ICE Completes $650 Million Trayport Acquisition
IntercontinentalExchange finalizes Trayport acquisition from BCG Partners and GFI Group.
The sale of Trayport was first mooted by BGC in April this year after the firm completed its acquisition of GFI Group in February. With an established foothold in the commodities market, ICE emerged as front-runner to acquire Trayport. According to the firm, it intends to maintain Trayport's London-based operations.
"We will continue to invest in the Trayport platform, maintaining and enhancing its current model to serve the European OTC markets by facilitating the interaction of brokers, utilities and end-users, clearing houses, and other market participants," says, Jeffrey Sprecher, chairman and CEO of ICE. "As the European energy markets evolve, we look forward to supporting and developing Trayport's technology to assist the management of price risks in a liquid, broker-centric marketplace."
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