ICE Acquires Options Tech Supplier
September 5, 2012
IntercontinentalExchange said it is acquiring WhenTech, a supplier of technology, information and software to options market participants.
The operator of futures exchanges, clearing houses and derivatives markets said WhenTech’s products allow allows market participants to value options, analyze trades and manage risks.
The relationship began two years ago when ICE's YellowJacket subsidiary began to provide WhenTech customers with pricing on option quotes transmitted on an instant messaging platform now known as ICE Chat.
This relationship later made combined use of ICE and ICE Chat to allow participants to scan options markets for trading opportunities and respond to quotes sent by instant message.
"By closely integrating WhenTech's market leading pricing and risk management features into the ICE options trading workflow, our customers will be able to quickly identify trading opportunities and execute options orders in a highly efficient and effective manner," said ICE Futures U.S. President and COO Ben Jackson.
WhenTech will become a wholly-owned subsidiary of ICE. Financial terms were not disclosed.