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Intercontinental Exchange Statement on Competition Appeal Tribunal’s Trayport Ruling

Released : 06 March 2017

LONDON--(BUSINESS WIRE)-- Intercontinental Exchange (NYSE: ICE) notes today’s ruling by the Competition Appeal Tribunal (CAT) with respect to ICE’s appeal against the Competition and Market Authority (CMA) prohibition decision in connection with the acquisition of Trayport.

We are gratified by today’s ruling by the CAT reversing the CMA’s decision that the agreement between ICE and Trayport should be terminated, and remitting this issue to the CMA for further consideration. We are hopeful that the CMA will recognize the merits of customers gaining access to additional Trayport connectivity and greater access to relevant markets through the agreement.

We are disappointed by the CAT’s ruling on the other aspects of our appeal, having presented a compelling challenge to the CMA’s decision ordering ICE to divest Trayport. We will review the CAT’s judgment and consider our options, including the possibility of a further appeal to the Court of Appeal.

In the interim, Trayport will continue to be operated separately as it is today.

About Intercontinental Exchange

Intercontinental Exchange (NYSE: ICE) operates the leading network of regulated exchanges and clearing houses, and is a provider of global data and listing services. ICE’s futures exchanges and clearing houses serve global commodity and financial markets, providing risk management and capital efficiency. The New York Stock Exchange is the world leader in capital raising 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 www.intercontinentalexchange.com/terms-of-use.

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 Intercontinental Exchange, Inc.’s Annual Report on Form 10-K for the year ended December 31, 2016, as filed with the SEC on February 7, 2017. We caution you not to place undue reliance on these forward looking statements. Any forward-looking statement speaks only as of the date on which such statement is made, and we undertake no obligation to update any forward-looking statement or statements to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of an unanticipated event. New factors emerge from time to time, and it is not possible for management to predict all factors that may affect our business and prospects. Further, management cannot assess the impact of each factor on the business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements.

SOURCE: Intercontinental Exchange

ICE-CORP

Investor Contact:
Kelly Loeffler
770-857-4726
kelly.loeffler@theice.com

Source: Intercontinental Exchange