Sprecher became Chair of the NYSE following ICEs acquisition, overseeing a complete overhaul of the Exchange, serving in that role for eight years through 2021. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. Born and raised in Madison, Wisconsin, educated as a chemical engineer at the University of Wisconsin and an MBA at Pepperdine, Sprecher learned early on in his parents garage how to break down systems to their component parts and rebuild them better, faster, and more resilient. ICE provides transparent markets to invest, manage risk and raise capital across major asset classes. Jeff Sprecher is Founder, Chair and CEO of Intercontinental Exchange, Inc. (NYSE: ICE) and a pioneer of digital networks and the electronification of trading and marketplaces. Prior to joining ICE in 2021, Hindlian was a Partner and Chief Operating Officer of Global Investment Research at Goldman Sachs, where she oversaw a range of business functions, including technology, digital strategy and legal and compliance matters. She previously served as ICEs Head of Asia Pacific where she managed the sales operations and overall business affairs for ICE in the region. While the company's original focus was energy products (crude and refined oil, natural gas, power, and emissions), acquisitions subsequently expanded its activity into soft commodities (sugar, cotton and coffee), foreign exchange and equity index futures. Intercontinental Exchange. The acquisition was reportedly completed on January 2, 2018, as announced by ICE. [41] BondPoint is an integrated, automated platform offering additional fixed income execution services and one of the broadest sets of fixed income instruments. From Wikipedia, the free encyclopedia Intercontinental Exchange, Inc. ( ICE) is an American company formed in 2000 that operates global financial exchanges and clearing houses and provides mortgage technology, data and listing services. That single transaction was for US$1.6m worth . Spencer holds a Juris Doctor from the Duke University School of Law and a Bachelor of Arts degree from the University of North Carolina at Chapel Hill. [14] The documents also showed that the couple purchased stock in Citrix Systems, a company that would potentially benefit from the increase in remote work due to the stay-at-home orders issued to mitigate the COVID-19 pandemic. Approximately 70%-80% of European utility trades flow through its platform. "FILM; Quiet, Unassuming: Like Their Movies", "Anna Plank Obituary (2007) - Ocala, FL - Ocala Star-Banner", "Doug Moe: No more anonymity for Jeff Sprecher after NYSE purchase: Wsj", "Jeffrey Sprecher's Improbable Path to Buying the N.Y.S.E. Jeffrey Sprecher - Wikipedia "[7], The principal backers for ICE US Trust were the same financial institutions most affected by the crisis, the top nine of the world's largest banks (Goldman Sachs, Bank of America, Citi, Credit Suisse, Deutsche Bank, JPMorgan, Merrill Lynch, Morgan Stanley and UBS). It was founded in May 2000 in Atlanta, Georgia. The stock outperformed . Language links are at the top of the page across from the title. Now, ICE is expanding our global network footprint in Asia. Before joining ICE in 2006, Kapani was Vice President of Options Development at the Philadelphia Stock Exchange, where he focused on the development of several initiatives including the transition of trading from a floor-based model to a high performance electronic platform. The Intercontinental Exchange (ICE) is an American company that owns and operates financial and commodity marketplaces and exchanges. Also known as ICE, this Atlanta-based company owns exchanges for financial and commodity markets, including the New York Stock Exchange. The deal, following ICE's taking a majority stake in MERS in 2016, purchasing the remainder in 2018, and acquiring Simplifile in 2019, made ICE and its growing ICE Mortgage Technology a leading provider of end-to-end electronic workflow solutions[buzzword] for the U.S. residential mortgage industry. Similarly, Sprechers launch of Bakkt in 2018 foresaw expanded adoption of bitcoin and digital assets. His sisters are the filmmakers Karen and Jill Sprecher. The acquisition was valued at approximately $5.2 billion, including $3.65 billion in cash and $1.55 billion in ICE common stock, and builds on ICE's global market data growth strategy by expanding the markets served, adding technology platforms and increasing new data and valuation services. Intercontinental Exchange has had a policy to grow through the acquisition of other exchanges, a number of these have been successful while others have failed due to concerns by regulators or others that the new company would have created a monopoly situation. The proprietary real-time data, valuations, analytics, reference data, evaluated pricing, and connectivity solutions employed by ICE Data Services are used by NYSE, SuperDerivatives, Interactive Data (IDC), and other ICE customers, including financial institutions, asset managers, and individual investors. Rowes career in financial services began in 2007 where she played a key role as Program Manager of the integration of BNP Paribas and Fortis in the UK. As our electronic markets and demand for clearing grew, access to new sources of information became central to our customers and data has increasingly become the lifeblood of markets. . Intercontinental Exchange and its Board of Directors have established Audit, Compensation, Risk, and Nominating & Corporate Governance committees, each of which is comprised solely of independent directors as set forth below: Please refer to the Governance Overview page for committee charter documents. ", Intercontinental Exchange. You must click the activation link in order to complete your subscription. Thomas' experience gives him expertise in a variety of areas including investments, retirement, insurance, and financial planning. In 2014, ICE spun off Euronext, keeping NYSE and LIFFE, renaming it ICE Futures Europe.[29]. Prentice offered him a job at Western Power Group in 1983. The offers that appear in this table are from partnerships from which Investopedia receives compensation. ICE's ECX products comply with the requirements of the European Union Emission Trading Scheme. It's a post that provided him with a massive amount of equity in the companyhis stock . David Underwood is Chief Audit Executive of Intercontinental Exchange, Inc. (NYSE: ICE). "Clear Credit. However, there is more to the company's business than the NYSE. Our business is built around the recognition that the needs of our customers should come first. Between 2019 and 2021, Rhodes was Chief Risk Officer at financial trading firm Tyler Capital. "Winnipeg Commodity Exchange to Become ICE Futures Canada. Who Owns Intercontinental Exchange, Inc. (ICE) Intercontinental Exchange, Inc. (ICE) is a publicly traded company, which means it is owned by its shareholders. Finance. Doug Foley is Senior Vice President of HR & Administration at Intercontinental Exchange, Inc. (NYSE: ICE). [32], In December 2015, ICE acquired Trayport for $650 million from GFI Group. ICE Futures Europe is the leading market for carbon dioxide (CO2) emissions. Edmonds earned a Bachelor of Arts degree in Political Science from the University of Alabama at Birmingham. In addition to other duties, Foley has overall responsibility for ICEs global human resource and real estate functions. He was also a trial attorney in the Division of Enforcement and an attorney in the Division of Clearing and Intermediary Oversight. This compensation may impact how and where listings appear. The Intercontinental Exchange (ICE) is an American company that owns and operates financial and commodity marketplaces and exchanges. The Intercontinental Exchange (ICE) is an American company that owns and operates financial and commodity marketplaces and exchanges. [14][15], On March 20, 2020, the consumer advocacy group Common Cause filed complaints against Sprecher and Loeffler with the Securities and Exchange Commission, the United States Senate Ethics Committee, and the United States Justice Department, requesting from the latter a criminal investigation of the couple for violations of the STOCK Act. Gardiner brings over 15 years of financial analysis and research experience. Find the latest Intercontinental Exchange, Inc. (ICE) stock quote, history, news and other vital information to help you with your stock trading and investing. Furthermore, in August 2019, it announced it had entered into an agreement to acquire a family of fixed income volatility indices, including the prominent Merrill Lynch Option Volatility Estimate (MOVE) family of indices. The new exchange increased price transparency, efficiency, liquidity, and had lower costs than manual trading. His professional career prior to APB Energy focused on advising businesses on strategic planning in the areas of technology, sales and marketing and operations. Ahead of EU sanctions preventing EU delivery of Russian oil, ICE announces . NYSE Group includes the New York Stock Exchange, the world's largest stock market and premier venue for capital raising, as well as four fully electronic equity markets and two options exchanges. Intercontinental Exchange - Governance - Board of Directors & Committee Underwood began his career in public accounting at Ernst & Young, LLP serving primarily real estate and manufacturing clients in Birmingham, Alabama. Exchanges and mortgages Intercontinental Exchange has its roots in securities trading; however, it has been building a mortgage business over the past few years. ICE will pay $335 million to acquire Simplifile, which is based in Provo, Utah and has no debt. The price and terms of the transaction were not disclosed and will not be material to ICE's earnings or have an impact on capital return plans.[44]. ICE has offices in Atlanta, New York, London, Chicago, Bedford, Houston, Winnipeg, Amsterdam, Calgary, Washington, D.C., San Francisco, Tel Aviv, Rome, Hyderabad, Singapore and Melbourne. Add alert for ICE Ticker: ICE CUSIP Number: 45866f104 Tip: Access positions for across all investors ICE also operates six central clearing houses: ICE Clear Europe, ICE Clear U.S., ICE Clear Credit, ICE Clear Netherlands, ICE Clear Singapore, and ICE NGX. "2021 Annual Report," Page 4. Underwood holds a Bachelor of Science degree in Accounting and Real Estate Finance from the University of Alabama-Birmingham. American exchange and clearing house company, Toggle Mergers and acquisitions subsection, 2001: International Petroleum Exchange (IPE), 2007: Chicago Board of Trade - (unsuccessful bid), 2008: TSX Group's Natural Gas Exchange Partnership, 2016: Standard & Poor's Securities Evaluations (SPSE), 2017: BofA Merrill Lynch Global Research Index Platform (BofAML), harv error: no target: CITEREFPopper2013 (, harv error: no target: CITEREFTerhune2010 (, International Swaps and Derivatives Association, Environmental, social, and corporate governance, Securities market participants (United States), "US SEC: Form 10-K Intercontinental Exchange, Inc", "Timeline: Growth of the IntercontinentalExchange", "Energy Market Manipulation and Federal Enforcement Regimes", "A Secretive Banking Elite Rules Trading in Derivatives", "ICE deal signals new clearing house for credit default swaps", "ICE's Jeffrey Sprecher: The Sultan of Swaps", "IntercontinentalExchange and New York Board of Trade Complete Merger", "Upstart ICE to buy Winnipeg exchange in $40 million deal | The Star", "Winnipeg Commodity Exchange rebranded ICE Futures Canada", "Upstart ICE to buy Winnipeg exchange in $40 million deal", "Intercontinental Exchange Announces Acquisition of Credtix Group Inc", "NGX Physical Gas and Power Products Coming to ICE", "ICE cuts staff at Chicago Climate Exchange: sources", "Nasdaq and ICE Hold Talks Over Potential N.Y.S.E. [43], In October 2018, ICE announced that it had acquired the remaining equity of Merscorp Holding, Inc., owner of Mortgage Electronic Registration Systems, Inc. (MERS). For the previous decade, McLaughlin was based in Washington, DC. [16], On March 20, 2020, also reported by CNBC in the same article referenced above, Intercontinental Exchange said in a statement that the nearly 30 transactions involving the couple were in compliance with company policies. In April 2005, the entire ICE portfolio of energy futures became fully electronic and ICE closed International Petroleum Exchange's high profile and historic trading floor.[4]. ", Intercontinental Exchange. Prior to joining ICE, Spencer worked as an attorney at McKenna, Long & Aldridge (now known as Dentons) where she practiced in the corporate law group and focused on public company compliance and corporate governance matters, public offerings and private placements and M&A work. "Our History, An Interview with Jeff Sprecher; Part 2: ICE's Expansion into Clearing. A rating of 100 puts Intercontinental Exchange Inc ( ICE) near the top of the Financial Data & Stock Exchanges industry according to InvestorsObserver. [34] ICE challenged the decision in the Competition Appeal Tribunal (CAT), but the CAT upheld the CMA's decision. NYSE Group includes the New York Stock Exchange, the worlds largest stock market and premier venue for capital raising, as well as four fully electronic equity markets and two options exchanges. In April 2010, ICE acquired Climate Exchange PLC for 395 million pounds ($622 million) and European Climate Exchange (ECX) as part of its purchase. Jennifer Ilkiw is President of ICE Futures U.S., a regulated futures exchange and a subsidiary of Intercontinental Exchange, Inc. (NYSE: ICE). Intercontinental Exchange - Governance - Executive Management Team Amanda Hindlian is President of Fixed Income & Data Services at Intercontinental Exchange, Inc. (NYSE: ICE). Intercontinental Exchange Inc also received an overall rating of 73, putting it above 73% . [8], The Energy Policy Act of 1992 passed and deregulation in the electric industry began. Jackson previously served as Chief Commercial Officer for Intercontinental Exchange, and prior to that President and Chief Operating Officer of ICE Futures U.S. Jackson joined ICE in July 2011 from SunGard, a leading software and technology provider to commodity market participants. Hindlian began her career at Goldman Sachs as an Equity Research analyst in the Technology sector. Lynn Martin is President of NYSE Group, a wholly-owned subsidiary of Intercontinental Exchange, Inc. (NYSE: ICE). ", Intercontinental Exchange. Rhodes holds a first-class honours degree in Economics from the University of Hertfordshire. Rowe holds a Bachelor of Arts in Economics and Politics from the University of Essex. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. She oversees all technology, operations and financial functions at the London-based clearing house. Prior to IDCG, Edmonds was the Chief Development Officer for ICAP Energy. Lynn Martin is President of NYSE Group, a wholly-owned subsidiary of Intercontinental Exchange, Inc. (NYSE: ICE). From its humble beginnings, a string of innovations and acquisitions quickly followed, beginning with buying the International Petroleum Exchange in 2001, the New York Board of Trade in 2007, Creditex in 2008, the Clearing Corporation in 2009 the Climate Exchange in 2010 and the NYSE itself in 2013. Intercontinental Exchange. [47], On December 9, 2021, ICE acquired risQ, a geospatial and climate data modeling start-up company, after announcing partnerships with the company to develop climate risk and ESG analytics models for municipal bond markets in January 2020 and mortgage-backed securities markets in March 2021. Hester Serafini is President of ICE Clear Europe, a wholly-owned clearing house of Intercontinental Exchange, Inc. (NYSE: ICE). [35] As a result, ICE sold Trayport to TMX Group in October 2017, in exchange for certain TMX Group assets and cash of 350 million. Were in the process of digitizing the entire mortgage process to reduce costs and increase efficiencies every step of the way. from the University of Pennsylvania, and an A.B. Williams is also responsible for the customer service teams and oversees all disaster recovery and business continuity planning and operations. In 2004, the Winnipeg Commodity Exchange had "closed its open-outcry trading floor" becoming "the first North American agricultural futures exchange to trade exclusively on an electronic platform" by trading via the "Chicago Board of Trade's electronic platform, and [using] clearing services from the Kansas City Board of Trade. subscribe to Premium to read more. Most recently, McClear served as the Corporate Risk Officer for Intercontinental Exchange. She spent five years in the US House of Representatives Financial Services Committee communications office and five years at the US Treasury Department, including as the Deputy Assistant Secretary for Public Affairs under US Treasury Secretary Henry M. Paulson. In October 2015, ICE announced that it had entered into a definitive agreement to acquire Interactive Data Corporation (IDC), a provider of financial market data, analytics, from Silver Lake, involved in technology investing, and Warburg Pincus, a private equity firm focused on growth investing. Since 2003, ICE has partnered with the Chicago Climate Exchange (CCX) to host its electronic marketplaces. An interview series with Jeff Sprecher, Founder, Chairman & CEO, Intercontinental Exchange. Vice President, Associate General Counsel & Corporate Secretary, Chief Audit Executive, Intercontinental Exchange, Board of Directors & Committee Composition. McLaughlin holds a Bachelor of Arts in journalism and political science from Drake University. Though the company is probably best known for its ownership of the New . In December 2012, ICE announced it would buy NYSE Euronext (this time without the involvement of Nasdaq) for $8.2 billion, pending regulatory approval. In the absence of a central counterparty which would guarantee pay-outs should a trading party be unable to do so there was a high risk of massive market disruption. ICE had owned a majority equity interest in MERS since 2016. Sprecher began on a shoestring by spotting inefficiencies in the power market and resolving to fix them. [42], In May 2018, ICE announced that it had entered into an agreement to acquire TMC Bonds LLC for $685 million in cash. He was the architect of OCCs risk management approach known as System for Theoretical Analysis and Numerical Simulations (STANS).

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