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TMX Group to buy ICE’s energy trading solutions provider Trayport

BBR Staff Writer Published 30 October 2017

TMX Group has agreed to acquire Intercontinental Exchange’s (ICE) energy trading solutions provider Trayport for £350m.

Once the deal concludes, ICE will receive NGX and Shorcan Energy Brokers, in addition to cash.

Trayport offers energy trading solutions to traders, brokers and exchanges across the globe. It operates from offices in London, New York and Singapore.

Its three principal global vision products include trading gateway, broker trading system and exchange trading system.

Trading gateway allows trading across multiple energy and commodity markets on a single screen, while broker trading system is a multi-asset class electronic trading platform with an advanced rules-based matching engine and customisable front end.

The exchange trading system is a matching engine that allows matching engine that allows cleared and bilateral trading, market operations and data distribution for exchanges.

Based in Calgary, NGX offers electronic trading, central counterparty clearing and data services to the North American natural gas, electricity and oil markets.

Subject to regulatory approvals and notifications, the sale of NGX and Shorcan Energy to ICE is expected to complete in late 2017 or early 2018.

ICE chairman and CEO Jeffrey Sprecher said: “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 operates network of global futures, equity and equity options exchanges, as well as offers global clearing and data services to financial and commodity markets.

Image: TMX Group offices at 130 King Street West in Toronto, Ontario, Canada. Photo: courtesy of Open Grid Scheduler / Grid Engine.