NEW YORK, Dec 20 IntercontinentalExchange Inc
on Thursday said it would buy New York Stock Exchange
owner NYSE Euronext for $8.2 billion.
Atlanta-based ICE operates four regulated futures exchanges,
two over-the-counter markets and five clearing houses globally.
Its growth from an 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
The following is a timeline of key events in ICE's history:
Seven leading banks and energy concerns launch an online
electronic market for trading over-the-counter energy, metals
and other commodities. Jeffrey Sprecher, previously president of
Atlanta's Continental Power Exchange, the company that developed
the trading system to be used by ICE, becomes CEO.
ICE acquires London-based International Petroleum Exchange.
ICE launches industry's first cleared over-the-counter
ICE goes public; begins trading on the New York Stock
Exchange. It also transitions to electronic energy futures
ICE launches a West Texas Intermediate (WTI) crude contract,
competing with CME Group's light sweet crude contract and its
ICE completes the acquisition of New York Board of Trade, to
be renamed ICE Futures U.S. It makes an unsuccessful unsolicited
offer for CBOT Holdings Inc, eventually losing out to Chicago
Mercantile Exchange Holdings Inc.
CEO Sprecher says ICE is open to buying out a rival or being
bought out. "You're in a consolidating industry," Sprecher tells
In February, ICE ends open outcry on all futures contracts
formerly traded at NYBOT.
In June, it announces acquisition of credit default swaps
(CDS) processor Creditex, and launches CDS swaps clearing in the
U.S. and Europe.
ICE acquires the Clearing Corporation.
ICE acquires the Climate Exchange.
In October, ICE closes option pits in New York, silencing
142 years of open outcry.
In December, ICE announces an $8.2 billion deal to acquire