ICE Sale of NYSE Technologies Spurs Executive Shuffle
NYSE Technologies has a new, temporary president, Benjamin R. Jackson, as its new owner, IntercontinentalExchange Group (ICE), plans to sell off key businesses of the unit as a result of its acquisition of NYSE Euronext.ICE has put up for sale key NYSE Technologies components as the NYFIX network, the Appia messaging technology group, the Wombat market data software group, and the SuperFeed data dissemination business, confirms Jeffrey C. Sprecher, chairman and CEO of ICE. He provided details about the dismantling of the business unit in a talk with financial analysts on Nov. 19. ICE acquired NYSE Euronext in mid-November.
When ICE finalized its acquisition of NYSE Euronext, it clarified its management team and appointed Jackson as interim president of NYSE Technologies. Sprecher confirms that Jackson, the current president and chief operating officer of ICE Futures U.S., will oversee the sale of the NYSE Technologies units and the incorporation of the components that ICE will keep.
As a result of the acquisition, though, Jon Robson is longer CEO of NYSE Technologies, a post
Jon Robson,
former CEO,
NYSE Technologies
that he took on last year. Robson was based in New York and reported to Dominique Cerutti, the former president and deputy CEO of NYSE Euronext; under ICE, Cerutti will serve as CEO of Euronext.
Robson joined NYSE Technologies from Thomson Reuters, where he served as president of the Enterprise Division. ICE officials declined comment on Robson’s whereabouts.
ICE intends to retain NYSE Euronext’s data centers in the U.S. and the U.K. as ICE has determined that it is more cost-effective to maintain these facilities than sell them, Sprecher says. ICE will also keep NYSE’s SFTI network.
“[But] we’ve come to the conclusion that the best way to grow these assets is to find a new home for them,” Sprecher says. “This includes the buy-side/sell-side network known as NYFIX, the fixed messaging technology known as Appia, the data software business of Wombat, and the data dissemination business known as SuperFeed, plus a handful of other small businesses.”
The NYSE Technologies units represent “saleable businesses” with “an approximate $120 million revenue base and 17% EBITDA margins in 2014,” Sprecher says. Ben Jackson is overseeing the integration efforts of the NYSE Technologies businesses that ICE is keeping, and he will oversee the sales of “the identified assets in the coming months while he also remains the head of ICE Futures U.S.,” he adds.
While it is selling off NYSE Technologies, ICE will be acquiring the Singapore Mercantile Exchange (SMX) in an all-cash transaction, ICE officials say. The agreement specifies that ICE will acquire 100% of SMX, including the SMX Clearing Corp., a wholly owned subsidiary of SMX and the clearing house for all SMX trades.
ICE expects the transaction to close by the end of this year, after regulatory and board approvals. “This transaction is part of our strategy to operate clearing houses and exchanges in each major region of the world in which our customers operate,” Sprecher says.
CME Sells NYMEX Building for $200 Million
Derivatives exchange company CME Group has sold the 15-story, 500,000 square-foot NYMEX building at World Financial Center, One North End Avenue to Brookfield Office Properties for $200 million, say CME Group officials.
In addition, Brookfield will lease back to the CME Group the lower 222,000 square-feet of space in the building for a 15-year term, including the NYMEX trading floor as well as office and trading floor support space, say officials.
“CME Group remains committed to our floor based membership and open outcry trading services in New York, which continue to serve our customers well,” says Kevin Lennon, managing director, real estate, at CME Group, in a statement.
Liquid Holdings Hires from Butterfield Fulcrum
AR Caputo,
vice president of client relationship management,
Liquid Holdings Group
Liquid Holdings Group, a provider of cloud-based order and execution management platform, has hired AR Caputo, the former director of business development at Butterfield Fulcrum Group, to be its new vice president of client relationship management, say officials.
Prior to joining Liquid Holdings, Caputo held prime services and sales roles at Deutsche Bank, Bear Stearns, and Lehman Brothers. He has also managed clearing and settlement for buy-side giant Citadel, officials say. He will be based in New York City.
Mitsubishi UFJ Trust and Banking Corp. (MUTB) acquired Butterfield Fulcrum Group on September 20, 2013, and the Japanese banking giant has rebranded the Butterfield alternative asset administration platform as Mitsubishi UFJ Fund Services. MUTB officials say the senior management team of Butterfield Fulcrum will remain with the company.
GFI Group Fills Out Board for Mexican Branch
Brokerage GFI Group Inc. has made the following appointments to its board of directors for its affiliate GFI Group Mexico:
- Jonathan Davis Arzac, director;
- Leonel Guarneros Trujillo, director;
- Richard Leighton, director and chairman of the board;
- Guillermo Prieto Treviño, director;
- Manuel Robleda González de Castilla, director;
- Christopher DAntuono, director;
- And Jaime Eduardo Ortiz Pallares, secretary of the board.
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