Atlanta-based IntercontinentalExchange (ICE) saw its pretax profit plummet 62% to $19.9 million, its cash flow drop 47% to $27.1 million and its revenues tumble 25% to $93.7 million last year as the energy trading business struggled through a credit crisis and trading dropped sharply on its over-the-counter (OTC) electronic marketplace.
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Articles from Intercontinentalexchange
ICE Vows to Continue Legal Battle with Nymex, Say Ruling Isn’t a Setback
Bitter rivals IntercontinentalExchange (ICE) and the New York Mercantile Exchange (Nymex) had a public spat last week over a judge’s decision in their legal dispute over ICE’s use of Nymex settlement prices in ICE over-the-counter (OTC) contracts.
ICE Vows to Continue Legal Battle with Nymex, Say Ruling Isn’t a Setback
IntercontinentalExchange (ICE) took issue Thursday with an announcement made by the New York Mercantile Exchange (Nymex) a day earlier concerning a judge’s decision in their legal battle. Nymex had announced that the judge ruled on the merits on the case and dismissed four out of five counterclaims made by ICE against Nymex. But ICE said that’s not entirely true. In fact, the judge left open the possibility that ICE could file amended counterclaims and continue its fight (see Daily GPI, Aug. 14).
ICE Opens Its Doors to Nymex Floor Traders, Locals
IntercontinentalExchange (ICE) is opening its doors to Nymex floor traders. ICE said it received approval from the Commodity Trading Futures Commission (CFTC) to allow registered floor traders, locals and other traders with electronic trading privileges on other major regulated U.S. futures exchanges to execute over-the-counter (OTC) transactions on ICE’s electronic trading platform.
ICE Countersues Nymex for Abuse of Monopoly Power
The court battle between the energy industry’s two trading exchange giants, IntercontinentalExchange (ICE) and the New York Mercantile Exchange (Nymex), reached the boiling point last week with ICE, the energy industry’s largest over-the-counter (OTC) trading platform operator, filing an answer and a counterclaim to a Nymex lawsuit in November.
ICE Countersues Nymex for Abuse of Monopoly Power
IntercontinentalExchange (ICE), the energy industry’s largest over-the-counter (OTC) trading platform operator, filed an answer and a counterclaim Monday to the New York Mercantile Exchange’s (Nymex) lawsuit in November. ICE is charging Nymex with abuse of monopoly power for claiming copyright protection over its settlement prices and for its recent efforts to launch an OTC trading platform similar to the one ICE currently operates.
Nymex Wants to Be Like ICE
The New York Mercantile Exchange (Nymex) stepped up the competition with IntercontinentalExchange (ICE), the energy industry’s most widely used electronic over-the-counter (OTC) energy trading platform, by announcing plans to introduce its own trading platform designed for the OTC energy market. The system begins beta testing this week and will be launched in January.
Nymex Wants to Be Like ICE
The New York Mercantile Exchange (Nymex) stepped up the competition with IntercontinentalExchange (ICE), the energy industry’s most widely used electronic over-the-counter (OTC) energy trading platform, by announcing plans to introduce its own trading platform designed for the OTC energy market. The system begins beta testing next week and will be launched in January.
ICE, Nymex Tout Growing OTC Clearing Business; EnergyClear Opens Shop
IntercontinentalExchange (ICE) flexed its muscles on Thursday, revealing its strong position in the U.S. over-the-counter (OTC) natural gas market. The exchange said about one million natural gas contracts have been cleared through its system since March with a notional value of about $10 billion. ICE said it also set a new daily cleared volume record for natural gas transactions in the United Kingdom on Thursday and has cleared more than one billion therms in the that country since September.
ICE Clears $10B in U.S. Gas Contracts
IntercontinentalExchange (ICE) flexed its muscles on Thursday, revealing its strong position in the U.S. over-the-counter (OTC) natural gas market. The exchange said about one million natural gas contracts have been cleared through its system since March with a notional value of about $10 billion. ICE said it also set a new daily cleared volume record for natural gas transactions in the United Kingdom on Thursday and has cleared more than one billion therms in the that country since September.