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ICE acquisition Ballista to expand devatives capabilities

Atlanta, 25 February 2011

IntercontinentalExchange, a leading operator of regulated global futures exchanges, clearing houses and over-the-counter (OTC) markets today announced it has acquired Ballista Securities (Ballista). Ballista is a registered broker/dealer that offers an electronic options platform for the execution of block-sized and complex multi-leg options transactions.

 

Ballista will augment ICE's existing initiatives in the options market, which began with YellowJacket's entry into the off-exchange negotiated market last year.

 

YellowJacket, a wholly owned subsidiary of ICE, is a leading options negotiation platform. The Ballista system will be incorporated into the YellowJacket workflow allowing easier access to Ballista's technology and providing customers with a platform that offers seamless connection to an array of electronic systems and liquidity sources.

Said YellowJacket CEO Jacob Pechenik: "As ICE continues to introduce efficiencies and additional tools for the negotiated options market, the acquisition and integration of Ballista with YellowJacket is an important step in serving these markets."

Ballista will be operated as a wholly owned subsidiary of ICE. Terms of the transaction were not disclosed.

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