What Is the Intercontinental Change (ICE)?
The Intercontinental Change (ICE) is an American company that owns and operates financial and commodity marketplaces and exchanges. It used to be as soon as based totally in Would possibly 2000 in Atlanta, Georgia. ICE operations include futures exchanges, cash exchanges, central clearing properties, and market services and products for off-exchange purchasing and promoting.
ICE operates futures exchanges inside the U.S., U.K., EU, Canada, Singapore and Abu Dhabi. Its cash exchanges include the New York Stock Change (NYSE), NYSE ARCA, NYSE National, NYSE AMEX Possible choices, NYSE ARCA Possible choices, and NYSE Chicago. ICE moreover operates six central clearing properties: ICE Clear Europe, ICE Clear U.S., ICE Clear Credit score ranking, ICE Clear Netherlands, ICE Clear Singapore, and ICE NGX.
Key Takeaways
- The Intercontinental Change (ICE) is an American company that owns and operates financial and commodity marketplaces and exchanges.
- ICE used to be as soon as based totally in 2000 and used to be a publicly traded company on November 16, 2005; it used to be as soon as added to the Russell 1000 Index on June 30, 2006.
- When it used to be as soon as based totally, the company’s primary focal point used to be as soon as on energy products; on the other hand, by means of slightly numerous acquisitions, the company’s movements have broadened to include other commodities, global cash exchanges, and equity index futures.
ICE used to be a publicly traded company on November 16, 2005, and used to be as soon as added to the Russell 1000 Index on June 30, 2006.
Working out the Intercontinental Change (ICE)
In Would possibly 2000, ICE used to be as soon as based totally thru Jeffrey C. Sprecher, a power plant developer who wanted to create a further transparent and setting pleasant platform for over-the-counter (OTC) energy commodity purchasing and promoting. Compared to information purchasing and promoting, the new platform supplied upper price transparency, efficiency, liquidity, and had lower costs.
When it used to be as soon as based totally, the company’s primary focal point used to be as soon as on energy products, in particular crude and mild oil, natural gasoline, power, and emissions. Through slightly numerous acquisitions, the company’s movements broadened to include other commodities—akin to sugar, cotton, and occasional—along side global cash exchanges and equity index futures.
Consistent with the 2007–08 Financial Crisis, Sprecher formed ICE Clear Credit score ranking, which may serve as a clearing house for credit score ranking default swaps, over-the-counter (OTC) derivatives, and provide a very powerful probability keep watch over services and products for {the marketplace}. In March 2009, ICE Clear Credit score ranking used to be as soon as created and certified in the course of the Federal Reserve as a monetary establishment and two years later, used to be as soon as designated as a clearing house and regulated in the course of the CFTC and SEC. ICE used to be as soon as the principle to supply clearing services and products inside the OTC energy and credit score ranking derivatives markets. Consistent with ICE’s Q1 2022 document, ICE had cleared more than $16.4 trillion in credit score ranking default swaps, up YOY thru 9.7%.
Since its founding in 2000, ICE’s company enlargement has necessarily been finished throughout the purchase of various exchanges. It’s first acquisition used to be as soon as the Global Petroleum Change (IPE), now ICE Futures Europe, in 2001. Inside the following decade, the company expanded thru acquiring the New York Board of Trade (NYBOT) in 2005, Winnipeg Commodity Change, which is now ICE Futures Canada in 2007, Creditex Group in 2008, and Native climate Change in 2010. Quite a lot of further acquisitions handed off the next ten years: NYSE Euronext in 2013, Interactive Wisdom Corporate (IDC) in 2015, Standard & Poor’s Securities Reviews, Inc.in 2016, Virtu BondPoint in 2017, Chicago Stock Change (CHX) in 2018, and Simplifile, LC in 2019. ICE’s most recent enlargement has persevered with the acquisitions of Ellie Mae in 2020 and Black Knight in 2022.
In June 2016, ICE presented a brand spanking new suite of information services and products and tool, referred to as ICE Wisdom Services and products. The proprietary real-time wisdom, valuations, analytics, reference wisdom, evaluated pricing, and connectivity solutions employed thru ICE Wisdom Services and products are used by NYSE, SuperDerivatives, Interactive Wisdom (IDC), and other ICE customers, at the side of financial institutions, asset managers, and individual consumers. ICE Wisdom Services and products moreover provides its customers with unique wisdom from global exchanges and stuck income markets.
According the 2021 FIA document, ICE is the fourth-largest change body of workers in the world, in the back of CME Group, Brazil’s B3, and the National Stock Change of India, ranked on the most productive spot. As of July 2022, the company has a market capitalization of $53.88 billion.
