IntercontinentalExchange (NYSE: ICE), a leading operator of global exchanges and over-the-counter (OTC) markets, has just been named Derivatives Exchange of the Year for 2007 by Risk Magazine.
An editorial panel at Risk, the world's leading financial risk management magazine, selected ICE and winners of its other annual awards. Among the factors considered were strengths in innovation, infrastructure, systems and organization, client service and risk management.
Jeffrey Sprecher, ICE Chairman and Chief Executive Officer, said: "We are honored to achieve this distinguished recognition from Risk. Last year was momentous for ICE as we transformed the company from a leading energy futures exchange and over-the-counter market to a global derivatives marketplace with a comprehensive product offering that includes energy, soft commodities and other agricultural products, equity indexes, foreign exchange and chemicals."
The Risk article announcing the award quoted Sprecher on the challenges of integration: "Integration of all our acquisitions over the year into ICE has required a huge amount of effort behind the scenes, but it appeared seamless to the outside world. All those involved have had to adapt quickly, and overall it has been a great success."
The article also mentioned ICE's license negotiated in 2007 to offer exclusive access to the Russell Investment Group's line of U.S. equity indexes, beginning in September 2008; enhancements to the speed of the trading platform; relocation of the primary data center to Chicago; and trading volume records.
ICE also earned the Derivatives Exchange of the Year title from Risk for 2005.