ICE, the new owner of the New York Stock Exchange, will acquire SuperDerivatives, the risk management analytics and market data provider. The deal is worth an estimated $350 million in an all-cash deal.
The acquisition will accelerate the expansion of ICEs comprehensive multi-asset class clearing strategy, according to a press statement.
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. 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, said Jeffrey C. Sprecher, ICE Chairman and CEO.
David Gershon, SuperDerivatives Chairman and CEO, added: Over the past few years ICE has taken the lead in shaping the evolution of the financial markets. We strongly believe that with the data, technology and the broad suite of products SuperDerivatives offers there are great benefits we can deliver to the market including efficiency, transparency and innovation. We believe that joining with ICE opens a tremendous opportunity for us to deliver our innovative products and services across the globe.
SuperDerivatives provides risk management analytics and systems across all asset classes, including interest rates, FX, credit, equities, energy and commodities. The firms DGX front-end data system is a web-based platform to deliver real time analytics, data, news and multi participant chat with video. Other products and services include independent valuation, market data for mark-to-market, multi-asset derivatives front office and risk systems and a multi-asset OTC execution platform.
The deal has been approved unanimously approved by SuperDerivatives Board of Directors and SuperDerivatives shareholders. The transaction is pending regulatory approval and participants expect it to be finalized by Q4 of 2014.
