitizing the mortgage process. 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. He is a Certified Public Accountant. Additionally, he coordinates the companys marketing and public relations endeavors. [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. He also holds a Master of Science in Financial Mathematics from The University of Chicago, and Masters degrees in Chemical Physics and International Relations from The University of Sofia, Bulgaria. It started with a toaster oven at age six, advanced to a Toyota and, decades later, expanded to global asset exchanges. SuperDerivatives was purchased for $350 million on October 7, 2014. It was founded in May 2000 in Atlanta, Georgia. Weve been transforming markets, products and processes ever since. "[10], Sprecher started Intercontinental Exchange (ICE) in 2000 as an online marketplace for energy trading in Atlanta. Rowes career in financial services began in 2007 where she played a key role as Program Manager of the integration of BNP Paribas and Fortis in the UK. Please visit this URL to In that role, Hindlian worked with entrepreneurs, venture capitalists, private equity firms and investment banks to advise private companies as they move toward an NYSE public listing, whether through traditional IPOs, SPAC combinations or Direct Listings. Edmonds oversees all of ICEs clearing house operations and the global risk management team. His experience at McKenna, Long & Aldridge included representing a broad array of clients in matters dealing with securities, mergers and acquisitions, corporate governance, finance and private equity. [36] The CMA's ruling against ICE was the first time CMA had required that a company sell an asset that it had already bought.[37]. [47], On December 9, 2021, ICE acquired risQ, a geospatial and climate data modeling start-up company, after announcing partnerships with the company to develop climate risk and ESG analytics models for municipal bond markets in January 2020 and mortgage-backed securities markets in March 2021. Warren Gardiner has served as Chief Financial Officer of Intercontinental Exchange, Inc. (NYSE: ICE) since May 2021. Intercontinental Exchange. ICE will pay $335 million to acquire Simplifile, which is based in Provo, Utah and has no debt. from the University of Pennsylvania, and an A.B. [42], In May 2018, ICE announced that it had entered into an agreement to acquire TMC Bonds LLC for $685 million in cash. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. These include white papers, government data, original reporting, and interviews with industry experts. [4] It is listed on the London Stock Exchange and the New York Stock Exchange. He also serves on the Commodity Futures Trading Commission Global Markets Advisory Committee (GMAC). McClear holds a Juris Doctorate degree from Northwestern University School of Law and a Bachelor of Arts degree in Political Science from Denison University. ICE provides transparent markets to invest, manage risk and raise capital across major asset classes. Bakkt . In October 2016 it had completed its all-cash acquisition. Prior to joining ICE in 2007, Ilkiw opened and managed the Asia Pacific office of the New York Mercantile Exchange and helped to develop Singapore as a commodity derivatives trading center in her role with the Monetary Authority of Singapore. Senior Vice President, HR & Administration. He previously served as Senior Vice President, Associate General Counsel and Assistant Corporate Secretary. Nasdaq was valued at $5.78 billion, while ICE was valued at $9.45 billion. 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. [5] Sprecher received a bachelor's degree in chemical engineering from the University of WisconsinMadison in 1978 and a Master of Business Administration from Pepperdine University in 1984. 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 [using] clearing services from the Kansas City Board of Trade. 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. Business data for Intercontinental Exchange, Inc.: This page was last edited on 7 June 2023, at 22:39. He previously served as Chief Risk Officer at ICE Clear Credit and ICE Trust US. We were the first to digitize exchanges, and we continue to lead the way on price transparency, capital raising, ESG indexing, risk mitigation and more. [21][22], During the COVID-19 pandemic, Sprecher and his wife donated $1 million to the Phoebe Foundation's COVID-19 Relief Fund of the Phoebe Putney Health System for personal protective equipment for Phoebe care team members.[23]. [22] On April 1, ICE and Nasdaq made an $11.3 billion offer which was rejected April 10 by NYSE. Ivanov was instrumental to the launch of the CDS clearing services at ICE Trust US and ICE Clear Europe in 2009. This includes ICE futures exchanges in the United States, Canada and Europe, the Liffe futures exchanges in Europe, the New York Stock Exchange, equity options exchanges and OTC energy, credit and equity markets. [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. Stuart Williams is Chief Operating Officer at Intercontinental Exchange, Inc. (NYSE: ICE). It started with an entrepreneurs dream and $1,000. Investopedia does not include all offers available in the marketplace. Spencer joined ICE in April 2014. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. Hindlian held a number of other positions during her nearly twenty-year career at Goldman Sachs. ", FIA. I find it very interesting to . The transaction completed on December 14, 2015. ICE became a publicly traded company on November 16, 2005, and was added to the Russell 1000 Index on June 30, 2006. ", "IntercontinentalExchange, Inc. - Board of Directors", "ICE's Jeffrey Sprecher: The Sultan of Swaps", "9 Fun Facts About the NYSE's New Boss: The newest big shot in the New York financial world is a guy from Atlanta who studied chemical engineering and loves go-cart", "Doug Moe: No more anonymity for Jeff Sprecher after NYSE purchase", "For the New York Stock Exchange, a sell order", "Bakkt wants to put your rewards, points, Bitcoin, and even stocks all in one new digital wallet", "Sen. Kelly Loeffler Dumped Millions in Stock After Coronavirus Briefing", "Senator Richard Burr Sold a Fortune in Stocks as G.O.P. Sprecher became Chair of the NYSE following ICEs acquisition, overseeing a complete overhaul of the Exchange, serving in that role for eight years through 2021. McLaughlin provides regular updates on ESG initiatives to ICEs Nominating & Governance Committee and Board of Directors. Intercontinental Exchange. Rowe is responsible for oversight of the Companys Enterprise Risk Management program including ICEs clearing houses, exchanges, data and benchmark services. Doug Foley is Senior Vice President of HR & Administration at Intercontinental Exchange, Inc. (NYSE: ICE). Jackson oversees ICEs global technology, information security, operations and is responsible for coordinating global futures and OTC trading businesses. Investopedia requires writers to use primary sources to support their work. Intercontinental Exchange ( ICE 0.44%) is one of the leading global operators of financial exchanges. McClear oversees all regulatory, technology, operations and financial functions at the clearing house, which maintains offices in New York and Chicago. [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. Lynn Martin is President of NYSE Group, a wholly-owned subsidiary of Intercontinental Exchange, Inc. (NYSE: ICE). 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. Rhodes has more than 14 years trading experience in the derivatives markets, including as a founding partner and senior trader at Arc Derivatives. Since then the company has expanded including the following acquisitions: In 2018, Intercontinental Exchange formed Bakkt, a pioneering marketplace in digital currency futures. In January 2021, the company announced that Bakkts being absorbed into a special purpose acquisition company (SPAC) sponsored by Chicago investment fund Victory Park Capital. Sprecher was quoted in Fortune that the lofty costs of processing payments by credit card [are] one of the prime targets for disruption in financial services. Before joining the U.S. Treasury, Bowler held positions in capital markets and risk management at Goldman Sachs and JPMorgan. He served on the staff of Senator Thad Cochran before attending law school. We saw this evolution and consistently we advanced our capabilities, building a data business which is complementary to every part of our solution. Marti Tirinnanzi. Before joining the Commission, Bland was in private practice at Balch and Bingham, LLP. Similarly, Sprechers launch of Bakkt in 2018 foresaw expanded adoption of bitcoin and digital assets. She also oversees internal communications and employee learning and development programs. 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. 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. Selling data is a big business for financial exchange operators. 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. As of the time of the speculation, "NYSE Euronext's market value was $9.75 billion. Who Owns Intercontinental Exchange, Inc. (ICE) Intercontinental Exchange, Inc. (ICE) is a publicly traded company, which means it is owned by its shareholders. [16], On March 20, 2020, also reported by CNBC in the same article referenced above, Intercontinental Exchange said in a statement that the nearly 30 transactions involving the couple were in compliance with company policies. 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. Discover how investors profit from the commodity market. Bid", "Nasdaq May Ask CME or ICE for Help in NYSE Counterbid, WSJ Says", "Nasdaq and ICE sweeten the pot for NYSE", "Nasdaq, ICE withdraw bid for NYSE after DOJ talks", "Mergers: Commission blocks proposed merger between Deutsche Brse and NYSE Euronext", "NYSE Euronext merger with Deutsche Boerse blocked by EU", "IntercontinentalExchange to buy NYSE for $8.2B", "For the New York Stock Exchange, a sell order", "IntercontinentalExchange's SuperDerivatives Acquisition To Boost Market Data Business", "ICE to buy market data firm Interactive Data in $5.2 billion deal", "Intercontinental Exchange completes acquisition of Interactive Data Corporation", "UK court upholds ICE Trayport sale order", "CMA final decision on ICE/Trayport agreement - GOV.UK", "Canada's TMX buys ICE's Trayport energy trading platform", "ICE to sell commodities trading platform Trayport for 550m", "ICE to acquire fixed income indices from BAML", "Intercontinental Exchange ups stake in Euroclear | City A.M.", "Intercontinental Exchange completes acquisition of Virtu BondPoint; expands fixed income market solutions", "NYSE Agrees to Acquire 136-Year-Old Chicago Stock Exchange", "Intercontinental Exchange Agrees to Acquire TMC Bonds", "ICE makes mortgage play with Simplifile acquisition", "NYSE-owner ICE to buy Ellie Mae in $11 billion deal", "With $11B Ellie Mae deal finalized, ICE prepares to unleash a "fully digital mortgage ecosystem", "ICE Expands Climate Change and Alternative Data Capabilities With Acquisitions of risQ and Level 11 Analytics", "Why big financial firms are scooping up climate modeling companies", "The Startups Predicting Climate Risk for Bond Investors", "risQ and Intercontinental Exchange Announce Collaboration to Bring Climate Risk Analytics to the Municipal Bond Ecosystem", "risQ and Level 11 Analytics Launch Climate and ESG Analytics for Mortgage-Backed Securities", "ICE exchange expands in mortgage tech with $13bn deal for Black Knight", "FTC seeks temporary halt to Intercontinental Exchange deal for Black Knight", "Intercontinental Exchange Launches Expanded ICE Data Services", "The Global Oil Scam: 50 Times Bigger than Madoff", Open outcry trading at CME Group fading into obscurity, Indonesia Commodity and Derivatives Exchange, https://en.wikipedia.org/w/index.php?title=Intercontinental_Exchange&oldid=1159051959, Financial services companies established in 2000, Financial services companies of the United States, Companies listed on the New York Stock Exchange, Pages with non-numeric formatnum arguments, Articles with dead external links from November 2017, Articles with permanently dead external links, Short description is different from Wikidata, Articles containing potentially dated statements from December 2022, All articles containing potentially dated statements, Wikipedia articles containing buzzwords from June 2022, Pages using Sister project links with hidden wikidata, Official website different in Wikidata and Wikipedia, Creative Commons Attribution-ShareAlike License 4.0, ICE Futures Europe - one of the world's largest energy.
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