| "There is a lot to be excited about in the evolution of markets and ICE’s role in it.” Those words from Jeffrey Sprecher, chairman and CEO of IntercontinentalExchange, may be just a bit understated. The 58-year-old has negotiated the biggest and most shape-shifting of exchange mergers: ICE’s $8.2 billion acquisition of NYSE Euronext, which he hopes to complete before year-end. “Foremost for us,” says Sprecher, “is to finalize the acquisition and hit the ground running to integrate our companies, unlock the significant shareholder value we see and bring benefits to our combined customer base.” The Big Board, with a history dating back to 1792, is being bought by a 13-year-old upstart — albeit an NYSE-listed one with a $12.7 billion market cap. Atlanta-based ICE, which Sprecher built after purchasing a regional power exchange in 1997, has set revenue and earnings records for seven straight years and is advantageously positioned in commodity and credit products. Oil benchmark ICE Brent Crude, for one, “for the first time outtraded” Nymex W T I futures in 2012, Sprecher notes. But, he adds, “ICE tends to focus on what’s next,” and that has much to do with investments in improved transparency and information flows. “Scalable, flexible technology is a baseline requirement for any exchange or clearinghouse,” he explains. “Our mandate is to leverage technology so our customers can execute on opportunities and strategies, operate efficiently and adapt to the complex rules and regulations impacting global markets.” | ||||||
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The 2013 Tech 50: Jeffrey Sprecher
'Foremost for us is to...unlock the significant shareholder value we see and bring benefits to our combined customer base,' says the IntercontinentalExchange CEO.
July 16, 2013
