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NYSE-owner ICE to buy commodities trading platform for $650 million

Posted on 17 November 2015

Intercontinental Exchange Inc, the owner of the New York Stock Exchange, said it would buy commodities trading platform Trayport from BGC Partners Inc and GFI Group Inc for about $650 million in stock. ICE said the deal would help it to provide new services to the European over-the-counter energy markets, including power, natural gas and coal.
The exchange and clearing house operator said it also planned to extend the platform to cater to over-the-counter energy markets in Asia. GFI will receive 2.5 million ICE shares as part of the deal. ICE may substitute cash for part or all of the stock consideration, BGC said in a statement………………………………………..Full Article: Source


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