Spectron Joins ICE eConfirm Broker Matching Service
LONDON and ATLANTA, Aug. 3 /PRNewswire-FirstCall/ — Spectron, the global commodities brokerage, and IntercontinentalExchange((R)) (NYSE: ICE), a leading operator of regulated global futures exchanges, clearing houses and over-the-counter (OTC) markets, announced that Spectron has joined the ICE eConfirm((R)) Broker Matching Service for OTC transactions.
The ICE eConfirm platform is designed to facilitate fast and accurate post-trade confirmation, increase back-office efficiency and reduce the potential for trade data errors. The ICE eConfirm Broker Matching Service allows participants to auto-match trade data and resolve discrepancies with brokers via the ICE eConfirm website, eliminating phone calls, paper faxes and emails.
“We are delighted to add ICE eConfirm to our full suite of brokerage services — and have had strong demand for the service from our customers in North America. It could significantly reduce operational risk for our clients — cutting the time spent on matching and confirming trades and improving the accuracy of these processes,” said Gordon Bennett, managing director of Spectron USA.
“We are extremely pleased that Spectron enrolled in the Broker Matching Service,” said Chuck A. Vice, ICE President and COO. “As the confirmation solution for the world’s largest trading firms, ICE eConfirm has become the trade confirmation standard for the energy industry. The addition of Spectron will allow the 200+ ICE eConfirm Participants to further automate their confirmation process.”
Spectron, which was recently named Broker of the Year in the 2009 New Economy awards, operates a global wholesale marketplace for energy and commodities from its offices in London, Singapore, Frankfurt and across the US. Markets covered include: natural gas, electricity, oil, coal, metals, weather derivatives, petroleum products, nuclear fuels, emissions, environmental products and soft commodities. www.spectrongroup.com
IntercontinentalExchange((R)) (NYSE: ICE) operates leading regulated exchanges, trading platforms and clearing houses serving the global markets for agricultural, credit, currency, emissions, energy and equity index markets. ICE Futures Europe((R)) hosts trade in half of the world’s crude and refined oil futures. ICE Futures U.S.((R)) and ICE Futures Canada((R)) list agricultural, currency and Russell Index markets. ICE offers trade execution and processing for the credit derivatives markets through Creditex and ICE Link((TM)), respectively, and CDS clearing through ICE Trust((TM)). A component of the Russell 1000((R)) and S&P 500 indexes, ICE((R)) serves customers in more than 50 countries and is headquartered in Atlanta, with offices in New York, London, Chicago, Winnipeg, Calgary, Houston and Singapore. www.theice.com
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 – Statements in this press release regarding IntercontinentalExchange’s business that are not historical facts are “forward-looking statements” that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE’s Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE’s Annual Report on Form 10-K for the year ended December 31, 2008, as filed with the SEC on February 11, 2009.
SOURCE IntercontinentalExchange; Spectron