ICE Announces Acquisition of Ballista; Integration with YellowJacket to Expand on Existing Derivatives Capabilities
ATLANTA, Feb. 25, 2011 /PRNewswire/ — IntercontinentalExchange (NYSE: ICE), a leading operator of regulated global futures exchanges, clearing houses and over-the-counter (OTC) markets today announced it has acquired Ballista Securities (Ballista). Ballista is a registered broker/dealer that offers an electronic options platform for the execution of block-sized and complex multi-leg options transactions. Ballista will augment ICE’s existing initiatives in the options market, which began with YellowJacket’s entry into the off-exchange negotiated market last year.
YellowJacket, a wholly owned subsidiary of ICE, is a leading options negotiation platform. The Ballista system will be incorporated into the YellowJacket workflow allowing easier access to Ballista’s technology and providing customers with a platform that offers seamless connection to an array of electronic systems and liquidity sources.
Said YellowJacket CEO Jacob Pechenik: “As ICE continues to introduce efficiencies and additional tools for the negotiated options market, the acquisition and integration of Ballista with YellowJacket is an important step in serving these markets.”
Ballista will be operated as a wholly owned subsidiary of ICE. Terms of the transaction were not disclosed.
IntercontinentalExchange (NYSE: ICE) is a leading operator of regulated futures exchanges and over-the-counter markets for agricultural, credit, currency, emissions, energy and equity index contracts. ICE Futures Europe hosts trade in half of the world’s crude and refined oil futures. ICE Futures U.S. and ICE Futures Canada list agricultural, currencies and Russell Index markets. ICE is also a leading operator of central clearing services for the futures and over-the-counter markets, with five regulated clearing houses across North America and Europe. ICE serves customers in more than 70 countries.
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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, 2010, as filed with the SEC on February 9, 2011.