Atlanta’s ICE buys player in derivatives market

IntercontinentalExchange said Friday that it will pay $350 million for SuperDerivatives in a deal to add the New York market data firm to its portfolio of securities market exchanges.

Atlanta-based ICE, which operates several of the world’s key regulated securities exchanges, including the New York Stock Exchange, said the all-cash deal is part of its strategy to support trading of a wide range of assets beyond stocks and bonds. ICE said it expects to complete the transaction by the end of the year.

SuperDerivatives provides real-time market data and valuation services to banks, money managers, pension funds and other clients on a variety of so-called derivatives. The company was founded in 2000 and has about 300 employees.

Derivatives, such as futures, options and swaps, change in value based on the market price or level of an underlying asset or index, such as an interest rate or the price of aluminum. Investors and companies use derivatives to either hedge risks or speculate on changes in interest rates, currencies, energy prices, stocks, debt and commodities.

“SuperDerivatives is an innovative developer of valuable derivatives data and technology, and will play a key role in extending our financial market clearing and data capabilities,” said ICE CEO Jeffrey Sprecher. “We already work with SuperDerivatives in our existing businesses and we look forward to extending that work with the global SuperDerivatives team as we grow our risk management services across our global exchanges and clearing houses.”

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Russell Grantham

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