Chicago board of options virtual trading

Chicago board of options virtual trading

By: Mail.Brat72 Date of post: 05.06.2017

Intercontinental Exchange is an American business and finance company founded on May 11, by Jeffrey Sprecherheadquartered in Atlanta, Georgia. It owns exchanges for financial and commodity markets, and operates 23 regulated exchanges and marketplaces including: ICE futures exchanges in the United States, Canada and Europe; Liffe futures exchanges in the US and Europe; the New York Stock Exchange ; equity options exchanges; and OTC energy, credit and equity markets.

ICE also owns and operates 6 central clearing houses; ICE Clear Europe, ICE Clear U.

Sprecherfounder, chairman, and Chief Executive Officer, [3] was a power plant developer who spotted a need for a seamless market in natural gas used to power generators. In the late s, Sprecher acquired Continental Power Exchange, Inc. The new exchange offered the trading community better price transparency, more efficiency, greater liquidity and lower costs than manual trading.

Glossary

While the company's original focus was energy products crude and refined oilnatural gaspowerand emissionsacquisitions have expanded its activity into soft commodities sugarcotton and coffeeforeign exchange and equity index futures. In a response to US financial crisis inSprecher formed ICE US Trust based in New York, now called ICE Clear Credit LLC, to serve as a limited-purpose bank, a clearing house for credit default swaps.

chicago board of options virtual trading

Sprecher worked closely with the Federal Reserve to serve as its over-the-counter OTC derivatives clearing house. 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 [7] ".

The principal backers for ICE US Trust were the same financial institutions most affected by the crisis, the top ten of the world's largest banks Goldman Sachs, Bank of America, Citi, Credit Suisse, Deutsche Bank, JPMorgan, Merrill Lynch, Morgan Stanley and UBS. Sprecher's clearing house cleared their global credit default swaps CDS in exchange for sharing profits with these banks.

The 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 major acquisition and attempted acquisitions have included:.

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In JuneICE expanded its business into futures trading by acquiring the London-based International Petroleum Exchange IPEnow ICE Futures Europe, which operated Europe's leading open-outcry energy futures exchange.

SinceICE has partnered with the Chicago Climate Exchange CCX to host its electronic marketplaces. In Aprilthe entire ICE portfolio of energy futures became fully electronic and ICE closed International Petroleum Exchange 's high profile and historic trading floor. ICE became a publicly traded company on November 16,and was added to the Russell Index on June 30, The company expanded rapidly inacquiring the New York Board of Trade NYBOT[11] and ChemConnect a chemical commodity market.

The Winnipeg Commodity Exchange WCE was renamed ICE Futures Canada as of January 1, The Manitoba Securities Commission oversee its operations. In JanuaryBeginners stock trading basic stock terminology partnered with Canada's TSX Group 's Natural Gas Exchange, expanding their offering to clearing and settlement services for physical OTC natural gas contracts.

ICE Futures Chicago board of options virtual trading is the leading market for carbon dioxide CO2 emissions. ICE's ECX products comply with the requirements of the European Union Emission Trading Scheme. Sell stock loss tax implications Februaryin the wake of an announced merger of NYSE Euronext with Deutsche Borsespeculation developed that ICE and Nasdaq could mount a counter-bid of their own for NYSE Euronext.

ICE was thought to be looking to acquire the American exchange's derivatives business, Nasdaq its cash equities business. The Justice Departmentalso in April, "initiated an antitrust review of the proposal, which would have brought nearly all U. In SeptemberICE announced that it had entered into a definitive agreement to acquire SuperDerivatives[25] a leading provider of risk management analytics, financial market data and valuation services.

Completion of the transaction was subject to regulatory approval and other customary closing conditions. The transaction successfully completed on 7 October In OctoberICE announced that it had entered into a definitive agreement to acquire Interactive Data Corporation IDCa leading provider of financial market data, analytics and related trading solutions, from Silver Lake, the global leader in technology investing, and Warburg Pincus, auto trading forex robot leading global private equity firm focused on growth investing.

The transaction successfully completed on December 14, Trayport licenses its technology platform to serve brokers for electronic and hybrid trade execution primarily in the European over-the-counter OTC utility markets. The Competition and Markets Authority CMA subsequently called in the merger for review, and in October announced its decision to require ICE to sell Trayport, having ruled that the merger could lead to a substantial lessening of competition.

Following careful consideration of the CAT's judgment, ICE requested permission from the CAT to appeal to the Court of Appeal. In the interim, Trayport will continue to be operated separately as it is today, and ICE will continue to engage with the CMA on the remitted issues regarding the new agreement between ICE and Trayport.

ICE provides exchange trading and clearing services in a number of different markets. Its main products include:. In Intercontinental Exchange introduced the expanded ICE Data Services, bringing together proprietary exchange data, valuations, analytics, desktop tools and connectivity solutions from across ICE, New York Stock Exchange NYSESuperDerivatives and Interactive Data IDC.

ICE originally formed its ICE Data subsidiary inrecognizing the rising demand for exchange data as markets became increasingly automated. ICE continues to invest in its data services to address evolving customer needs driven by regulatory reform, market fragmentation, passive investing and indexation, along with increased demand for data capacity and security, and independent valuations.

Their customers include global financial institutions, asset managers, commercial hedging firms, risk managers, corporate issuers and individual investors. ICE Data Services has offices in New YorkChicagoBedford MALondonDublinTel AvivHong KongSingaporeTokyo and Melbourne.

From Wikipedia, the free encyclopedia. Growth of the IntercontinentalExchange". Retrieved 4 August Its growth from a small energy exchange since the early s has been influential in the evolution of the derivatives markets since then, paralleling the rise of commodities as a mainstream asset class, the consolidation of the exchange industry, the disappearance of the floor trader with the move to all-electronic trading platforms and the growth of swaps clearing.

Retrieved February 15, Testimony presented at a hearing of the U. Senate Committee on Commerce, Science, and Transportation. Retrieved 1 May Retrieved 15 March The Sultan of Swaps".

Retrieved 15 February Check date values in: Retrieved May 18, Bid"The New York Times Dealbook, February 18, Retrieved 19 April Retrieved 16 May San Jose Mercury News.

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Competition and Markets Authority. Retrieved 18 October Retrieved 13 March Business data for Intercontinental Exchange: Finance Reuters SEC filings. World Federation of Exchanges. Barbados Stock Exchange Belarusian Currency and Stock Exchange Bolsa de Comercio de Rosario Bolsa de Valores de Panama Bolsa Nacional de Valores Canadian Securities Exchange Dutch Caribbean Securities Exchange Ghana Stock Exchange Jamaica Stock Exchange Kuwait Stock Exchange Miami International Securities Exchange PFTS Stock Exchange Sydney Stock Exchange Seychelles Securities Exchange Trop-X.

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