ATLANTA & NEW YORK--(BUSINESS WIRE)-- Intercontinental Exchange (NYSE: ICE), a leading operator of global exchanges, clearing houses and data services, today announced that it has entered into an agreement to sell certain U.S. voice brokerage operations of Creditex to Tullett Prebon, one of the world’s leading interdealer brokers. ICE will retain the electronically traded markets and systems, post-trade connectivity platforms and intellectual property of Creditex, which serves the global credit default swaps (CDS) market. The terms of the transaction were not disclosed and the transaction is subject to FINRA approval.

“After developing the solutions to enable the CDS market to become increasingly standardized, electronic and cleared, we are organizing our global credit derivatives operations around the areas best aligned with our strengths across clearing, data and technology,” said Krishan Singh, President of ICE Swap Trade. “Tullett Prebon is a strategic buyer and leading operator of brokered OTC markets that will enable the team to transition seamlessly while providing continuity of service to our voice brokerage customers. We are excited about continuing to grow Creditex’s innovative electronic trading and related technologies, along with our CDS clearing offerings in response to customer requirements.”

ICE also operates ICE Swap Trade, a swap execution facility (SEF) for CDS trade execution, ICE Credit Trade, a leading inter-dealer electronic trading venue for bonds, as well as ICE Link, the leading platform for CDS affirmation, novation and clearing connectivity. ICE has also extended its credit derivatives markets into futures through its Eris CDX Credit futures contracts, which reached record monthly volume in June 2016.

For more information, please visit: https://www.theice.com/swap-trade

About Intercontinental Exchange

Intercontinental Exchange (NYSE:ICE) operates the 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, Interactive Data and Trayport. 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 ICE's Annual Report on Form 10-K for the year ended December 31, 2015, as filed with the SEC on February 4, 2016.

SOURCE: Intercontinental Exchange

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ICE Media Contact:
Damon Leavell
+1 212 323 8587
media@theice.com
investors@theice.com

Source: Intercontinental Exchange