IntercontinentalExchange Announces Acquisition of Options Technology Provider WhenTech
ATLANTA, Sept. 4, 2012 /PRNewswire/ -- IntercontinentalExchange (NYSE: ICE), a leading operator of global regulated futures exchanges, clearing houses and over-the-counter (OTC) markets, announced today that it has acquired WhenTech, a market leading technology, software and information provider for option market participants. WhenTech's solutions include options valuation, analytics and risk management platforms.
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ICE's YellowJacket (YJ) subsidiary began working with WhenTech in May of 2010 to provide WhenTech customers instant pricing on option quotes flowing over YJ's instant messaging platform, which is now known as ICE Chat. This relationship expanded to utilize the integrated ICE and ICE Chat platforms to scan the market for trading opportunities, respond to instant message quotes, including request for quote and request for cross transactions, and then immediately execute and fill orders. As liquidity for ICE's electronic options markets increased, the relationship expanded to offer many of these capabilities for thousands of WebICE users.
"By closely integrating WhenTech's market leading pricing and risk management features into the ICE options trading workflow, our customers will be able to quickly identify trading opportunities and execute options orders in a highly efficient and effective manner," said ICE Futures U.S. President and COO Ben Jackson.
"This acquisition is the result of a long-standing and productive working relationship that has enabled our customers to benefit from our combined resources and expertise. We look forward to working together in continuing to bring options market participants leading edge technology solutions to meet their evolving needs," said WhenTech founder Dave Wender.
WhenTech will operate as a wholly-owned subsidiary of ICE. Terms of the transaction were not disclosed.
About IntercontinentalExchange
IntercontinentalExchange (NYSE: ICE) is a leading operator of regulated futures exchanges and over-the-counter markets for agricultural, credit, currency, emissions, energy and equity index contracts. ICE Futures Europe hosts trade in half of the world's crude and refined oil futures. ICE Futures U.S. and ICE Futures Canada list agricultural, currencies and Russell Index markets. ICE is also a leading operator of central clearing services for the futures and over-the-counter markets, with five regulated clearing houses across North America and Europe. ICE serves customers in more than 70 countries. www.theice.com
The following are trademarks of IntercontinentalExchange, Inc. and/or its affiliated companies: IntercontinentalExchange, ICE, ICE and block design, ICE Futures Europe, ICE Clear Europe, ICE Clear Canada, ICE Clear US, ICE Futures U.S., and ICE OTC. All other trademarks are the property of their respective owners. For more information regarding registered trademarks owned by IntercontinentalExchange, Inc. and/or its affiliated companies, see https://www.theice.com/terms.jhtml
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 - Statements in this press release regarding IntercontinentalExchange'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, 2011, as filed with the SEC on February 8, 2012, and ICE's Quarterly Report on Form 10-Q for the quarter ended June 30, 2012, as filed with the SEC on August 1, 2012.
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SOURCE IntercontinentalExchange
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