SuperDerivatives Acquisition Almost Confirmed - ICE Close on a $350 Million Deal

According to a report by the Financial Times, sources familiar with the matter have reported that the IntercontinentalExchange Group(ICE) has agreed to acquire Israeli global financial information and Execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term provider, SuperDerivatives.

As previously reported by Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term Magnates, the firm was rumored to be in discussions with a “large international company from the same field,” with the acquisition figure ranging between $300 and $400 million. According to the FT, the deal could be officially announced by the end of the day. The report states that ICE is going to pay $350 million in cash.

SuperDerivatives has been providing market data to ICE since December 2013, aiming to provide a deeper market to clients of the exchange who trade OTC and exchange-traded derivatives.

Back in 2008, the company’s CEO, David Gershon, estimated that the company would one day go public with a $1 billion IPO, but this never materialized. At the beginning of the year, the firm hired an investment bank to evaluate the possibility of a $500 million acquisition.

According to the FT’s sources, other companies interested in the Tel-Aviv based financial technology provider, included the CME Group, NASDAQ and recently publicly-listed company Markit.