13:00 | 27.10.2017
Intercontinental Exchange Announces Sale of Trayport to TMX Group in Exchange for £350MM Cash and NGX and Shorcan Energy

Intercontinental Exchange (NYSE:ICE), a leading operator of global
exchanges and clearing houses and provider of data and listings
services, announced it has agreed to sell Trayport to TMX Group Limited
(TMX Group) in exchange for certain TMX Group assets and cash of £350
million. In addition to cash, ICE will receive NGX and Shorcan Energy
Brokers Inc. upon the completion of the transaction. In connection with
the execution of the Agreements, ICE and TMX Group have also entered
into a non-binding memorandum of understanding agreeing to explore in
the future further avenues for possible collaboration.

Headquartered in Calgary, NGX provides electronic trading, central
counterparty clearing and data services to the North American natural
gas, electricity and oil markets. ICE and NGX have had a longstanding
and comprehensive strategic alliance to enable customers to conduct
physical clearing for certain natural gas and power hubs through NGX’s
clearing house, which is a CFTC-registered Derivatives Clearing
Organization (DCO). NGX’s exchange is CFTC-registered as a Foreign Board
of Trade (FBOT). Shorcan Energy offers brokerage services for the North
American crude oil markets.

The U.K. Competition and Markets Authority (CMA) has approved the sale
of Trayport to TMX Group. The sale of NGX and Shorcan Energy to ICE is
subject to regulatory approvals and notifications, and is anticipated to
close in late 2017 or early 2018. ICE will provide more details on its
third quarter earnings call on November 2, 2017.

“We look forward to offering our customers further efficiencies and risk
management solutions in the North American physical energy markets to
meet their needs for capital efficiency and regulatory compliance,” said
ICE Chairman and CEO Jeffrey C. Sprecher. “We believe this is a positive
result for our customers and shareholders, and we are divesting Trayport
in a manner consistent with the CMA’s requirements. We believe expanded
clearing solutions will be appreciated by customers seeking more choice
in risk management and more efficiency in how they execute and clear.”

ICE’s lead financial advisor is Citi; further financial advice is
provided by Goldman Sachs & Co. ICE’s legal advisor is Shearman &
Sterling LLP.
About Intercontinental ExchangeIntercontinental
Exchange (NYSE:ICE) is a Fortune 500 company that operates a leading
network of global futures,
equity and equity options exchanges, as well as global
clearing and data
services across financial and commodity markets. The New
York Stock Exchange is the world leader in capital raising, listings
and equities trading.

Trademarks of ICE and/or its affiliates include Intercontinental
Exchange, ICE, ICE block design, NYSE and New York Stock Exchange.
Information regarding additional trademarks and intellectual property
rights of Intercontinental Exchange, Inc. and/or its affiliates is
located at

Safe Harbor Statement under the Private Securities Litigation Reform Act
of 1995 — Statements in this press release regarding ICE’s business
that are not historical facts are “forward-looking statements” that
involve risks and uncertainties. For a discussion of additional risks
and uncertainties, which could cause actual results to differ from those
contained in the forward-looking statements, see ICE’s Securities and
Exchange Commission (SEC) filings, including, but not limited to, the
risk factors in ICE’s Annual Report on Form 10-K for the year ended
December 31, 2016, as filed with the SEC on February 7, 2017.

SOURCE: Intercontinental Exchange


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