22 February 2018
visit www.nextgenbanking.co.uk/

ICE buys WhenTech

05 September 2012  |  1587 views  |  0 Source: IntercontinentalExchange

IntercontinentalExchange (NYSE: ICE), a leading operator of global regulated futures exchanges, clearing houses and over-the-counter (OTC) markets, announced today that it has acquired WhenTech, a market leading technology, software and information provider for option market participants.

WhenTech's solutions include options valuation, analytics and risk management platforms.

ICE's YellowJacket (YJ) subsidiary began working with WhenTech in May of 2010 to provide WhenTech customers instant pricing on option quotes flowing over YJ's instant messaging platform, which is now known as ICE Chat. This relationship expanded to utilize the integrated ICE and ICE Chat platforms to scan the market for trading opportunities, respond to instant message quotes, including request for quote and request for cross transactions, and then immediately execute and fill orders. As liquidity for ICE's electronic options markets increased, the relationship expanded to offer many of these capabilities for thousands of WebICE users.

"By closely integrating WhenTech's market leading pricing and risk management features into the ICE options trading workflow, our customers will be able to quickly identify trading opportunities and execute options orders in a highly efficient and effective manner," said ICE Futures U.S. President and COO Ben Jackson.

"This acquisition is the result of a long-standing and productive working relationship that has enabled our customers to benefit from our combined resources and expertise. We look forward to working together in continuing to bring options market participants leading edge technology solutions to meet their evolving needs," said WhenTech founder Dave Wender.

WhenTech will operate as a wholly-owned subsidiary of ICE. Terms of the transaction were not disclosed. 

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.capgemini.com/worldreportsvisit www.nextgenbanking.co.ukRegister for the webinar

Top topics

Most viewed Most shared
ABN Amro moves escrow accounts to the blockchainABN Amro moves escrow accounts to the bloc...
10289 views comments | 15 tweets | 13 linkedin
Coinbase and Visa at loggerheads over erroneous charges on customer crypto accountsCoinbase and Visa at loggerheads over erro...
8558 views comments | 13 tweets | 12 linkedin
Ripple makes new connections to emerging marketsRipple makes new connections to emerging m...
8070 views comments | 13 tweets | 6 linkedin
BBVA-backed digital banking startup targets gig economy workersBBVA-backed digital banking startup target...
7291 views comments | 8 tweets | 12 linkedin
hands typing furiouslySome Interesting Applications Of The Inter...
7241 views 3 | 7 tweets | 1 linkedin

Featured job

Competitive base + commission + benefits
London, UK

Find your next job