Intercontinental Exchange (ICE) plans to expand its market data, risk management and clearing operations through the acquisition of SuperDerivatives. The acquisition will be made through an all-cash transaction that puts a price tag of about $350 million on SuperDerivatives and is expected to close in the fourth quarter of 2014. The acquisition of SuperDerivatives follows the June sale by ICE of a number of non-exchange related NYSE Technologies’ businesses, including NYFIX, Wombat Financial Software and SuperFeed, that were acquired by the company as part of its acquisition of NYSE Euronext in November 2013. ICE retained NYSE Technologies’ SFTI network and its US and UK data centres.
Commenting on the agreement to acquire SuperDerivatives, ICE chairman and CEO Jeffrey Sprecher says: “SuperDerivatives is an innovative developer of valuable derivates data and technology, and will play a key role in extending our financial market clearing and data capabilities. We already work with the company in our existing businesses and we look forward to extending that work with the global SuperDerivatives team as we grow our risk management services across our global exchanges and clearing houses.”
Founded in 2000 by chairman and CEO David Gershon, SuperDerivatives provides cloud-based market data, derivatives trading technology and analytics to a customer base spanning banks, asset managers, corporations and brokers. Its key products and services include the DGX web-based platform that delivers real-time analytics, data, news and multi-participant chat, an independent valuation service, market data for mark-to-market, multi-asset derivatives front office and risk systems, and a multi-asset OTC execution platform.
As well as additional products and services, the acquisition will give ICE access to over 300 SuperDerivatives employees and the company’s 12 global offices.