Key Developments: Intercontinental Exchange Inc (ICE)
24 Oct 2014
Latest Key Developments (Source: Significant Developments)
Intercontinental Exchange Inc:Announces acquisition of SuperDerivatives.Says acquisition closed on Oct. 7 in an all-cash transaction of about $350 mln.Says company was advised by Greenberg Traurig P.A. SuperDerivatives was advised by Barclays and White & Case LLP. Full Article
Intercontinental Exchange Inc:Completed its previously announced transaction with ULLINK for the combined sale of NYFIX and Metabit, both units of NYSE Technologies.Transaction closed on Sept. 19 and terms were not disclosed.Evercore acted as financial advisor and Shearman & Sterling LLP acted as legal advisor to Intercontinental Exchange on this transaction. Full Article
Intercontinental Exchange Inc:Has agreed to make a strategic investment in the Holland Clearing House, a continental European clearing house, to support its comprehensive clearing strategy for financial products.ABN Amro Clearing will retain a minority interest in the venture. Full Article
Intercontinental Exchange Inc Announces launch of 30 new energy contracts at ICE Futures Europe and ICE Futures U.S.
Intercontinental Exchange Inc:Says introduction of 30 new energy futures and option contracts on Sept. 22, subject to completion of necessary regulatory and governance processes.New contracts, which will be available for trading at either ICE Futures Europe or ICE Futures U.S. and cleared at ICE Clear Europe include: crude oil and refined products, North American and UK natural gas, US power, natural gas liquids (NGL), and wet freight futures and option contracts. Full Article
Intercontinental Exchange Inc:Announced that it has entered into definitive agreement to acquire SuperDerivatives, provider of risk management analytics, financial market data and valuation services.Acquisition will accelerate expansion of ICE's comprehensive multi-asset class clearing strategy. Full Article
Intercontinental Exchange Inc:Acquired intellectual property rights that relate to computerized trading strategies.Acquired intellectual property rights include U.S. Patent Numbers 7,177,833; 7,251,629; 8,498,923; 8,478,687; 8,660,940; 8,732,048; 8,725,621 and various related pending U.S. Patent Applications. Terms of the transaction were not disclosed.Acquired intellectual property rights include patent claims covering the use of an automated trading system to make price and trading decisions based on market price information.Intellectual property rights cover multiple asset classes traded electronically on exchanges, including futures, options and cash equities. Full Article
Intercontinental Exchange Inc:Declared quarterly cash dividend of $0.65 per share for Q3 of 2014 with record date of Sept. 16 and payment date of Sept. 30.Says ex-dividend date is Sept. 12. Full Article
Intercontinental Exchange Inc:Completes previously announced transaction with SR Labs for sale of Wombat Financial Software, a unit of NYSE Technologies.Transaction closed on July 23 and terms were not disclosed. Full Article
Intercontinental Exchange Inc:ICE Endex has agreed with GasTerra, the international natural gas Dutch trading firm, to continue facilitation of gas storage auction services in the Netherlands.ICE Endex has successfully operated auctions for virtual gas storage services since 2011, and hosts auctions twice year in November and February.Natural gas from the virtual gas storage service is delivered at the Title Transfer Facility. Full Article
Intercontinental Exchange Inc:Closes initial public offering (IPO) of ordinary shares of Euronext N.V pan-European exchange group.ICE, through wholly-owned subsidiary, sold 42,248,881 ordinary shares of Euronext in IPO at 20 euro per share.Says 23,352,000 ordinary shares of Euronext to group of European institutional investors that will replace ICE as reference shareholders at 19.20 euro per share and 188,296 ordinary shares of Euronext to eligible Euronext employees at 16 euro per share.ICE has granted underwriters an over-allotment option of up to 4,210,823 ordinary shares of Euronext, which can be exercised for 30 days after the first trade date.ICE may continue to hold up to 4,210,823 of 70,000,000 total issued and outstanding ordinary shares of Euronext if over-allotment option is not exercised in full.Any shares that are continued to be held by ICE will be subject to a 180-day lockup period.If the over-allotment is exercised in full, the IPO and reference shareholder transaction will represent 100 pct of the total issued ordinary share capital of Euronext.Upon the settlement of the IPO transaction, ICE will receive about 1.4 bln euro in cash proceeds, including net cash from Euronext as part of separation of business, and excluding the over-allotment option of 4.2 mln shares.Says net of the share price discounts offered to employees and reference shareholder group, as well as ICE`s estimated transaction fees. Full Article
NEW YORK - A year after Goldman Sachs bungled a software upgrade and lost tens of millions of dollars from unintended trades, the 12 U.S. stock options exchanges have crafted new rules for dealing with erroneous transactions, according to draft documents seen by Reuters.