ICE Bolsters Clearing with SuperDerivatives Buy

Jeffrey Sprecher, ICE

Intercontinental Exchange says it will buy the derivatives pricing and risk management software provider for $350 million.

The global exchange operator says the deal will help further support its build-out of multi-asset class clearing and related risk management offerings, using pricing information derived from trade data on ICE's recently-bought Liffe derivatives exchange, as well other over-the-counter (OTC) markets with which ICE has been historically involved.

“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," says Jeffrey Sprecher, ICE Chairman and CEO. "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.”

The all-cash deal is expected to close in Q4 of 2014.

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