ICE announced acquisition of Trayport from BGC Partners and GFI
Intercontinental Exchange (NYSE: ICE), the leading global network of exchanges and clearing houses, announced it has completed its acquisition of Trayport from BGC Partners and GFI for approximately $650 million, comprising approximately 2.5 million ICE common shares.
The transaction was announced on November 16, 2015, and will help ICE provide new services to the European over-the-counter (OTC) energy markets.
“We will continue to invest in the Trayport platform, maintaining and enhancing its current model to serve the European OTC markets by facilitating the interaction of brokers, utilities and end users, clearing houses and other market participants,” said ICE Chairman and CEO Jeffrey C. Sprecher. “As the European energy markets evolve, we look forward to supporting and developing Trayport’s market leading technology to assist the management of price risks in a liquid, broker-centric marketplace.”
As part of ICE, Trayport will continue to be based in London operating as currently to serve the needs of the energy markets with its existing technology platform and services.
Source: ICE – Intercontinental Exchange completes acquisition of Trayport
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