The Intercontinental Exchange (ICE) is pushing back on the provisional findings from the UK’s Competition and Markets Authority’s (CMA) in-depth investigation showing that ICE’s $650 million acquisition of London-based Trayport, a trading software provider, could reduce competition. According to Simon Polito, chair of the CMA’s inquiry, “We examined the merger’s competition risks and given the… Read More >>
NYSE, Nasdaq & Bats Join Forces on Volatility Rules
Bats Global Markets (Bats), the Nasdaq Stock Market and the New York Stock Exchange (NYSE), a subsidiary of Intercontinental Exchange, have been working together for about a year on a way to harmonize key functions of U.S equity markets to “increase resiliency during times of extreme volatility,” confirm officials from all three exchanges. “In the… Read More >>
Brexit Could Put U.K. Clearinghouses in Limbo
The Brexit wars are heating up in the U.K. as the European Referendum draws closer but it is still too early to call the outcome. In the meantime, President Obama lent support to the remain or stay-in campaign during his recent visit to the U.K. But the leave party is doing its level best to… Read More >>
ICE Issues Roadmap for Libor Reform
Intercontinental Exchange (ICE), an operator of stock exchanges and clearinghouses, including the New York Stock Exchange, reports that its ICE benchmark administration (IBA) has published a roadmap for the evolution of ICE Libor, formerly the BBA’s (British Bankers’ Association) Libor. Libor is, of course, the London interbank offered rate, a measure of major London banks’… Read More >>
CME May Spur Bidding War for the LSE
There is a sense of déjà vu in the air with talk of a $28 billion merger between Deutsche Börse and the London Stock Exchange Group (LSEG). The two have been circling around each other for years but as in the past, rival exchanges may try and break the bond. This time around the Intercontinental… Read More >>
ICE Promotes to Fill Senior Management Posts
ICE Promotes Senior Managers Intercontinental Exchange, Inc. (ICE), the operator of clearinghouses, data services and such exchanges as the New York Stock Exchange, reports the following senior management moves: Ben Jackson, president and chief operating officer (COO) of ICE Futures U.S., has been named to the newly created post of ICE chief commercial officer, where… Read More >>
EBS Direct Uses FIX 4.4 for Application Links
EBS Direct to Use FIX 4.4 API EBS BrokerTec, the electronic foreign exchange (FX) and fixed income business group of interdealer broker ICAP, reports that end-users can connect to its FX platform — EBS Direct via a FIX version 4.4 application programming interface (API). The Financial Information eXchange (FIX) protocol for electronic trading is overseen… Read More >>
BGC Partners Sells Trayport to ICE
Intercontinental Exchange (ICE), the exchanges and clearinghouses network that includes the New York Stock Exchange, reports entering into a definitive agreement to acquire London-based vendor Trayport for $650 million in ICE common stock, representing approximately 2.5 million shares. Trayport, which licenses its technology platform to brokers for electronic and hybrid trade execution, primarily in the European over-the-counter… Read More >>
ICE to Buy Interactive Data for $5.2 Billion
Intercontinental Exchange (ICE), the owner of the New York Stock Exchange (NYSE), has entered into a definitive agreement to acquire market data and systems vendor Interactive Data Corp. for $5.2 billion in the hope that the combined company will be able to offer efficient data access via an integrated platform for analysis, valuation and connectivity… Read More >>
Nasdaq Futures to Use OptionsCity Settlement Solution
For its derivatives contracts, upstart energy futures market Nasdaq Futures (NFX) will be using a settlement price solution from OptionsCity Software, a futures and options trading and analytics solutions vendor, officials say. The relatively new Nasdaq OMX Group market competes against CME Group and the Intercontinental Exchange. “As NFX continues to grow, it’s important that… Read More >>
