NEW YORK – Atlanta-based IntercontinentalExchange (ICE) operates four regulated futures exchanges, two over-the-counter (OTC) markets and five clearing houses globally.
ICE agreed to an $8 billion deal to buy New York Stock Exchange owner NYSE Euronext on Thursday.
2000 IntercontinentalExchange founded
In March 2000, seven leading banks and energy concerns announced they were launching an online electronic market for trading over-the-counter (OTC) energy, metals and other commodities. Jeffrey Sprecher, previously resident of Atlanta's Continental Power Exchange, the company which developed the trading system to be used by ICE, was slated as CEO.
2001 ICE acquires London-based International Petroleum Exchange (IPE)
2002 ICE launches industry's first cleared over-the-counter (OTC) energy contracts
2005 ICE initial public offering
Transition to electronic energy futures trade 2006 Launch of West Texas Intermediate (WTI) crude contract February 3, competing with CME Group's light sweet crude contract and its benchmark WTI
2007 ICE completes acquisition of New York Board of Trade (NYBOT)
ICE makes unsolicited offer for CBOT Holdings Inc. as alternative to Chicago Mercantile Exchange Holdings Inc. previous offer. CME acquires CBOT after increasing bid to counter threat from ICE offer
CEO Sprecher says ICE open to buying out a rival or being bought out. "You're in a consolidating industry," Sprecher tells Reuters.
2008 ICE acquires credit default swaps (CDS) processor Creditex
CDS clearing launched in U.S. and Europe
CEO Sprecher tells Reuters ICE constantly talking to exchanges
2009 ICE acquires the Clearing Corporation
2010 ICE acquires the Climate Exchange
(Reporting by Robert Gibbons and Phil Wahba; editing by Andrew Hay)