Glencore selects ICE Instant Messaging (IM) for oil trading division

Source: IntercontinentalExchange

Intercontinental Exchange (NYSE:ICE), a leading operator of global exchanges and clearing houses and provider of data and listings services, today announced that Glencore has selected ICE Instant Messaging (IM) for its oil trading division.

Glencore is one of the world’s largest global diversified natural resource companies and a major producer and trader of more than 90 commodities. ICE IM is part of the desktop and trading tools offered by ICE Data Services and is designed specifically for the trading community, with broad distribution that allows customers to collaborate with other global market participants in a secure, reliable environment that meets rigorous compliance requirements.

The number of users for ICE IM has grown 15 percent since the beginning of 2016 to more than 10,000 active users. Yahoo! said earlier this year that it will discontinue its Messenger service on August 5, 2016, and will migrate users to an alternate platform which doesn’t support common IM features relied upon by the trading community or compliance functionality most firms require. ICE IM is available to all active ICE customers and their counterparties, and is available as a stand-alone service or as part of the trading screen, WebICE.

ICE IM’s functionality includes:
• Message Blaster - allows traders and brokers to send a single message to multiple contacts to quickly discover prices.
• Chat Rooms - participants can collaborate with colleagues and users outside their firm in a compliant bilateral or multi-party environment with permission-based user controls.
• SmartText Recognition - transforms text-based market information into structured market data that can be used to more quickly identify trading opportunities.
• Mobile Messaging - offers real-time synchronization with the ICE mobile app so users can access contacts and messages, with real-time notifications.

“We’re pleased to have Glencore as part of our IM network, and with the overall growth we’ve seen in users so far this year,” said Lynn Martin, President and COO of ICE Data Services. “From an enterprise level, ICE IM provides the tools needed for traders, risk managers, operations professionals and IT across the firm to collaborate with global market participants in a stable, secure and regulatory-compliant environment.”

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