ICE Sells NYSE’s Wombat Financial Software to SR Labs for an Undisclosed Sum
- The deal has passed due diligence and the transaction concluded only six weeks after it has been announced back in the beginning of June, both companies have refrained from announcing additional details.
Almost 14 years ago the Intercontinental Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term (ICE) started as an electricity trading market, acquiring the NYSE back in December 2012 for the sum of $8.2 billion. Along with the keystone of American capitalism, it also obtained Wombat Financial Software, which itself got acquired by the NYSE in the beginning of 2008. The company was founded in 1997 and has been dedicated to developing management solutions for financial market data.
Today ICE issued an announcement stating that a previously announced sale transaction was concluded today with SR Labs. The final details are quite vague as the companies have chosen to refrain from announcing the terms of the deal.
Ice Futures’ President and Chief Operating Officer, Ben Jackson, has stated that SR Labs and Intercontinental Exchange teams finalized this transaction within a very short period of time, totalling just six weeks since contract signing. He stated, “ICE will continue to provide support services to SR Labs for a period of time to help ensure an orderly transition of the business.”
One key component of the Wombat product suite is SuperFeed, which is a managed, hosted market data feed service. It provides global exchanges coverage to traders and investors in a scalable solution, which is used by both algorithmic trading applications and individual trading desks. The product also offers direct Connectivity Connectivity Connectivity is defined as a term used for connecting devices to each other. In most cases, this refers to computer networking and more specifically includes bridges, routers, switches, gateways, and service as well as local networks. Connectivity can refer to simple forms, such as connecting a home or office to the internet or even connecting a digital camera to a computer or printer. Connectivity in FinanceConnectivity has taken on new meaning with the growth of fintech and Big Data collectio Connectivity is defined as a term used for connecting devices to each other. In most cases, this refers to computer networking and more specifically includes bridges, routers, switches, gateways, and service as well as local networks. Connectivity can refer to simple forms, such as connecting a home or office to the internet or even connecting a digital camera to a computer or printer. Connectivity in FinanceConnectivity has taken on new meaning with the growth of fintech and Big Data collectio Read this Term to a range of key global trading venues, such as BATS, CHI-X, Deutsche Borse, LSE, NASDAQ, NYSE and many others.
Almost 14 years ago the Intercontinental Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term (ICE) started as an electricity trading market, acquiring the NYSE back in December 2012 for the sum of $8.2 billion. Along with the keystone of American capitalism, it also obtained Wombat Financial Software, which itself got acquired by the NYSE in the beginning of 2008. The company was founded in 1997 and has been dedicated to developing management solutions for financial market data.
Today ICE issued an announcement stating that a previously announced sale transaction was concluded today with SR Labs. The final details are quite vague as the companies have chosen to refrain from announcing the terms of the deal.
Ice Futures’ President and Chief Operating Officer, Ben Jackson, has stated that SR Labs and Intercontinental Exchange teams finalized this transaction within a very short period of time, totalling just six weeks since contract signing. He stated, “ICE will continue to provide support services to SR Labs for a period of time to help ensure an orderly transition of the business.”
One key component of the Wombat product suite is SuperFeed, which is a managed, hosted market data feed service. It provides global exchanges coverage to traders and investors in a scalable solution, which is used by both algorithmic trading applications and individual trading desks. The product also offers direct Connectivity Connectivity Connectivity is defined as a term used for connecting devices to each other. In most cases, this refers to computer networking and more specifically includes bridges, routers, switches, gateways, and service as well as local networks. Connectivity can refer to simple forms, such as connecting a home or office to the internet or even connecting a digital camera to a computer or printer. Connectivity in FinanceConnectivity has taken on new meaning with the growth of fintech and Big Data collectio Connectivity is defined as a term used for connecting devices to each other. In most cases, this refers to computer networking and more specifically includes bridges, routers, switches, gateways, and service as well as local networks. Connectivity can refer to simple forms, such as connecting a home or office to the internet or even connecting a digital camera to a computer or printer. Connectivity in FinanceConnectivity has taken on new meaning with the growth of fintech and Big Data collectio Read this Term to a range of key global trading venues, such as BATS, CHI-X, Deutsche Borse, LSE, NASDAQ, NYSE and many others.