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This article is more than 1 year old
Watchguard bags BorderWare to push content security
Small security firms have bigger phish to fry
Net security firm WatchGuard has acquired privately-held email and web security firm BorderWare Technologies, of Toronto, Canada.
Terms of the deal, announced Tuesday, were undisclosed. Watchguard said the deal will allow it to add BorderWare's messaging, content security and cloud-based security services to its portfolio.
Watchguard promised no immediate changes to BorderWare's product portfolio or channel programs. BorderWare, which was founded in 1994, employs 90 people.
Although neither firm said so, the acquisition has the hallmarks of two smaller players consolidating forces, in order to better compete with industry giants such as Symantec in tough economic times. Rumours of the pending tie-up began circulating in the channel last week, CRN reports. ®


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Chevy Chase -- Another 'Community' Rant, Drops the N-Word
Chevy Chase 'Community' Star Drops the N-Word During Rant
Chevy Chase had another verbal outburst on the set of "Community" yesterday during filming, this time dropping the N-word during a rant about the direction of the show.
Sources on set tell TMZ ... Chase was complaining about the direction of his character, who he feels has grown increasingly bigoted as the years have gone on. We're told Chase was becoming uncomfortable with the material and was frustrated that his previous conversations about the writing had seemingly gone ignored.
According to our sources, Chase got so heated while discussing his character, he yelled out something along the lines of ... What's next? Am I gonna say the word ni**er?
We're told Chase apologized to the cast and crew for the comment, which was not directed at anyone in particular, certainly not the show's African-American cast members, Donald Glover and Yvette Nicole Brown.
Our sources say production was not halted at any point.
A rep for NBC had no comment.
This isn't Chase's first dust-up on "Community" -- he famously left the show's creator, Dan Harmon, an expletive-laden voicemail message.

subset: commoncrawl


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Commissioned through a design competition, the Office Complex for Delhi Pollution Control Committee proposal by M:OFA Studios houses about 200 officials , scientists and a devoted work force responsible for making and implementing policies, research and formulating norms for keeping India's capital Pollution free. The significance of this office in the larger context is an affirmation of this purpose itself contributing towards a higher standard of living for the populace of Delhi State. It was the understanding of this purpose and sustainability in the Indian context that became the core design parameters for the DPCC head office building. More images and architects' description after the break.
As an example of what the design preaches, here the building acts as an 'Urban Sponge' feeding on polluted air & water of its micro-climate and gives out clean air & water back to the Environment much like the Aquatic sponge which feeds on bacteria and gives out nutrients and oxygen. It's been designed as a next generation green building with multiple passive and active systems co existing and supporting each other aimed at making the building work like a machine that is self-sustainable.
Starting with the orientation of the Building, it harnesses both the north western winds prevalent in Delhi as well as adequate diffused daylight to naturally ventilate, cool as well as minimize the use of lights during the day time. Also bolstering this are the automatic motion sensors, self dimmable ballasts and smart lighting system.
The Parasol roof and window overhangs are lined with Photovoltaic Cells to generate electricity that is stored in the batteries to run the outdoor lighting after sunset. The depth of the overhangs and the roof is designed as per the sun direction and penetration so as to keep a balance between the availability of natural day light inside the office throughout the day yet not increasing the ambient temperature inside the building. Both bringing down the lighting and the air conditioning loads significantly.
The parasol roof like an upturned basin, collects rainwater that is stored in the Underground reservoir surrounding the entire basement perimeter not only bringing the ambient temperature there but providing sufficient Drinking water to take care of the requirement of the entire office for all the year round.
The parallel cavity walls constructed with bentonite clay lined foam concrete blocks act as filters to help in cleaning out the polluted air of the micro climate. Also the vertical green walls in various parts also greatly help in the oxygen exchange. Mechanical filters in the basement which force the polluted hot air from the basement through the hollow walls in winters to act as a heater while cleaning the pollution alongside and in summers infused with fresh air from roof mechanical filters to keep the pollution in check.
Due to its location adjoining the city sewage main drain, tapping into the 'black gold' that the architects call it, The Sewage Treatment Plant turns the black water into grey providing the building three important ingredients; (a) enough methane to run a co-generation gas turbine to produce sufficient electricity adding further to the energy bank, (b) grey water run through a reed bed filtration system removed of its foul smell to be cooled using condensation is then further passed through the tanks filled with phase change material. This cold water is run within the radiating chilled beam system bringing down the air conditioning load significantly. In the end, (c) all the manure left as a final by product is used to bring alive all the landscape planned as terrace gardens and green walls.
The two parabolic forms floating out of the building are a symbolic expression to bubbles of fresh air released into the atmosphere due to this 'Urban Sponge'. These bubbles house the Presentation room and the Meeting room both which are meant as innovation rooms/ 'think tanks' for the scientists and the policy makers. Roof gardens are built as intermediate open spaces throughout the building for shading and cleansing of the air and the much needed 'step out' for the employees to in reality know how their efforts and policies have actually impacted the air quality / pollution levels and the thus the quality of life of the Residents of New Delhi.
The building with its aesthetics symbolizing hope acts as an active-passive filter and represents the transparency of work environment, co-relation and inter dependence and conveys a strong message of Harnessing every waste / outlet and re-utilizing it as a resource and an atmosphere of trust and inter-dependence.
Multiple layers of philosophy, technology, vision and function shaped the final design of the Building which will also host a permanent exhibition on Green Technologies and Innovations as an awareness drive in its Plaza and Exhibition Centre for the people to learn, percolate the information, implement and through osmosis benefit the social fabric ultimately.
Architects: M:OFA Studios Location: New Delhi, India Principal Architect: Manish Gulati Principal Planner: Tanushree Gulati Energy Consultants: TERI Design Team: Shuchita Jain, Amit Palia, Shabina Shahin Site Area: 1350 sqm Built-up Area: 3500 sqm Completion Year: 2014


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Looking for Investors for Flips!
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I'm building a portfolio of investors who do flips! Last week i started a discussion, but I don't think I was clear. I'm finishing up two flips right now, which I have investment companies who specialize in flips for investors who can either purchase with cash or finance with 20% down.... More I'm looking to build upon that because it has worked very well so far. Please send me information if we can do business together. Interested in nationwide, but expect roi of roughly 15% (but would consider less). Less
Posted: 08/28/16
Last updated: Aug 30, 2016
- By: Brandon Swartwood
- from Washington, DC
- in Haves & Wants
- 322 Views


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Dear vendors, developers, users and interested parties,
on behalf of the Federal Office for Information Security (BSI) Germany I would like to invite you to the coreboot conference and developer meeting on October 9-11 2015 in Bonn, Germany.
This conference and developer meeting is geared towards manufacturers of hardware (processors, chipsets, mainboards and servers/ laptops/ tablets/ desktops/ appliances) as well as developers of firmware with an interest in coreboot and the possibilities it offers as well as (potential) coreboot users. Both professionals and hobbyists are invited.
The Federal Office for Information Security (BSI) in Germany will host the conference in Bonn, Germany. As the national cyber security authority, the goal of the BSI is to promote IT security in Germany. For this reason, the BSI has funded coreboot development in the past for security reasons.
The date of the coreboot conference is Friday October 9 to Sunday October 11, 2015. This is scheduled directly after Embedded Linux Conference Europe to make travel arrangements easier for people attending both events.
If your main interest is forging business relationships and/or strategic coordination and you want to skip the technical workshops, Friday (and possibly Saturday) will be the outreach day of talks, presentations and discussions. If your main interest is doing development, you can use the separate developer room next to the during all three days of the conference.
Call for presentations: We are looking for interesting talks/presentations about coreboot related topics for the first (and possibly second) day of the conference. Please note that those presentations are not intended to be advertisements or company portfolio presentations. Expected duration is between 10 and 45 minutes. Submission: Please send the title, a brief summary, the expected duration and name/organization of the speaker to firstname.lastname@example.com until September 21. We will notify you of acceptance until September 28. If you want us to make sure the slides work fine with the projector at the venue, please submit your final slides in pdf form before Ocober 7.
Call for discussion topics and development suggestions: We hope to stimulate discussion and foster new ideas as well as explore ways to improve code, development and deployment. The format for this will be a few minutes (1-5) of presenting your idea/topic followed by discussing it with the audience for approximately 5-20 minutes. While there is no formal deadline for submission, we'd appreciate a submission to email@example.com before October 2 to be able to list the topic on the agenda to allow others to think about the topic in advance.
Call for profiles: This is the chance to tell others what you're doing, what you can offer and in what area you'd like to collaborate. If desired, we can attempt to distribute your profile to other conference participants before the conference. Please submit such profiles before September 30 to firstname.lastname@example.com .
Call for developers: If you want to do development all day, every day, just come and do it. We have power, networking and some spare hardware (please tell us in advance if you need something on site, we might have it in our lab).
Travel information: If you wonder about how to reach Bonn, there are three options available by plane: The closest is Cologne Airport (CGN), 30 minutes by bus to Bonn main station. Next is Dusseldorf Airport (DUS), 1 hour by train to Bonn main station. The airport with most international destinations is Frankfurt Airport (FRA), 1 hour by train to Bonn main station. There's the option to travel by train as well. Bonn is reachable by high-speed train (ICE), and other high-speed train stations are reasonably close (30 minutes).
Conference location: Wissenschaftszentrum Bonn Ahrstrasse 45 53175 Bonn GERMANY
Getting there (German only) http://www.stifterverband.info/veranstaltungen/wissenschaftszentrum_bonn/anf... An English version of the directions will be available at http://coreboot.org/coreboot_conference_Bonn_2015
Accommodation: Accommodation is not centrally organized, but if desired we can point you to websites listing hotel contact information and/or booking services as well as the local tourist information office. We also have a small allotment of rooms close to the venue reserved for conference participants, just ask us.
Spare time activities: If there is enough interest, it might be possible to get a tour of the former top secret bunker of the German Federal Government on Saturday evening. More info at http://regbu.de/Fremdsprachen/GB1.html Besides that, Bonn and Cologne have lots of tourist attractions
Food and drinks: More info will be posted to http://coreboot.org/coreboot_conference_Bonn_2015 shortly.
Date and time: October 9-11 2015 Friday: 9:00-19:00 Saturday: 9:00-16:00 Sunday: 9:00-19:00
To enable us to estimate the number of attendees (for catering etc.), please notify us ASAP whether you will attend the conference at email@example.com. Thank you!
All information is also available at http://coreboot.org/coreboot_conference_Bonn_2015
Sincerely, Carl-Daniel Hailfinger


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I am an immigrant. My transition from my home country of Canada to the US was not traumatic but it wasn't a walk in the park either. There are differences, there are adjustments and there are the blank stares when I say something like " She dropped her soother." to another mom at the park and realize after the awkward silence that I should have said pacifier or binky. Times like that make you feel different from everyone else. I know that as far as immigrating goes I have had it easy. That makes me even more passionate about opening children up to stories about immigration and adjusting to life in a new country. These picture books are all wonderful. Most are specifically about immigration while others are about children who are trying to balance the two often conflicting cultures in their life.
Our book lists contain affiliate links.
How Many Days to America?: A Thanksgiving Storyby Eve Bunting made my heart beat fast and stomach tie in knots. I was so worried for the young family that was fleeing their homeland in a small fishing boat. The book doesn't tell you exactly where the family is from although it seems like they are from somewhere in the Caribbean. What it does do is provide readers with a sense of the urgency, sadness, and the trials along the way when you are a refugee.
One Green Apple by Eve Bunting is a treat. Sometimes learning about the world means learning about people next door to us. The book is not about apples really at all, instead it's about Farrah a little Muslim girl who has come to the United States from an unnamed country and her first day at school. The day is spent on a field trip to an orchard, where the children picked apples and made apple cider.The melting pot analogy is turned into an apple cider one as all the children throw their apples in and work together to press it into cider, even Farrah helps.
The Name Jar by Yangsook Choi is such a lovely book. The main character is Unhei a little girl who has just immigrated from Korea. She is trying to decide on an easy to pronounce American name and her new class helps by offering up suggestions and places them in a name jar. As she gets used to her new surroundings and develops friendships she realizes she doesn't need an American name after all. I really loved this book because there are so many great lessons about being yourself, about being supportive of friends and about being brave in new situations.
Everybody Cooks Rice by Norah Dooley is a fantastic book! The book follows a sister who is looking for her brother in their San Francisco neighborhood. As she goes from door to door each neighbor invites her in to eat some of their supper. Everybody is having some sort of rice dish even though they are all from different countries. My 6 year old really enjoyed this book and understood the message well , my 3 year old sat through it no problem too. There are so many future lessons about geography, nutrition, and travel packed in this one little book! Awesome find.
The Blessing Cup by Patricia Polacco made me cry. This book is the story of the author's great grandmother and her family fleeing Russia as a child during the progroms. There are scary bits when the Czar's soldiers are attacking the synagog but they are imperative to read. If you decide to read this story with your children you can't leave them out. The brutality isn't graphic but it's important for children to understand why the family had to leave Russia. The goodness they encounter on their way to America will take your breath away and the tea cup that comes to represent this will make you look at your mom's fine china in a different light. This book is long but appropriately so, I would share it with children in kindergarten or older who can have thoughtful conversations about such a thoughtful book.
My Name Is Yoon by Helen Recorvits is a book about a little girl from Korea who is adjusting to her new life in America. When her father shows her how to spell her name in English she doesn't like how it looks. It's different, just like she is in her new country. At school she doesn't write her name even though she is able, instead she experiments with other words wondering how her teacher will react when she does. Her teacher is patient and Yoon eventually decides that while her name may look different it is still her name and still has the same meaning. The illustrations have an amazing dreamlike perspective to them and balance out the big emotions in the text.
Suki's Kimono by Chieri Uegaki has been on my shelf for years. I really really like this book, the message is fantastic! Suki loves her Kimono, she doesn't care that her sisters think it's not cool to wear traditional clothes to school, her grandma gave it to her and she likes it. I love that she is depicted as confident but not 100% sure of herself, it allows readers to really connect, recognizing those times when we are putting up a brave face even if inside we aren't so sure. Being yourself is hard and the author connects to that while still creating a strong lovely heroine.
Grandfather's Journey by Allen Say is a lovely book that combines simple text with breathtaking illustrations to immerse readers into its story. The story is about a young man in Japan who goes off to see the world. He sees many things, meets many people, and decides to settle in California. Eventually, his heart brings him and his family back home to Japan and the war changes their lives yet again. His stories of California inspire his own grandson to travel and after he does he understands his grandfather's longing for both places. I think this is such an important point. Immigrants don't lose the love of their homeland just because they have made another country their home. It's a complex experience but this book nailed it.
Angel Child, Dragon Child by Michele Maria Surat is a heart wrenching and honest look at the struggles of a young girl from Vietnam as she goes to school in America. The story talks about her mother being far away and as a reader you think that maybe it's because she is back visiting family in Vietnam. After being put in detention for fighting with a bully it comes out that they didn't have enough money for all the children and mom to join their father. The bully turned friend helps raise money to bring her mom to America so the family can be reunited. It's a great lesson for children about being empathetic and realizing that others may be facing struggles much greater than they let on.
Apple Pie Fourth of July by Janet S. Wong is an awesome book. I am always awed by authors who can tackle complicated "adult" issues in the pages of a children's book successfully. In this case, the issue is first generation identity and immigration, at least that's my take. The little girl in this book is sulking around her parents' store on the 4th of July. They are busy making Chinese food for customers she is sure won't come, she wonders who would want Chinese food on such an American holiday? Of course, there are layers about her connection to her ancestral culture and her own national pride. As a proud owner of a green card and a Canadian passport, I relate to this story and think there are many children who will as well.
All the Way to America by Dan Yaccarino is a wonderful story about immigration and family tradition. My kids both liked the story of the Yaccariono family and how they came to settle in America from Italy. Throughout the story, there is one little shovel that gets used for all different things generation after generation. It's a great symbol for how family roots can stay strong even if how we express them changes. I liked being able to compare it to my own immigration to the United States and how different it was for me in 2003 vs the author's great grandfather over a hundred years earlier. A good book to talk about how people came to the United States and why people move from country to country.


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Has it ever happened to you that you are a good developer but suddenly you need to lead a team or are responsible for some PM activities as well? Did you find that it affected your productivity? How did you handle it?
I love my job, but I sometimes feel I was much happier as a programmer and the additional burden of being a Project Manager is currently affecting my productivity as a developer. What do you guys suggest as remedies to this?
I do not have an alternative currently to quit from my job - basically because Im working for a startup that I co-founded.


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Seating around the diner table, from right to left, Ms Gudmundsson, Agust Gudmundsson (CIVL President), John Grubbstrom (FAI President), the Governor of Bali, the Chief of the Indonesian Air Force (also President of the NAC) and the Indonesian Olympic Committee President. Bali's Governor invited all Delegates and friends to a very nice reception.
A good time for explaining to the top Officials the issues of our sport and for trying to save Bali's flying sites from the overdevelopment of the island. This is also what Plenaries are for: help the developement of our disciplines in inviting nations.
Safety, as always, is ever present in the Plenary discussions and decisions. Although Raymond Caux, CIVL Safety Officer, was not present, some of his actions were discussed.
Click for the FAI President report and CIVL President report.
The 2013 account and the 2014 budget were not presented. This is the second year in a row where it is impossible for CIVL to receive reliable information from FAI Head Office. This totally inacceptable, as clearly stated to FAI President. CIVL is lucky to have quite a bit of money in reserve so it can function daily and finance long term projects.
A new Scoring document was voted and is on the way. We will publish it here asap.
No elections this year. No nomination received for the HG Diploma or the Pepe Lopez Medal.
Bill Moyes was nominated again for the FAI Air Gold Medal.


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Everyone's a winner (actually, only twelve official finalists are winners) at Plácido Domingo's Operalia, which wrapped its 20th anniversary competition last night in Verona, Italy. Here are the names to remember:
- CulturArte Award: $10,000 to 26-year-old Belarus tenor Vladimir Dmitruk
- Don Plácido Domingo Sr. Award for Zarzuela: $10,000 to 27-year-old American tenor Benjamin Bliss
- Pepita Embil Domingo Zarzuela Award: $10,000 to 29-year-old South Korean soprano Hae Ji Chang
- Birgit Nilsson Remembrance Award (for German Wagner/Strauss Rep): $15,000 each to 31-year-old English contralto Claudia Huckle and 27-year-old American soprano Tracy Cox
- Male and Female Third Award: $10,000 each to 30-year-old American soprano Kathryn Lewek and 29-year-old American tenor Zach Borichevsky
- Male and Female Second Award: $20,000 each to 29-year-old French soprano Julie Fuchs and 28-year-old Italian baritone Simone Piazzola.
- Male and Female First Award: $30,000 each to 25-year-old Russian soprano Aida Garifullina and 25-year-old Chinese bass-baritone Ao Li
- Audience Award: Rolex watches to 30-year-old American soprano Kathryn Lewek and 28-year-old Italian baritone Simone Piazzola
Next year's competition is in Los Angeles (so everyone's a winner because a free trip to Los Angeles is not a bad consolation prize.)
(Zach Borichevsky)


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Intercontinental Exchange Group Inc.
Intercontinental Exchange Group | |
Founded | 2000 |
Headquarters | 5660 New Northside Drive NW, 3rd Floor, Atlanta, GA 30328, with offices in New York, London, Chicago, Singapore, Winnipeg, Amsterdam |
Key People | Jeffrey Sprecher, Chairman, CEO, Benjamin Jackson, President |
Employees | 5,549 |
Products | Futures, Options, Securities and OTC markets |
@ICE_Markets | |
Profile | |
Exchange Page | |
Website | www.theice.com |
Releases | Company News |
Atlanta-based Intercontinental Exchange Group (ICE) is a global exchange, clearing, financial data and technology company, operating multiple markets and services across nine different asset classes.
ICE operates 13 regulated exchanges, including ICE futures and OTC exchanges in the US, Canada, Europe and Singapore. It is also the parent company of the New York Stock Exchange and related securities exchanges. Today, the company is among the largest exchange groups in the world and has grown dramatically via a succession of acquisitions of other exchanges, technology firms and data service providers.
A publicly traded company since 2005, ICE (NYSE: ICE) lists more than 12,000 derivatives and securities contracts on its markets. Its derivatives exchange properties include five regulated futures exchanges: ICE Futures US, ICE Futures Europe, ICE Futures Canada, ICE Futures Singapore and ICE Endex.
On the securities side, ICE operates five stock exchanges under the NYSE Group: New York Stock Exchange, NYSE Arca, NYSE American, (formerly NYSE MKT, and AMEX), NYSE National (formerly National Stock Exchange) and Chicago Stock Exchange, plus two US equity options exchanges - NYSE Arca Options and NYSE American Options (formerly NYSE AMEX Options) - and a corporate bond platform, NYSE Bonds.
In the OTC space, ICE operates the energy platform ICE OTC Commodity Markets as well as credit and swaps markets such as ICE Swap Trade, Creditex and ICE BondPoint.[1]
On its derivatives exchanges, ICE offers futures and OTC contracts on: energies, softs, grains, currencies, emissions, precious metals, interest rates and bonds as well as credit and equity indexes. With its stock and options exchanges, it offers traditional stock, equity options and exchange traded products.
ICE exchanges are supported by six clearing houses, which handle the clearing and settlement functions for more than 6 million daily derivatives transactions on its markets. Included on its roster of clearinghouses are: ICE Clear US, ICE Clear Europe, ICE Clear Singapore, ICE Clear Netherlands, ICE Clear Credit and ICE NGX.[2] ICE is a Primary Member of CCP Global, the global association of Central Counterparties (CCP), which represents 42 members who operate more than 60 individual CCPs across EMEA, the Americas and the Asia-Pacific region. [3]
It offers futures and OTC contracts on a single electronic ICE Trading Platform, while equity trading is done on NYSE Pillar, a matching engine for its equity and options markets. Traders can access the platform via WebICE, an internet-based service for exchange members that provides data such as: live market quotes, depth of market, portfolio creation and other key trading information. [4] [5][6] [7]
One of its largest divisions is called ICE Data Services, which handles everything from pricing and analytics services, desktop and connectivity, listings and exchange data.
ICE is also in the digital asset space, forming a new company called Bakkt, which intends to use the Microsoft cloud to handle trading, storage and spending of crypto assets. [8]
In 2021, ICE ranked as the world's 4th largest derivatives exchange by volume, with 3.3 billion contracts traded, up 18.9% from 2.79 billion traded the previous year, according to the Futures Industry Association annual volume survey. That volume is composed of trading from ICE Futures Europe, ICE Futures US, ICE Futures Endex, ICE Futures Abu Dhabi and ICE Futures Singapore, formerly the Singapore Mercantile Exchange on the futures side, and NYSE AMEX and NYSE Arca equity options volumes.
Its NYSE subsidiary was the top exchange in 2017 for the seventh consecutive year in terms of capital raising through IPOs proceeds of $128 billion, from 454 transactions.[9][10]
As of December 31, 2017, ICE had 4,952 employees in its offices in Atlanta, New York, UK, Chicago and other locations around the world, down from 5,631 employees a year earlier.[11]
ICE reported $5.2 billion in revenue in 2019, up 4 percent from the previous year. From that, the company generated $2.66 billion from its data and listings business and $2.54 billion from its trading and clearing business.[12]
The company also ranks among the leading exchanges in market capitalization, which was $42.2 billion in April 2018, a dramatic rise from around $2 billion after its public offering in 2005.[13]
In February 2022, Risk.net named Intercontinental Exchange as its Exchange of the Year in part for its handling of the end of Libor.[14]
Early Years[edit]
ICE's roots go back to the 1997 acquisition of the Continental Power Exchange (CPEX) by Jeffrey C. Sprecher.
With CPEX in poor financial health at the time, Sprecher purchased the company with a goal of building a trading platform for over-the-counter energy markets. The company's technology team then wanted to scrap everything it had been working on under CPEX's prior management and rebuild the system as an internet-based platform using software and coding from Oracle and Java. Sprecher approved the move and the system became the foundation for ICE's globally distributed, high-speed, high-capacity trading platform it uses today. But it was a difficult period for the company. During the technology rebuild, the company lost every one of its customers and its staff of 30 shrank to just six people.[15]
In 1999, ICE faced another challenge as Enron was pushing its own electronic trading platform called EnronOnline with large energy companies. Meanwhile, Sprecher and CPEX vice president Charles Vice moved to partner with large Wall Street and energy firms. With the company struggling financially and battling a much larger competitor in Enron, Sprecher granted firms an 80 percent equity stake in the company in return for their commitment to trade on the platform. Companies such as Goldman Sachs, Morgan Stanley, British Petroleum, Shell and Total and others were among those early investors. [16][17]
In 2000, the company was renamed the IntercontinentalExchange, or ICE, with a goal of becoming the largest OTC energy market. When Enron collapsed under a massive fraud and accounting scandal in 2001, ICE was perfectly positioned to take on those customers and grow quickly through a series of acquisitions that helped it achieve its global ambitions.
In 2001, ICE made one of its earliest and arguably most significant acquisitions, the London-based International Petroleum Exchange, or IPE. That provided ICE with an entry into the futures exchange space with European energy futures. ICE shut down the IPE's trading floor and migrated all of the trading onto its electronic trading platform by 2005, making it the first fully electronic energy futures exchange.[18]
The move made ICE a direct competitor to the New York Mercantile Exchange. NYMEX then attempted to compete with ICE in Europe, opening a new floor-based exchange in Dublin in November 2004. But as electronic trading continued its rapid growth and acceptance in the financial markets, NYMEX's plan to lure London IPE floor traders and trading away was a complete failure. NYMEX's resistance to full-time electronic trading cost the exchange marketshare in crude oil trading to ICE, and eventually forced it to adopt the CME Group's trading platform, CME Globex in 2006, to compete. ICE later renamed the IPE as ICE Futures Europe, and has since expanded its product offering well beyond energies, into equity index and fixed income markets. NYMEX was bought by CME Group in 2008. [19]
Also, in 2002, ICE created ICE Data, a service that provides futures and OTC market data globally to end-users. That segment of its business would be massively expanded in subsequent acquisitions and today is called ICE Data Services.
ICE also partnered with the Chicago Climate Exchange, or CCX, hosting its emissions contracts in conjunction with CCX's subsidiary, the European Climate Exchange. ICE would later buy that exchange in 2010 and fold it into ICE Futures US and ICE Futures Europe.[20][21]
Going Public, Bidding on CBOT, and more Exchange and Clearing Acquisitions: 2005 to 2010[edit]
On November 16, 2005, ICE went public on the New York Stock Exchange. The IPO was priced at $26 per share for 16 million shares. The opening day share price valued the company at over $2 billion, and was up 50.9 percent on day one, closing at $39.25. [22][23][24]
The ICE IPO was part of a trend at the time of traditional member-owned and newer exchanges going through demutualization and then going public. The Chicago Mercantile Exchange had gone public in 2002, while the International Securities Exchange listed in March 2005, followed by the Chicago Board of Trade's IPO in October 2005, followed by the November 2005 ICE public offering. On Sept. 25, 2007, ICE was added to the S&P 500 Index.
ICE made another key acquisition in January 2007, the New York Board of Trade, for approximately $1 billion, which not only helped move ICE beyond energy products and into commodities such as coffee, sugar, cocoa, orange juice and currencies, but also brought them another critical piece of infrastructure, a US-based clearinghouse. ICE quickly moved to shutter the NYBOT trading floor, migrating those contracts onto its electronic trading platform and upgrading its clearing house to handle all ICE Futures US volume.[25] Having its own clearing house meant ICE would no longer depend on an outside clearing facility to handle clearing and settlement for US business, not to mention it provided new revenues for the company.
ICE was still considered a smaller player among established futures markets, but grabbed everyone's attention in March 2007, when it made an unsolicited $9.9 billion bid to buy the Chicago Board of Trade during the FIA Boca International Futures Industry Conference. CBOT then was in merger negotiations with the Chicago Mercantile Exchange. The bid topped the CME's offer of $8.9 billion for the CBOT, and threw the long-expected Chicago tie-up into question. CME eventually upped its bid for the CBOT, largely due to the competing counter-offers from ICE, closing the deal for $11.6 billion in July 2007.
Even though it lost that bid, ICE continued to push forward with new acquisitions, purchasing the Winnipeg Commodity Exchange in July 2007. The exchange, best known for its canola futures, was renamed ICE Futures Canada also included a Canadian regulated clearinghouse, which was renamed ICE Clear Canada.
The company made three more key acquisitions in 2008. In February 2008, ICE purchased YellowJacket Software, a peer-to-peer messaging platform used to trade on OTC options markets. This software, used extensively in the OTC trading space, was renamed ICE Chat.
In September 2008, ICE moved into the burgeoning credit derivatives space with the purchase of an interdealer market called Creditex for $625 million in cash and stock. That purchase, which provided ICE with the technology to handle trade execution and processing of credit default swaps in the US, Europe and Asia, would serve as one of the core pieces of ICE's credit derivatives business. ICE later sold off certain US Creditex voice brokerage services to Tullett Prebon in July 2016. [26][27][28]
In October 2008, ICE moved to bolster that business with a clearing house acquisition. ICE purchased The Clearing Corporation, formerly known as the Board of Trade Clearing Corporation, with the support of that clearing facility's main member firms: Bank of America, Citi, Credit Suisse, Deutsche Bank, Goldman Sachs, J.P. Morgan, Merrill Lynch, Morgan Stanley and UBS. The clearing house was then designated to serve as a comprehensive clearing facility for the CDS market. Initially the clearing house was called ICE Trust but later was renamed ICE Clear Credit and launched in March 2009 as the world's first credit default swap clearinghouse. It is regulated by the SEC and CFTC and is designated as a Systemically Important Financial Market Utility.[29] [30] [31]
In November 2008, ICE launched its second credit default swap clearing house, ICE Clear Europe giving it an early lead in the global CDS clearing space. ICE Clear Europe operates in a dual and separate fashion. One one side of the clearinghouse, ICE Clear Europe's CDS clearing operations, launched in July 2009, serves its European CDS markets. On the other side, ICE Clear Europe handles all of its European futures trading ranging from energies to interest rate futures. [32][33] By September 2012, ICE had cleared more than 1 million CDS trades to date.
The creation of ICE Clear Europe was another critical piece of its global clearing strategy. Before launching its own European clearing house, it had used LCH.Clearnet to handle its European futures trades. ICE completed the transition of cleared trades from LCH.Clearnet to ICE Clear Europe in November 2008.
ICE's Biggest Deal, NYSE Euronext: 2011 to 2013[edit]
With US, Canadian and European exchanges and clearinghouses intact, ICE set its sights on its largest acquisition. In April 2011, ICE and Nasdaq OMX partnered to make an offer of $11.3 billion in stock and cash for NYSE Euronext, which operated the New York Stock Exchange, NYSE Arca, NYSE Arca Options, Amex options as well as the stock and derivatives markets in the Euronext group, which included Euronext LIFFE, one of the main futures markets for European interest rate futures. [34]
Under the proposed deal, ICE would have acquired NYSE Euronext's derivatives businesses and Nasdaq would have received Euronext's stock exchanges, the NYSE and its cash markets, the US options exchanges as well as Euronext's stock markets in Paris, Brussels, Amsterdam and Lisbon.
That offer and two subsequent offers were rejected by the NYSE Euronext board and the offer was finally dropped in May 2011, citing opposition to the deal from US antitrust regulators. It also opened the door to a prior bid in February 2011 from Deutsche Boerse for NYSE Euronext. But that bid also was killed by European Union anti-competition agencies in February 2012. [35] [36][37]
ICE came back with its own solo offer for NYSE Euronext in December 2012 for $8.2 billion. The combination stock and cash deal closed on November 13, 2013 for approximately $11 billion. "This is a game-changing transaction," Sprecher said at the time, as the deal provided ICE with new asset classes in stocks, equity options and additional European financial futures. The acquisition pushed ICE's market cap valuation to about $23 billion.
The big win for ICE in the deal was the LIFFE exchange (formerly the London International Financial Futures Exchange or NYSE LIFFE, the London-based futures market which offers key benchmark indexes, interest rate contracts and agriculture futures. Liffe futures were migrated over to ICE Futures Europe including: Sterling futures, Euribor futures and Long Gilt futures among others. It also acquired commodities such as cocoa, robusta coffee and sugar, giving ICE softs futures in both the US and Europe. It completed the migration in November 2014[38]
The new holding company formed in the acquisition retained ICE's ticker symbol and the enlarged entity is called ICE Group. [39] Sprecher remained chairman and CEO of the combined company; NYSE Euronext CEO Duncan Niederauer became the president of ICE but stepped down in May 2014.[40][41]
As part of the plan, ICE spun off Euronext in an initial public announced on June 19, 2014, with the stock trading the next day. Before the IPO, ICE sold a stake of 33.36 percent to a group that included Banco Espirito Santo SA, BNP Paribas SA (BNP), ABN Amro Group NV, Societe Generale SA (GLE) and Euroclear SA/NV, at a price of €19.20 per share. [42]
Other notable moves by ICE included taking a majority stake of 79.12 percent in APX Endex in September 2012, taking control of the Amsterdam-based company's Dutch gas and power derivatives business. It was renamed ICE Endex and is a joint initiative with Gasunie, a European gas infrastructure company. [43] [44]
ICE took steps to gain a foothold in Brazil with two investments. In June 2011, it launched BRIX, a Brazilian market for electric power, using ICE's electronic trading platform. It's partner firms included: Agroenergia Comercializadora, Bunge, CESP, Clealco, Compass, Coteminas, EletroNorte, Eucatex, Ibrame Laminacao, MPX, Quanta, Rexam, Seal Energy and White Martins.
ICE also took a 12.4 percent stake in Cetip, Brazil's largest clearinghouse in July 14, 2011. Under the deal, ICE paid $512 million in cash, or R$25.50 for its shares in Cetip. ICE sold its equity stake in Cetip in 2017, noting a profit of $167 million on the venture.[45][46]
ICE Moves Into Data, Creates ICE Data Services[edit]
ICE looked to further diversify after the NYSE Euronext deal with a series of strategic investments, particularly in data services and technology, power and energy markets as well as in exchanges and clearing houses in Europe and Asia.
In October 2014, ICE purchased SuperDerivatives, a market data and analytics provider specializing in derivatives pricing models across all asset classes, risk analysis and cloud-based market technology, as well as a chat platform that is similar to competitors such as Bloomberg. The deal was priced at $350 million in cash.[47][48][49]
That was followed by another bold move in the data space in December 2015 with a $5.2 billion cash and stock acquisition of Interactive Data Holdings Corp., a subsidiary of Silver Lake and Warburg Pincus. The firm provides pricing data to more than 5,000 customers including many of the firms that use ICE's markets and services, such as asset managers, hedge funds, banks and insurance companies. [50][51] [52]
It complemented those services in March 2016, announcing the acquisition of two business data units from McGraw Hill Financial: Standard & Poor's Evaluations, a fixed income evaluation pricing service; and Credit Market Analysis, a data provider for OTC markets.
All of these units and ICE's existing data services group were folded into one division that was renamed ICE Data Services in June 2016. The division offers data services for information, analytics and connectivity, as well as proprietary data and tools in fixed income, equities, commodities, FX and options. It offers real-time pricing, data from its 11 exchanges, desktops and tools and connectivity and hosting services.
In May 2019, ICE Data Services received approval from the UK's Financial Conduct Authority (FCA) as a third country benchmark administrator under the European Benchmark Regulation, meaning that market participants could reference its indices in compliance with the rules. Also in May, ICE Data Services announced the launch of a new data management platform for historical tick data known as the ICE DataVault. The cloud-based platform provides users with aggregated real-time tick data via programmatic, cloud, or click-thru access.[53]
More OTC and Clearing, plus Asia, and Smaller US Stock Exchanges: 2013 to 2018[edit]
In the exchange and clearing space, ICE made three key acquisitions from 2013 to 2016, helping the company expand in European energies and clearing, as well as launching its first exchange in Asia.
ICE expanded into Asia with the purchase of the Singapore Mercantile Exchange and its clearing house SMX Clearing Corporation in November 2013 for $200 million. The exchange was essentially shut down, revamped and renamed ICE Futures Singapore, and was launched in November 2015 with five contracts in brent crude, gasoil, gold and Renminbi futures, cleared at the exchange's renamed clearinghouse ICE Clear Singapore. ICE Futures Singapore represents another step in the global expansion for ICE, and an effort to address more Asian clients. It also is the first exchange, among non-domestic markets such as CME Group and Eurex, to launch a Singapore-based exchange and is considered a challenger to the domestic market, Singapore Exchange, or SGX. [54]
ICE also completed a majority stake purchase in December 2014 of the Holland Clearing House, which is the central counterparty clearing facility for equity and index derivatives contracts listed on The Order Machine, or TOM in the Netherlands. The facility was renamed ICE Clear Netherlands in July 2015, as the sixth clearing house under the ICE Group umbrella and the first continental European clearing facility for ICE.[55] [56]
ICE completed another key acquisition in the European energy space in December 2015 with the purchase of Trayport, a London-based OTC energy market. ICE purchased the company from BGC Partners and GFI, a subsidiary of BGC, for approximately $650 million in ICE shares, and in the process, beat out competitor CME Group, which also had bid for Trayport. Trayport helped bolster ICE's strong position in European energy futures and OTC markets, as a key market used by many in the power, natural gas and coal trading space. [57] [58][59] [60]
However, in October 2016 the UK Competition and Markets Authority said the acquisition violated antitrust laws, and that was reaffirmed by a UK appeals court in March 2017. The UK agency demanded that ICE sell Trayport.[61] ICE appealed the decision but lost. It ended up selling Trayport to TMX Group for £350 million cash, plus NGX, Shorcan Energy, in a deal closed in December 2017.[62][63]
ICE launched a new OTC platform called ICE Swap in August 2016, which offers trading on single-name credit default swaps in a central limit order book. The platform offers anonymous and so-called "name give-up" execution, allowing participants to reveal their identity after a trade is finished. ICE also launched a CFTC-registered swap execution facility (SEF), on October 2, 2013. The SEF was granted permanent registration status, along with 18 other SEFs, in January 2016. [64][65][66]
In May 2016, NYSE Group announced it had completed the rollout of its new trading platform for NYSE Arca. The new equities and options platform is designed to reduce complexity and improve on performance.
In early 2017, it announced the trading floor of the NYSE American exchange, (formerly known as NYSE MKT and American Stock Exchange (AMEX), would shut down in the second quarter of 2017. On July 24, 2017, it launched a new market model on the Pillar platform for NYSE American and on August 24, 2017, NYSE Arca introduced new gateways that "harmonize" NYSE American and NYSE Arca platforms. [67][68][69]
On January 31, 2017, ICE's NYSE completed the acquisition of the National Stock Exchange and renamed it NYSE National. The exchange relaunched on April 30, 2018, as an all-electronic equity market with a maker-taker pricing model. The strategy is to offer complementary pricing structures to its other equities markets.[70][71]
ICE continued its consolidation of smaller US equity markets with the acquisition of the Chicago Stock Exchange (CHX) for an undisclosed amount in July 2018. The plan was to move the exchange onto the NYSE Pillar trading technology.[72][73][74]
Push Into Fixed Income And Cryptocurrencies[edit]
In late 2017 and into 2018, ICE pushed further into the fixed income space with three acquisitions. The first, closed in October 2017, was the acquisition of the Bank of America Merrill Lynch Global Research Index platform, which features more than 5,000 fixed income indices with nearly $1 trillion of investments benchmarked to them. The deal made ICE the second largest fixed income index provider by benchmarked assets.[75]
The second, a $400 million cash acquisition of Virtu BondPoint, an electronic fixed income trading platform, was closed in January 2018. This dealer-to-client platform was integrated with ICE's continuous evaluated pricing serves from ICE Data Services and its SFTI network, a private network that connects to exchanges and content providers.
On July 23, 2018, the company completed the purchase of TMC Bonds LLC, a fixed income market that offers cash treasury, municipal, corporate, agency bonds and certificates of deposit, for $685 million in cash.[76]
On August 3, 2018, ICE announced plans for a new company called Bakkt, which was working with BGC, Microsoft, Starbucks and others to build a platform for consumers to buy, sell, store and spend digital assets on a global network. It's initial use case is focused on trading and conversion of bitcoin against fiat currencies. ICE, for its part, plans to offer a 1-day physically delivered Bitcoin contract and physical warehousing in November 2018. It also plans to create a separate guarantee fund, funded by Bakkt.[77]
In February 2019, ICE moved to wrap its fixed income businesses - ICE BondPoint, TMC Bonds and ICE Credit Trade - into one entity it named ICE Bonds. ICE Bonds also will add on ICE Data Service's pricing and analytics tools. The three trading platforms were combined under a single broker-dealer entity in 2019.[78] In November 2022, ICE Bonds received approval for expansion into Canada.[79]
The company pushed into the mortgage space in May 2019 with the announced $335 million acquisition of Simplifile, which provides electronic processing of mortgage records. The deal followed the 2018 acquisition of Mortgage Electronic Registrations, a national registry for tracking servicing rights and ownership of US mortgage loans.[80][81]
ICE closed the purchase of the Merrill Lynch Option Volatility Estimate (MOVE) index and the accompanying fixed income volatility indices from Bank of America Merrill Lynch in October 2019. The indices were renamed ICE Data Indices and are part of the ICE Data Services business.[82] The deal was motivated in part by ICE's decision to target the growth of fixed income ETFs, which surpassed $1 trillion in assets in 2019, according to ICE Data Services President and COO Lynn Martin.[83][84]
In March 2021, the exchange announced launched a new exchange and new crude oil futures contract on the Abu Dhabi National Oil Company's Muban crude oil.[85] The new entity, called ICE Futures Abu Dhabi, was set up in that country's free trade zone, called the Abu Dhabi Global Market. ICE lists the physically delivered contract, which is cleared on ICE Clear Europe. The move is considered a big one in the energy markets, as it represents a major change in Middle East crude oil pricing. ICE partnered with Abu Dhabi National Oil Company (ADNOC), BP, Total, Inpex, Vitol, Shell, Petrochina, Korea's GS Caltex, Japan's JXTG and Thailand's PTT in the new exchange.[86][87]
Company Overview: Exchanges, Clearing Houses, Technology, Data Services[edit]
ICE Futures Exchanges | |||
It also offers contracts on short-, medium- and long-term interest rates such as the Eurodollar and GCF Repo futures, agriculture such as softs, emissions and equity derivatives such as the FTSE and MSCI futures. ICE Futures Europe is a Recognised Investment Exchange and regulated by the U.K. Financial Services Authority (FSA), with additional oversight by the CFTC, including position limits and enhanced reporting, for all U.S. linked contracts. ICE shut down the former IPE trading floors and switched trading over to an all electronic trading platform in 2005, making it the first fully electronic energy exchange in the world.[89]
The exchange was essentially shut down, revamped and renamed ICE Futures Singapore, and launched in November 2015 with five contracts in brent crude, gasoil, gold and Renminbi futures, cleared at the exchange's renamed clearinghouse ICE Clear Singapore. ICE Futures Singapore is the fifth futures exchange for ICE. [90]
ICE Securities Exchanges | |||
NYSE Options Exchanges | |||
*NYSE Amex Options, owned by IntercontinentalExchange Group since November 2013, is a US options exchange. It trades options on US-listed stocks, American Depositary Receipts (ADRs), broad-based, industry sector and international indexes, exchange traded funds (ETFs), and HOLDRS. In addition to conventional options, it also trades LEAPS and equity and index FLEX options. [94]
ICE OTC Markets | |||
*ICE OTC Energy is the internet-based global OTC energy market launched in 2000, and was the first major market and foundation for the company. The platform offers cleared and bilateral transactions on crude oil, natural gas, power, refined petroleum and natural gas liquids (NGL) contracts. ICE's Henry Hub OTC natural gas swap is regulated by the CFTC as a Significant Price Discovery Contract. More than 95% of ICE's OTC energy volume is cleared.
ICE Clearing Houses | |||
ICE's technology and services | |||
ICE technology and services
bilateral and cleared OTC markets, as well as all ICE futures and options markets. ICE has more than 21,000 concurrent connections to its platform globally each day via is WebICE browser, and independent software vendors and co-location data centers.
ICE Data Services | |||
ICE Data Services
The other main department at IDG is Trading Solutions, which includes: real-time market data feeds and trading infrastructure managed services for banks, brokers asset managers, hedge funds and others. This data across many asset classes helps support low latency traders and other applications dealing with portfolio pricing, risk and compliance. It also offers web applications and workstations providing market data, analytics and tools for traders. [97][98][99][100]
In February 2014, ICE was authorized by the FCA in London to oversee the LIBOR benchmark. In July 2014 ICE took over the administration of the ISDAFIX benchmark, a key rate for the pricing and settlement of swaps which is now called the ICE Swap Rate. And in March 2015, ICE was given authority to oversee the Gold Price, previously known as the London Bullion Market Association Gold Fixing Price, established in 1919. [104]
Acquisitions & Transactions[edit]
- June 2001: ICE expanded its business into the regulated futures markets by acquiring the International Petroleum Exchange for $130 million in cash and stock. On Sept. 3, 2007, the exchange was renamed ICE Futures Europe.
- January 2007: ICE acquired the New York Board of Trade for $1 billion, which included NYBOT's clearing house. While the acquired futures contracts were moved to trade only on the ICE electronic platform, the option products continue to be traded both electronically and via its traditional open outcry mode. On Sept. 3, 2007, the exchange was renamed ICE Futures U.S.
- July 2007: ICE acquired and integrated ChemConnect's markets to its over the counter business, adding a marketplace for natural gas liquids (NGL's), propane and other chemicals.
- August 2007: ICE acquired the Winnipeg Commodity Exchange for $37.4 million, and changed its name to ICE Futures Canada on January 1, 2008.[106][107]
- October 2007: ICE acquired Chatham Energy, an OTC energy brokerage firm specializing in structuring and facilitating transactions in the energy options markets.
- January 2008: ICE acquired YellowJacket Software, a peer-to-peer instant messaging trading tool for the OTC markets. The technology was renamed ICE Chat.[108][109]
- August 2008: ICE acquired Creditex Group, Inc., a credit default swaps processor in the U.S., Europe and Asia for $625 million. The transaction, totaled $625 million.[110][111]
- March 2009: ICE completed its acquisition of The Clearing Corporation and launched clearing services for CDS under ICE Trust using TCC's technology and risk management frameworks. It was later rebranded as ICE Clear Credit.[112] [113]
- July 2010: ICE completed its purchase of the Climate Exchange plc for $606.7 million dollars. The Climate Exchange includes the Chicago Climate Exchange, the European Climate Exchange and the Chicago Climate Futures Exchange. [114] ECX is the world's largest trader of carbon-emissions permits under the EU cap-and-trade system while CCX trades mostly voluntary permits in the U.S. market.
- July 14, 2011: ICE announced the acquisition of 12.4 percent of Cetip, Brazil's largest clearinghouse. Under the deal, ICE paid $512 million in cash, or R$25.50 for its shares in Cetip. Advent International, which invested in Cetip prior to its initial public offering, was the main seller and with the sale, transitioned off the board of Cetip.[115]
- September 2012: ICE acquired WhenTech, a technology software firm focused on options valuation, analytics and risk management.[116]
- March 2013: ICE acquired 79 percent of APX-Endex's derivatives and spot business, and renamed the company ICE Endex. It's contracts are traded on the ICE Trading Platform and cleared on ICE Clear Europe. ICE purchased the remaining shares in the company from N.V. Nederlandse Gasunie in July 2017.[117]
- November 13, 2013: ICE acquired NYSE Euronext in a stock-and-cash transaction valued at approximately $11 billion.[118] The exchange had first announced plans to buy NYSE Euronext on December 20, 2012.[119] The terms of the deal called for $11.27 in cash and 0.1703 shares of ICE for each NYSE Euronext share.[120] [121] ICE spun off Euronext in an initial public offering announced on June 19, 2014, with the stock trading the next day. The shares were sold for 20 euros apiece in an 845 million euro ($1.2 billion) transaction. The stock trades in Paris, Amsterdam and Brussels under the "ENX" symbol.[122] All of the 42,248,881 offered Shares were sold in the IPO, representing 60.36% of the total issued ordinary share capital of the company.[123] [124] Before the IPO, ICE sold a stake of 33.36% to a group that included Banco Espirito Santo SA, BNP Paribas SA (BNP), ABN Amro Group NV, Societe Generale SA (GLE) and Euroclear SA/NV, at a price of €19.20 per share.[125] [126]
- February 2014: ICE acquired the Singapore Mercantile Exchange, including its clearing house subsidiary, the SMX Clearing Corporation (SMXCC) in an all-cash transaction for $200 million. The exchange would be renamed ICE Futures Singapore and the clearing house, ICE Clear Singapore.[127] The deal, completed in February 2014 gave ICE a foothold in Asia and made it the first non-Asian exchange to own a clearing house there. [128][129]
- April 2014: ICE purchased Algo Technologies Ltd. to use its technology to serve as the new NYSE matching engine.[130]
- August 2014: ICE acquired U.S. patent rights relating to automated trading strategies that make price and trading decisions based on market price information. Speaking on ICE's Q2 earnings call, CEO Jeffrey Sprecher said the patents would allow the exchange group to more broadly protect its customers, and added that ICE was also developing its own licensing plan. The intellectual property rights cover multiple asset classes traded electronically on exchanges, including futures, options and cash equities.[131] [132]
- October 7, 2014: ICE acquired SuperDerivatives, an Israeli financial technology group, for about $350m in cash, adding to ICE's clearing, risk management and market data strategy.[133] In addition to data and analytics, SuperDerivatives provides a chat platform similar to the one used on Bloomberg terminals. ICE had been looking to enter the high-tech information terminal space to compete with Bloomberg and other information providers. The acquisition also gives ICE access to the group's DGX product, which allows traders to access live pricing and news and to analyze theoretical trades before they execute them.[134]
- November 2014: ICE subsidiary NYSE acquired True Office, a compliance education company which provides information on compliance and governance risk compliance in an interactive format. [135]
- December 3, 2014: ICE completed its strategic investment in the Holland Clearing House, a continental European derivatives clearing house, giving ICE a total of six clearing houses. ABN Amro Clearing retained a minority interest. Holland Clearing House (HCH) was renamed ICE Clear Netherlands and is the primary clearing house for the TOM multi-lateral trading facility.[136] [137]
- July 2014: ICE sold the NYSE Technologies division, which offered transaction, data and infrastructure and managed services. ICE sold off NYFIX, Metabit and Wombat, the three companies that comprised NYSE Technologies. Wombat was sold to SR Labs, (later renamed Vela) while NYFIX and Metabit were sold to ULLINK (which later merged with Itiviti).[138]
- December 11, 2015: ICE acquired Trayport, an electronic energy trading platform, from BGC Partners and GFI for approximately $650 million, comprising approximately 2.5 million ICE common shares. BGC acquired Trayport when it bought the company's parent, GFI Group, for $750 million. The acquisition ran into problems however, when the UK Competition and Markets Authority, said it violated antitrust laws and tdemanded that ICE sell Trayport. After a UK court affirmed that ruling in March 2017, ICE said it would divest itself and in October 2017 announced it would sell Trayport to TMX Group in exchange for TMX Group assets that included NGX, or (Natural Gas Exchange) and Shorecan Energy Brokers and cash of £350 million.[139] [140] [141] [142][143]
- December 14, 2015: ICE completed its acquisition of Interactive Data Corp. from Silver Lake and Warburg Pincus for $5.2 billion. The deal put ICE into the market for pricing and data on interest rate products and illiquid bonds.[144] Interactive Data is now a wholly-owned subsidiary of ICE.[145]
- October 3, 2016: ICE completed the acquisition of two business data units from McGraw Hill Financial, Standard & Poor's Evaluations, a fixed income evaluation pricing service and Credit Market Analysis, a data provider for OTC markets. It was renamed Securities Evaluations by ICE and is managed separately from ICE Data Services.[146][147]
- January 31, 2017: ICE's NYSE closed the acquisition of the National Stock Exchange and renamed it NYSE National.[148]
- June 17, 2016: ICE announced the purchase of a majority stake in MERSCORP Holdings, owner of Mortgage Electronic Registrations Systems, Inc. The two companies entered into a software development agreement to improve the MERS system.
- May 1, 2017: ICE closed the acquisition of TMX Atrium, an extranet and wireless information services business from TMX Group. Terms of the deal were not disclosed.[149]
- October 22, 2017: ICE completed its acquisition of the Bank of America Merrill Lynch Global Research division's fixed income index platform, folding it into ICE Data Services. It was rebranded as ICE BofAML Indices, featuring more than 5,000 indices and nearly $1 trillion benchmarked to them.[150]
- October 25, 2017: ICE acquired a 4.7% stake in Euroclear for EUR 275 million from the previous stakeholder, RBS.[151]
- January 2018: ICE closed a $400 million cash acquisition of Virtu BondPoint, an electronic fixed income trading platform. [152]
- July 17, 2018: ICE closed the acquisition of the Chicago Stock Exchange (CHX) for an undisclosed amount.[153][154]
- July 23, 2018: ICE completed the acquisition of TMC Bonds, a fixed income platform, for $685 million in cash.[155]
- May 1, 2019: ICE announced the acquisition of Simplifile, a firm that provides electronic processing of mortgage records.[156]
- October 16, 2019: ICE closed the purchase of the Merrill Lynch Option Volatility Estimate (MOVE) index and the accompanying fixed income volatility indices from Bank of America Merrill Lynch. The indices were renamed ICE Data Indices and are part of the ICE Data Services business.[157] The deal was motivated in part by ICE's decision to target the growth of fixed income ETFs, which surpassed $1 trillion in assets in 2019, according to ICE Data Services President and COO Lynn Martin.[158][159]
- September 4, 2020: ICE announced that it received regulatory approval and fully completed its $11 billion acquisition of Ellie Mae from private equity firm Thoma Bravo. Founded in 1997 to automate and digitize the trillion-dollar residential mortgage industry, Ellie Mae provides technology services to participants in the mortgage supply chain through its digital lending platform, including more than 3,000 customers and thousands of partners and investors who participate on their open network who provide liquidity to the market. [160]
ICE Group Total Contract Volume[edit]
Year | Total Annual Volume* | Percent Change |
2021 | 3,317,893,282 | 18.97 |
2020 | 2,788,944,012 | 23.58 |
2019 | 2,256,762,531 | (-) 8.79 |
2018 | 2,474,233,217 | 16.4% |
2017 | 2,125,404,062 | 4.3% |
2016 | 2,037,932,88 | 1.9% |
2015 | 1,1998,810,416 | (-) 9.8% |
2014 | 2,276,171,019 | (-) 11.0% |
2013 | 2,558,489,589 * | 439.9% |
2012 | 473,895,526 | 24.4% |
2011 | 381,097,787 | 15.9% |
2010 | 328,946,083 | 24.8% |
2009 | 263,582,881 | -- |
*2013 volume reflects the acquisition of NYSE-Euronext
Exchange | Volume | Percent Change |
ICE Futures Europe | 1,276,090,376 | 9.35% |
NYSE Amex | 389,866,979 | 32.8% |
NYSE Arca | 460,113,544 | 52% |
ICE Futures U.S. | 342,613,160 | (-) 3.3% |
ICE Futures Canada | 2,973,036 | (-) 46.3% |
ICE Futures Singapore | 2,566,022 | 12.1% |
ICE Futures, Options & OTC Products[edit]
Agricultural contracts traded include: US and UK-based softs contracts: ICE U.S. Coffee "C" Arabica, which is the world's largest coffee futures contract, Robusta Coffee, Cotton No. 2, World Cotton, Cocoa, , Frozen Concentrated Orange juice, ICE Sugar No. 11,ICE Sugar No. 16 and White Sugar.
ICE also offers grains including ICE Canola and several traditional agriculture contracts in corn, wheat and soybeans.
For a full list of energy products on the ICE website, click HERE
ICE offers Eris Exchange credit index derivatives as cash settled futures with $100,000 notional principal, whose value represents a basket of credit default protection on the entities in the index. These contracts are settled in the ICE Clear Credit clearing facility.
Energy, Emissions and Power[edit]
Nearly half of the world's global crude futures by volume is transacted on the ICE exchange. It currently offers futures and options contracts on coal, crude oil, refined products, electricity, emissions, liquified natural gas, natural gas, natural gas liquids and petrochemicals offered on its ICE Futures US, ICE Futures Europe, ICE Futures Singapore, ICE OTC platform, ICE Endex and Trayport markets.
For a full list of energy products on the ICE website, click HERE
Equity Derivatives[edit]
ICE offers equity index and single stock futures including contracts on FTSE indexes, MSCI indexes, Russell Indexes, single stock futures and options and ICE Block contracts.
For a full list of equity derivatives products on the ICE website, click HERE
ICE's FX futures are best known for its ICE US Dollar Index. ICE also offers cross currency pairs, and US dollar and euro-based pairs.[161]
For a full list of FX products on the ICE website, click HERE
ICE offers a number of dry and wet freight futures contracts that cover major shipping routes around the world.
For a full list of freight products on the ICE website, click HERE
Interest Rates[edit]
ICE offers a number of short, medium and long interest rate futures, swap notes and Eris branded interest rate futures. Many of its interest rate futures were acquired in the 2013 purchase of NYSE Euronext, which included the London-based derivatives market then known as NYSE Liffe. Those well-traded products, such as the three-month short sterling futures, EURIBOR futures and Long Gilt Futures, were some of the benchmark contracts that were moved over to ICE Futures Europe.
For a full list of interest rate products on the ICE website, click HERE
ICE offers a slate of precious and ferrous metals contracts including gold, silver and iron ore.
For a full list of metals products on the ICE website, click HERE
US Environmental[edit]
ICE offers a number of regional emissions futures contracts for carbon markets in California, the Northeast's Regional Greenhouse Gas Initiative, Massachusetts, Connecticut and Renewable Energy Certificates for New Jersey.
For a full list of US environmental contracts on the ICE website, click HERE
OTC Markets[edit]
The ICE OTC markets include Credit Default Swaps, Creditex, ICE Swap Trade for bilateral energy contracts and physical energy contracts on the ICE OTC platform for North American natural gas, power and global crude and refined oil products.
ICE offers approximately 500 OTC energy contracts, with a large portion of the volume occurring in about 70 contracts in North American gas and power and global oil.
For a full list of Physical OTC energy contracts on the ICE website, click HERE
For a full list of OTC energy swaps contracts on the ICE website, click HERE
Credit ICE offers execution, processing for OTC credit derivatives through its Creditex and ICE Swap Trade, cleared through ICE Clear Europe and ICE Clear Credit. Such trades can be facilitated through ICE Link, an automated workflow and connectivity platform for affirming credit derivatives trades, or post-trade processing.
For a full list of OTC energy swaps contracts on the ICE website, click HERE
Sustainability at ICE[edit]
Information about ICE's corporate commitment to sustainability can be found on its website here.
Key People[edit]
Jeffrey Sprecher, Chairman, Chief Executive Officer
Benjamin Jackson, President
Trabue Bland, President of ICE Futures US
Christopher S. Edmonds, Senior Vice President, Financial Markets
Stanislav Ivanov, President, ICE Clear Credit & TCC
Stuart Williams, President, Chief Operating Officer, ICE Futures Europe
- Douglas Foley, Senior Vice President, HR & Administration, Intercontinental Exchange
- Warren Gardiner, Chief Financial Officer, Intercontinental Exchange
- Amanda Hindlian, President, Fixed Income & Data Services, Intercontinental Exchange
- Jennifer Ilkiw, President, ICE Futures U.S.
- Mayur Kapani, Chief Technology Officer, Intercontinental Exchange
- Elizabeth King, President, ESG & Chief Regulatory Officer, Intercontinental Exchange
- Lynn Martin, President, NYSE Group & Chair, ICE Fixed Income & Data Services
- Kevin McClear, President, ICE Clear U.S.
- Brookly McLaughlin, Vice President, Corporate Affairs & Sustainability, Intercontinental Exchange
- Christopher Rhodes, President, ICE Futures Europe
- Joanne Rowe, Corporate Risk Officer, Intercontinental Exchange
- Hester Serafini, President, ICE Clear Europe
- Octavia Spencer, Vice President, Associate General Counsel & Corporate Secretary, Intercontinental Exchange
- Andrew Surdykowski, General Counsel, Intercontinental Exchange
- Joe Tyrrell, President, ICE Mortgage Technology
- David Underwood, Chief Audit Executive, Intercontinental Exchange
- Mark Wasserug, Chief Information Officer, Intercontinental Exchange
Corporate Governance[edit]
The following individuals are members of ICE's board of directors:
Annual Reports[edit]
- 2018 Annual Report (No title)
- 2017 Annual Report (Transforming Global Markets)
- 2016 Annual Report (Illuminating Markets)
- ICE 2015 Annual Report (No title)
- ICE 2014 Annual Report (No title)
- ICE 2013 Annual Report (No title)
- ICE 2012 Annual Report (No title)
- ICE 2011 Annual Report Titled: "Growth
- ICE 2010 Annual Report Titled "Always Ahead"
- ICE 2009 Annual Report (No title)
- ICE 2008 Annual Report Titled: "Global Markets In Clear View"
- ICE 2007 Annual Report Title: "Open To Change"
- ICE 2006 Annual Report Title: "Never Satisfied"
- ICE 2005 Annual Report
JLN Interviews[edit]
ICE's Hutcheson Talks Benchmarks and Assuming the Helm of ICE Clear Europe
JLN Exchange Leader Series 2017: ICE CEO Jeff Sprecher
Office Locations[edit]
Corporate Headquarters 5660 New Northside Drive NW, 3rd Floor, Atlanta, GA 30328 phone +1 770 857 4700
ICE Futures Europe Headquarters 5th Floor, Milton Gate, 60 Chiswell Street, London EC1Y 4SA phone +44 (0)20 7065 7700
Creditex 6th Floor, Milton Gate, 60 Chiswell Street, London EC1Y 4SA phone: +44 (0)20 7429 3000
New York
ICE Futures U.S. Headquarters 55 East 52nd Street, 40th Floor, New York, NY 10055 phone +1 212 748 4000
Creditex 55 East 52nd Street, 40th Floor, New York, NY 10055 phone: +1 212 323 8500
Corporate Headquarters & New York Stock Exchange 11 Wall Street, New York, NY 10005 phone: +1 212 656 3000
ICE Data Services 100 Church Street, 11th Floor, New York, NY 10007 phone +1 212 497 3000
ICE Endex Headquarters & ICE Clear Netherlands Atlas Arena Amsterdam Australia Building, 3rd Floor, Hoogoorddreef 7, Amsterdam 1101 BA, Netherlands phone: +31 20 305 5100 I phone: + 31 (0) 20 305 5155
607 8th Avenue S.W. Suite 320, Calgary, Alberta, Canada T2P 0A7 phone +1 403 508 1300
353 North Clark Street, Suite 3100, Chicago, Il 60654 phone +1 312 836 6700
1401 McKinney, Suite 975, Houston, TX 77010 phone +1 713 890 1200
6 Battery Road, #36-01/02/03, Singapore 049909 phone +65 6594 0160
Washington, D.C.
801 Pennsylvania, Ave. NW, Suite 630 , Washington, DC 20004
ICE Futures Canada Headquarters 850A Pembina Highway, Winnipeg, Manitoba, Canada R3M 2M7 phone: +1 204 925 5000
- ↑ ICE At A Glance. ICE.
- ↑ [https: https://ir.theice.com/~/media/Files/I/Ice-IR/annual-reports/2018/2018-annual-report.pdf {{{name}}}]. ICE.
- ↑ CCP Global Members. CCP Global.
- ↑ Architects of the world's markets. ICE.
- ↑ ICE Data. ICE.
- ↑ ICE Data. ICE.
- ↑ Architects of the world's markets. ICE.
- ↑ ICE Form 10-K 2017. ICE.
- ↑ ICE Annual Report page 13. ICE.
- ↑ {{{name}}}. ICE.
- ↑ At a Glance. ICE.
- ↑ Exchange of the year: Intercontinental Exchange. Risk.net.
- ↑ Edwin Marcial: No More Mr. ICE Guy. Waters Technology.
- ↑ "ICE Futures U.S. Board Approves Transition to Fully Electronic Trading for Futures". Reuters.com.
- ↑ Buying the NYSE In One Shot. New York Times.
- ↑ The InterContinental Exchange — the mouse that roared — takes on the Big Board. Platts.
- ↑ CME Group Inc. Completes Acquisition of NYMEX Holdings, Inc., Expands Its Diversified Product Offerings to Include Energy and Metals and Also Announces Preliminary Election Results. CME Group.
- ↑ Carbon Trading Exchanges Acquired by ICE. InvestorPlace.
- ↑ Intercontinental Exchange profit rises. MarketWatch.
- ↑ Our History. Wikinvest.
- ↑ ICE IPO glides right in on higher price. FOW.
- ↑ Futures Past. FOW.
- ↑ ICE 2006 Annual Report. ICE.
- ↑ Press Release. ICE.
- ↑ ICE Announced Management Changes in Creditex CDS Business. ICE.
- ↑ Intercontinental Exchange Announces Agreement for the Sale of the Voice Brokerage Operations of Creditex to Tullett Prebon. ICE.
- ↑ IntercontinentalExchange Completes Acquisition of Creditex Group Inc.. ICE.
- ↑ IntercontinentalExchange, The Clearing Corporation and Nine Major Dealers Announce New Developments in Global CDS Clearing Solution. ICE.
- ↑ IntercontinentalExchange, The Clear Credit. ICE.
- ↑ ICE Clear Europe Sets November 3 for Clearing Transition. ICE.
- ↑ Clearing the Way For European Credit Markets. ICE.
- ↑ NASDAQ OMX Group and IntercontinentalExchange Propose Superior Transaction to Acquire NYSE Euronext for $42.50 Per Share, 19% Premium to Deutsche Boerse Proposal. ICE.
- ↑ Nasdaq, ICE withdraw NYSE bid, cite regulators. Reuters.
- ↑ Deutsche Boerse owners back $9.7 billion NYSE merger. Reuters.
- ↑ Deutsche Boerse-NYSE Euronext Takeover Is Blocked by EU. Reuters.
- ↑ Intercontinental Exchange Completes First Phase of Liffe Transition to ICE Platform; Liffe US Interest Rates Successfully Transitioned. ICE.
- ↑ ICE Plans New Holding Company in NYSE Deal; To Keep Ticker Symbol. The Wall Street Journal.
- ↑ Intercontinental Exchange Announces Timeline for Completing Acquisition of NYSE Euronext. MarketWatch.
- ↑ NYSE CEO Niederauer Resigns. Wall Street Journal.
- ↑ ICE seals $10bn takeover with plan to float Euronext. The Financial Times.
- ↑ ICE seals $10bn takeover with plan to float Euronext. The Financial Times.
- ↑ ICE takes stake as Europe's APX-Endex exchange splits power, gas. Platts.
- ↑ and Brazilian Partnership Announce BRIX, Brazil's Electric Power Marketplace; June Launch Planned {{{name}}}. ICE.
- ↑ Intercontinental Exchange Announces Strategic Investment with 12.4% Stake in Cetip S.A., Brazil's Leading Clearing House. ICE.
- ↑ About. SuperDerivatives.
- ↑ ICE looks to crack financial data market. FT.
- ↑ ICE to Acquire SuperDerivatives for About $350 Million. WSJ.
- ↑ ICE to Acquire IDC for $5.2 Billion, Expanding in Data Services. Bloomberg.
- ↑ Intercontinental Exchange to Acquire Interactive Data Corporation from Silver Lake and Warburg Pincus in $5.2 Billion Cash and Stock Transaction. Press Release.
- ↑ Intercontinental Exchange completes acquisition of Interactive Data Corporation. Press Release.
- ↑ ICE approved as benchmark administrator by FCA. The Trade News.
- ↑ ICE Futures Singapore Launches with Commodity and FX Contracts Serving Asian Markets. Press Release.
- ↑ Intercontinental Exchange Completed Purchase of Holland Clearing House. Intercontinental Exchange.
- ↑ Holland Clearing House Renamed ICE Clear Netherlands. Intercontinental Exchange.
- ↑ ICE beats Chicago rival with deal for energy platform. FT.
- ↑ ICE Agrees to Acquire BGC's Trayport for $650 Million. Reuters.
- ↑ Intercontinental Exchange Completes Acquisition of Trayport. Intercontinental Exchange.
- ↑ ICE Buys Trayport for European OTC Energy Market Exposure. Nasdaq.
- ↑ UK court upholds ICE Trayport sale order. The Financial Times.
- ↑ Intercontinental Exchange Announces Sale of Trayport to TMX Group in Exchange for £350MM Cash and NGX and Shorcan Energy. ICE.
- ↑ Intercontinental Exchange Completes Sale of Trayport to TMX Group, Acquisition of NGX and Shorcan Energy. ICE.
- ↑ Intercontinental Exchange Successfully Launches ICE Swap Trade. Intercontinental Exchange.
- ↑ CFTC Approves Registration to 18 Swap Execution Facilities. Katten Muchin Rosemann.
- ↑ Consolidates liquidity across credit derivatives and extends established electronic trading protocols to the entire CDS market. ICE.
- ↑ NYSE MKT stock exchange to end floor trading -regulatory filing. Reuters.
- ↑ NYSE MKT's Floor Trading Shuts Down in Q2 2017, Marking End of Pits Era. Finance Magnates.
- ↑ NYSE Pillar. ICE/NYSE Group.
- ↑ Nyse National electronic stock exchange to launch 30 April. Press Release.
- ↑ NYSE to begin trading on new electronic equities exchange in Apri. The Trade.
- ↑ Intercontinental Exchange Finalizes Acquisition of Chicago Stock Exchange. ICE.
- ↑ Intercontinental Exchange Agrees to Acquire Chicago Stock Exchange. ICE.
- ↑ NYSE parent ICE to acquire Chicago Stock Exchange. Marketwatch.
- ↑ Intercontinental Exchange Announces Agreement to Acquire Virtu BondPoint. ICE.
- ↑ Intercontinental Exchange Agrees to Acquire TMC Bonds. ICE.
- ↑ Intercontinental Exchange Announces Bakkt, a Global Platform and Ecosystem for Digital Assets. ICE.
- ↑ Intercontinental Exchange Announces the Launch of ICE Bonds. ICE.
- ↑ ICE Bonds Receives Approval for Expansion in Canada. ICE.
- ↑ NYSE Owner Bets on Mortgage Digitization. The Wall Street Journal.
- ↑ Intercontinental Exchange Announces Agreement to Acquire Simplifile LC. Press Release.
- ↑ ICE to acquire fixed income indices from BAML. The Trade News.
- ↑ ICE expands data business by buying MOVE indices. The Financial Times.
- ↑ Intercontinental Exchange Completes Acquisition of the Merrill Lynch Option Volatility Estimate (MOVE) Index from Bank of America Merrill Lynch. ICE.
- ↑ ICE Launches Exchange in Abu Dhabi. MarketsMedia.
- ↑ ICE to launch Murban futures contract on new Abu Dhabi exchange. S&P Global Platts.
- ↑ Oil majors partner in new exchange listing ADNOC's Murban crude: ICE. Reuters.
- ↑ "ICE makes some moves to Chicago". charlotte.bizjournals.com/.
- ↑ A History of Transparent Markets. ICE.
- ↑ ICE Futures Singapore Launches with Commodity and FX Contracts Serving Asian Markets. Press Release.
- ↑ ICE seals $10bn takeover with plan to float Euronext. The Financial Times.
- ↑ ICE takes stake as Europe's APX-Endex exchange splits power, gas. Platts.
- ↑ NYSE Plunges Into Bonds. Forbes.
- ↑ NYSE Amex Options. NYSE Alternext U.S..
- ↑ About Creditex. ICE.
- ↑ ICE and Blockstream Launch Crypto Consolidated Feed. Traders Magazine.
- ↑ SEC Form 10-K for December 2013. IDG.
- ↑ The Futures of Data. ICE.
- ↑ SEC Form 10-K for December 2013. IDG.
- ↑ ICE Quarterly Results Q4 2015 (page 16). ICE Form 10-K.
- ↑ Trade Vault. ICE.
- ↑ ICE Link. ICE.
- ↑ ICE pledges to implement market-based swaps benchmark. The Trade News.
- ↑ ICE Data Services rolls out historical tick data platform. The Trade News.
- ↑ Press Release. WCE.
- ↑ ICE to buy Winnipeg exchange for C$40 mln. Reuters.
- ↑ Press Release. Intercontinental Exchange.
- ↑ ICE Chat. Intercontinental Exchange.
- ↑ Press Release. ICE.
- ↑ ICE Clear Europe. Intercontinental Exchange.
- ↑ Press Release. ICE.
- ↑ ICE in takeover of Clearing Corporation. Financical Times.
- ↑ ICE buys Climate Exchange for 395 mln stg. Reuters.
- ↑ Intercontinental Exchange Announces Strategic Investment with 12.4% Stake in Cetip S.A., Brazil's Leading Clearing House. ICE.
- ↑ Intercontinental Exchange Acquires WhenTech. ICE.
- ↑ ICE Acquires Remaining Stake in ICE Endex. ICE.
- ↑ Exchange-Completes-Acquisition-of-NYSE-Euronext/default.aspx Intercontinental Exchange Completes Acquisition of NYSE Euronext. ICE.
- ↑ ICE to Buy NYSE for $8.2 Billion, Ending Era of Independence. CNBC.
- ↑ Ten Questions Raised by ICE-NYSE Merger. Wall Street Journal.
- ↑ Intercontinental Exchange to Acquire NYSE Euronext For $33.12 Per Share in Stock and Cash, Creating Premier Global Market Operator. NYSE Euronext.
- ↑ Euronext Detaches From ICE Through $1.2 Billion IPO. Bloomberg.
- ↑ Euronext IPO priced at €20 per share. ICE.
- ↑ Intercontinental Exchange to Spin Off Euronext. The New York Times.
- ↑ ICE Plans Euronext IPO Before Summer After Partial Sale. Bloomberg.
- ↑ 8 core investors back Euronext listing. Business World.
- ↑ Exchange-to-Acquire-Singapore-Mercantile-Exchange-Broadens-Exchange-and-Clearing-Operations-to-Asian-Markets-and-Customers/default.aspx Intercontinental Exchange to Acquire Singapore Mercantile Exchange; Broadens Exchange and Clearing Operations to Asian Markets and Customers. ICE.
- ↑ ICE secures foothold in growing Asian derivatives market. The Financial Times.
- ↑ ICE completes acquisition of Singapore Mercantile Exchange. Finextra.
- ↑ Report: ICE Buys Algo Technologies to Speed Up New York Stock Exchange. FOX News.
- ↑ ICE patents automated trading technology. The Trade News.
- ↑ Intercontinental Exchange Acquires Trading Technology Patents. The Wall Street Journal.
- ↑ Intercontinental Exchange Completes Acquisition of SuperDerivatives. ICE.
- ↑ ICE looks to crack financial data market. The Financial Times.
- ↑ NYSE Acquires True Office, Developer of Interactive Game-Style Training. Forbes.
- ↑ Intercontinental Exchange to Acquire Majority Stake in Holland Clearing House. ICE.
- ↑ Intercontinental Exchange Completes Acquisition of Majority Stake in Holland Clearing House. ICE.
- ↑ Intercontinental Exchange Completes Sale of Wombat Financial Software to SR Labs. Intercontinental Exchange.
- ↑ Intercontinental Exchange Completes Acquisition of Trayport. ICE.
- ↑ ICE beats CME to Trayport with $650m deal. The Financial Times.
- ↑ UK court upholds ICE Trayport sale order. The Financial Times.
- ↑ Intercontinental Exchange Announces Sale of Trayport to TMX Group in Exchange for £350MM Cash and NGX and Shorcan Energy. ICE.
- ↑ Canada's TMX buys ICE's Trayport energy trading platform. Reuters.
- ↑ ICE to Acquire IDC for $5.2 Billion, Expanding in Data Services. Bloomberg.
- ↑ Intercontinental Exchange completes acquisition of Interactive Data Corporation. ICE.
- ↑ Intercontinental Exchange buying 2 smaller S&P market data units. CNBC.
- ↑ Intercontinental Exchange 2016 Annual Report page 6. ICE.
- ↑ NYSE Finalizes Acquisition of National Stock Exchange. ICE.
- ↑ Intercontinental Exchange Completes Acquisition of TMX Group's Atrium. ICE.
- ↑ Intercontinental Exchange Agrees to Acquire Chicago Stock Exchange. ICE.
- ↑ NYSE parent ICE to acquire Chicago Stock Exchange. Marketwatch.
- ↑ Intercontinental Exchange Agrees to Acquire TMC Bonds. ICE.
- ↑ NYSE Owner Bets on Mortgage Digitization. The Wall Street Journal.
- ↑ ICE to acquire fixed income indices from BAML. The Trade News.
- ↑ ICE expands data business by buying MOVE indices. The Financial Times.
- ↑ Intercontinental Exchange Completes Acquisition of the Merrill Lynch Option Volatility Estimate (MOVE) Index from Bank of America Merrill Lynch. ICE.
- ↑ Intercontinental Exchange Completes Acquisition of Ellie Mae from Thoma Bravo. ICE.
- ↑ Press Release. ICE.
- ICE Web site: www.theice.com
- Creditex web site: www.creditex.com


text:
Dear readers, I would never steer you towards bad food. I will admit, however, that some of my recipes happen to be a little better than others. The difference between "great" and "fan-freakin-tastic!" if you will. This recipe is FAN-FREAKIN-TASTIC.
I had some leftover challah and I wanted to create a jazzed-up french toast recipe.
After a little bit of thought, I decided to incorporate raspberries, strawberries, cinnamon, brown sugar, almond extract and corn flakes. Sound a little odd? Don't worry—I have a very specific plan in mind. Stay with me people …
Cinnamon-Sugar Crunch French Toast with Raspberry and Strawberry Syrup
You'll need:
3, 1-and-1/2-inch thick slices of old challah, cut in half
5 eggs
1/2 cup milk
4 1/2 tablespoons cinnamon, divided
2/3 cup brown sugar
1 3/4 cup corn flakes, slightly crushed
2 1/2 tablespoons butter, softened
1 teaspoon almond or vanilla extract
Raspberry/Strawberry Syrup
1 cup mix of strawberries and raspberries
2 1/2 to 4 tablespoons sugar (add a tablespoonful at a time and taste—sweeten as desired)
First make the syrup—puree the fruits and sugar with a blender or food processor (take the stems of the strawberries. Sorry if that's ridiculously obvious, but I can't assume anything) and set it aside or throw it in the fridge until you plan to cook. Whisk the eggs, milk, almond/vanilla extract and one tablespoon of cinnamon in a shallow dish until thoroughly mixed.
Now mix the crushed corn flakes, softened butter, brown sugar and the rest of the cinnamon together to form a moist, crumbly topping.
Dip each challah slice in the egg mixture and then coat with the brown sugar mixture. I patted each side of the bread with a generous amount of the mixture and then put it directly in the pan to help the topping adhere better.
Cook in a skillet on medium-high heat for about a minute or two on each side. Use the spatula to lightly press down on the french toast.
If all goes according to plan, you should end up with a PERFECT piece of french toast. Not too eggy. Not soggy, yet perfectly soft and tender on the inside. A crunchy, toffee-like, sweet-but-not-too-sweet crust. Then comes the fruit syrup and you've officially died and gone to heaven.
What?? I told you this post was a boast.
I'm dying to hear if you all like this stuff as much as I do (Dave isn't a very objective critic), so do yourself a favor: make this tomorrow and come back and rave about it in the comments section.
You'll thank me later.


text:
SBE Adopts Resolution Supporting Inclusion of Students in Anti-Bullying Policy Development
Release Date:
Vancouver, Wash. – The Washington State Board of Education (SBE) unanimously voted to adopt an anti-bullying resolution affirming the board's commitment to strongly support the inclusion of students in the development of anti-bullying policies within school communities.
At the September board meeting, Kajmere Houchins, a student at Illahee Middle School in Federal Way, brought the issue of bullying to the board's attention. She spoke about her experience being bullied and shared a petition she wrote to require schools to allow youth to participate in anti-bullying policymaking.
In October, SBE's student board members, Mara Childs and Eli Ulmer, wrote a blog post on their experiences and observations about bullying for National Bullying Prevention Month.
"Bullying doesn't affect just the bully and their target, there are also others around them who witness the aggression," Ulmer explained. "It affects everyone and can cause attendance issues, is a distraction, creates stress and anxiety, and makes you feel alone."
At today's meeting, Childs and Ulmer gave a presentation to the board about causes of bullying, how it affects learning, cyberbullying, and how students can be involved in solutions.
"The ways in which kids interact with each other are changing quickly and it is hard for adults to keep up," said Childs. "Anonymous question sites, social media, texts, and instant messages are a recipe for bullying. Kids are ahead of the game when it comes to technology and they hold the most weight in changing student behavior."
Childs, with Houchins by her side, read the anti-bullying resolution her and Ulmer drafted, and the board unanimously voted to adopt it.
Following a round of applause, Houchins thanked the board. "My goal has always been to advocate for the missing youth voice in regards to school policymaking. I want to thank Mara and Eli for their presentation and for all of their hard work. I appreciate the work all of you have done to make Washington schools safe and inclusive to students."
RCW 28A.300.285(3) states that district anti-bullying "policy and procedure should be adopted or amended through a process that includes representation of parents or guardians, school employees, volunteers, students, administrators, and community representatives."
Student board member Mara Childs with Kajmere Houchins
Contact: Sarah Lane, SBE Communications Manager, (360) 725-6501
About the State Board of Education: The State Board of Education provides advocacy and strategic oversight of public education. The board is comprised of 16 members: five are elected by school board directors, seven are appointed by the Governor, two serve as student representatives, and one serves as a private school representative. The Superintendent of Public Instruction is also a member.
Media Contact:
Alissa Muller, SBE Communications Manager, (360) 725-6501