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Intercontinental Exchange : ウィキペディア英語版
Intercontinental Exchange

| operating_income =
| net_income =
| homepage = (www.theice.com )
| footnotes = 〔(ICE 2011 Form 10-K )〕
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Intercontinental Exchange, Inc. (ICE) is an American network of exchanges and clearing houses for financial and commodity markets. ICE owns and operates 23 regulated exchanges and marketplaces; ICE futures exchanges in the US, Canada and Europe, Liffe futures exchanges in the US and Europe, New York Stock Exchange, Equity options exchanges, OTC energy, credit and equity markets. ICE also owns and operates 5 central clearing houses; ICE Clear Europe, ICE Clear U.S., ICE Clear Canada, ICE Clear Credit, and The Clearing Corporation.〔(【引用サイトリンク】title=About )〕 Headquartered in Atlanta, Georgia, ICE has offices in New York, London, Chicago, Houston, Winnipeg, Amsterdam, Calgary, Washington, D.C., San Francisco and Singapore.
== History ==
Jeffrey C. Sprecher, founder, chairman, and Chief Executive Officer, was a power plant developer who spotted a need for a seamless market in natural gas used to power generators. In the late 1990s, Sprecher acquired Continental Power Exchange, Inc. with the objective of developing an Internet-based platform to provide a more transparent and efficient market structure for OTC energy commodity trading.
In May 2000, ICE was founded by Sprecher and backed by Goldman Sachs, Morgan Stanley, BP, Total, Shell, Deutsche Bank and Société Générale who represent some of the world's largest energy traders.
The new exchange offered the trading community better price transparency, more efficiency, greater liquidity and lower costs than manual trading. While the company's original focus was energy products (crude and refined oil, natural gas, power, and emissions), acquisitions have expanded its activity into soft commodities (sugar, cotton and coffee), foreign exchange and equity index futures.
In a response to US financial crisis in 2008, Sprecher formed ICE US Trust based in New York, now called ICE Clear Credit LLC, to serve as a limited-purpose bank, a clearing house for credit default swaps. Sprecher worked closely with the Federal Reserve to serve as its over-the-counter (OTC) derivatives clearing house. "US regulators were keen on the kind of clearing house for opaque over-the-counter (OTC) derivatives as a risk management device. In the absence of a central counterparty - which would guarantee pay-outs should a trading party be unable to do so - there was a high risk of massive market disruption"
The principal backers for ICE US Trust were the same financial institutions most affected by the crisis, the top ten of the world's largest banks (Goldman Sachs, Bank of America, Citi, Credit Suisse, Deutsche Bank, JPMorgan, Merrill Lynch, Morgan Stanley and UBS). Sprecher's clearing house cleared their global credit default swaps (CDS) in exchange for sharing profits with these banks.. By 30 September 2008 the Financial Post warned that the "$54000bn credit derivatives market faced its biggest test in October 2008 as billions of dollars worth of contracts on now-defaulted derivatives would be auctioned by the International Swaps and Derivatives Association . In his article in the Financial Post, described ICE as a "US-based electronic futures exchange" which raised the stakes on October 30, 2008 in its effort to expand in the $54000 bn credit derivatives market.
By 2010, Intercontinental Exchange had cleared more than $10 trillion in credit default swaps (CDS) through its subsidiaries, ICE Trust CDS (now ICE Clear Credit).

抄文引用元・出典: フリー百科事典『 ウィキペディア(Wikipedia)
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