ATLANTA & LONDON--(BUSINESS WIRE)--Intercontinental Exchange (NYSE: ICE), the leading global network of exchanges and clearing houses, today announced it has completed its acquisition of Trayport from BGC Partners and GFI for approximately $650 million, comprising approximately 2.5 million ICE common shares. The transaction was announced on November 16, 2015, and will help ICE provide new services to the European over-the-counter (OTC) energy markets.
"We will continue to invest in the Trayport platform, maintaining and enhancing its current model to serve the European OTC markets by facilitating the interaction of brokers, utilities and end users, clearing houses and other market participants,” said ICE Chairman and CEO Jeffrey C. Sprecher. “As the European energy markets evolve, we look forward to supporting and developing Trayport’s market leading technology to assist the management of price risks in a liquid, broker-centric marketplace."
As part of ICE, Trayport will continue to be based in London operating as currently to serve the needs of the energy markets with its existing technology platform and services.
About Intercontinental Exchange
Intercontinental Exchange (NYSE: ICE) operates the leading network of regulated exchanges and clearing houses. ICE’s futures exchanges and clearing houses serve global commodity and financial markets, providing risk management and capital efficiency. The New York Stock Exchange is the world leader in capital raising and equities trading.
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Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 - Statements in this press release regarding ICE's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2014, as filed with the SEC on February 5, 2015.
SOURCE: Intercontinental Exchange