ICE Acquires Climate Exchange
IntercontinentalExchange (ICE), an operator of regulated global derivatives exchanges and over-the-counter (OTC) markets, has acquired Climate Exchange, an operator of global emissions markets.
“ICE’s acquisition of Climate Exchange is the culmination of a long-standing and productive partnership between our companies,” said ICE chairman and chief executive officer (CEO) Jeffrey Sprecher. “With a track record of developing innovative, market-based solutions for emissions markets, Climate Exchange is a natural partner and complements our global energy business. Moving forward together, we will continue working to address the opportunities in the evolving emissions markets.”
The Climate Exchange is organised into three core businesses: the European Climate Exchange (ECX), the Chicago Climate Futures Exchange (CCFE) and the Chicago Climate Exchange (CCX). ICE has provided the electronic trading platform for CCX and CCFE since the launch of trading on those exchanges in 2003 and 2004, respectively. In 2005, ICE and Climate Exchange co-developed and launched ECX, with contracts listed and traded on ICE Futures Europe. In 2008, clearing for all ICE Futures Europe contracts, including those of ECX, transitioned to ICE Clear Europe. In March 2009, ICE acquired The Clearing Corporation, which is the clearing house for CCFE.