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$ICE General Update: Intercontinental Exchange announced that two new direct participants have been approved by ICE Benchmark Administration (IBA) to participate in the gold auction, which is used to determine the LBMA Gold Price. The new direct participants are Morgan Stanley and Standard Chartered.
$ICE and Blockstream, a leader in blockchain technologies and financial cryptography, have launched the Cryptocurrency Data Feed. ICE Data Services’ new feed offers real-time cryptocurrency information and will initially include data from more than 15 cryptocurrency exchange venues globally.
$ICE announced that Boudewijn Duinstra has joined ICE Clear Europe as Head of First Line Clearing Risk. Duinstra joins ICE Clear Europe from ABN AMRO Clearing Bank, a subsidiary of ABN AMRO Group, where he was Global Chief Risk Officer and also served on the board.
$ICE announced the results of the ICE Endex gas storage auction held on behalf of GasTerra. On Nov. 29, a total of 4,549,451 Standard Bundled Units (SBUs) for the contract period 2018/2019 were offered to the market and after 2 auction rounds, 4,549,451 SBUs were allocated. The outcome of the auction is an avg. weighted price per SBU of EUR 1.99.
$ICE, which provides data and listings services, has promoted President and CEO Charles Vice to the post of Vice Chairman, effective immediately. Benjamin Jackson, formerly Chief Commercial Officer of the company, has been named President. Also, Mark Wassersug has been appointed COO of Intercontinental Exchange. He was serving as SVP of Operations.
$ICE named Charles A. Vice as Vice Chairman. Prior to this he was the President and Chief Operating Officer. The company named Benjamin Jackson, former Chief Commercial Officer, as President. Mark Wassersug, SVP of Operations, has been named Chief Operating Officer.
$ICE said the American Depositary Shares of BEST Inc., a Chinese supply chain technology firm, began trading on the New York Stock Exchange under the ticker symbol BSTI. The company raised $450MM in gross proceeds and is the largest US IPO of a Chinese firm YTD. GTS is the NYSE Designated Market Maker (DMM) for the company’s shares.
$ICE has named Stuart Williams as President of ICE Futures Europe and Timothy J. Bowler as President of ICE Benchmark Administration, both effective Oct. 2017. Williams will assume the role following David Peniket’s retirement, and Bowler will succeed Finbarr Hutcheson. Hutcheson succeeds Paul Swann, President, ICE Clear Europe, on his retirement.
$ICE has priced an underwritten public offering of $1Bil in new senior notes, comprising $500MM in aggregate principal amount of 2.35% senior notes due 2022 and $500MM in aggregate principal amount of 3.10% senior notes due 2027. The offering is expected to close on Aug 17, 2017. $ICE intends to use the net proceeds for general corporate purposes.
$ICE said the NYSE enhanced its listing rules and services platform to attract Special Acquisition Companies (SPACs). The enhanced service offer has allowed for three SPAC listings in the past three months, TPG Pace Energy Holding’s $600MM listing, TPG Pace Holding Corporation’s $400MM listing and Hennessy Capital Acquisition III’s $225MM listing.
$ICE has entered into a definitive agreement to acquire the Global Research Index of Bank of America Merrill Lynch. The terms of the agreement have not been disclosed, and the transaction is expected to be completed in the second half of 2017. Upon closing, the BofAML Global Research FICC indices will become part of ICE Data Services.
$ICE generated operating cash flows of $611MM in 1Q17, the second highest quarter in its history. This enabled the company to significantly increase its share repurchases to $229MM and to increase its dividend 17% to $120MM, while continuing to invest in the company's growth initiatives.