YellowJacket is a financial technology firm that operates an electronic trade negotiation platform offering a range of trading tools including instant communication, negotiation and data. With the platform, traders can aggregate and consolidate fragmented instant message-based communications and key transaction details on a single screen. Markets currently served include weather, natural gas, power and crude oil. Formed in 2002, YellowJacket is privately held.
"YellowJacket brings an innovative application that is uniquely positioned to meet the demand for electronic efficiencies in the OTC markets where complex options or structured products are involved," said ICE Chairman and Chief Executive Officer Jeffrey C. Sprecher. "We see many applications of this technology beyond the energy and weather categories, particularly when coupled with ICE's expanding clearing capabilities."
"Our proven platform supports the negotiation of any energy transaction,
any complexity of contract, with any qualified counterparty," said
YellowJacket Co-Founder and
ICE expects to complete its acquisition of YellowJacket in February. Terms of the transaction were not disclosed. The acquisition is not expected to be material to ICE's operating results during the first half of 2008.
About IntercontinentalExchange
IntercontinentalExchange(R) (NYSE: ICE) is a leading operator of global
exchanges and over-the-counter (OTC) markets. ICE offers futures and OTC
markets on a single trading platform, including markets for crude oil and
refined products, natural gas, power and emissions, as well as agricultural
commodities and financial products such as canola, cocoa, coffee, cotton,
ethanol, orange juice, wood pulp, sugar, foreign currency and equity index
futures and options. ICE(R) conducts its energy futures markets, including the
leading oil benchmark contracts, through its London-based exchange, ICE
Futures
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 such 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
SOURCE IntercontinentalExchange, Inc.