IntercontinentalExchange (NYSE: ICE), a leading operator of global futures exchanges and over-the- counter (OTC) markets, announced today that the editors of Global Finance Magazine have named ICE "Best Derivatives Exchange" for 2008 based on strategic and financial achievements. The recognition is part of the magazine's Best Derivatives Providers awards, which will be detailed in the November issue.
Global Finance cited a variety of reasons for selecting ICE for the award, including:
- ICE "experienced a period of momentous change in 2007, which laid the groundwork for impressive growth in the year to the end of the second quarter of 2008 - the period covered by Global Finance's awards.
- "The exchange's ambitious decision to launch online trading within weeks of the [New York Board of Trade] acquisition was vindicated with 90% of trading screen-based by the end of 2007.
- "Revenues grew 83% in 2007, 64% in the first quarter (year-on-year) and 44% in the second quarter.
- "ICE's growth has not resulted from a lucky break. Its buying spree has been astute and the acquired businesses integrated with astonishing speed.
- "ICE's investment in infrastructure has been unprecedented. While integrating numerous acquisitions, ICE has significantly upped its game with faster transaction times, greater stability and improved visibility, transparency and functionality."
Global Finance's editors base selections on factors that range from the "quantitatively objective to the informed subjective." In announcing the awards, Global Finance publisher Joseph D. Giarraputo said: "The mix of these factors yields winners that may not be the largest, the oldest or the most diversified in the sector, but rather the best - the provider with which most companies and investors around the world are most likely to want to do business."
"We are honored that Global Finance has recognized ICE for this prestigious award," said Jeff Sprecher, ICE Chairman and CEO. "We are executing an aggressive growth plan across an expanding range of asset classes through organic growth, strategic acquisitions, key alliances, and a focus on technology and long-term shareholder value. It's rewarding to have our achievements and innovative approach to the derivatives markets recognized."
Global Finance (www.gfmag.com), which is celebrating its 21st year of publishing, has 50,000 subscribers and more than 284,000 readers in over 158 countries. The readership includes chairmen, presidents, CEOs, CFOs, treasurers, and other financial officers. Global Finance also targets the 8,000 key portfolio investors who control over 80% of all assets under professional management.
