IntercontinentalExchange(R), Inc. (NYSE: ICE), a leading operator of regulated global futures exchanges and over-the-counter (OTC) markets, has been named Derivates Exchange of the Year for 2008 by Risk magazine. 2008 marks the third year since 2005 that ICE has received this award.
An editorial panel at Risk, a leading financial risk management magazine, selected ICE as part of its annual awards. Among the factors considered were strengths in innovation, infrastructure, systems and organization, client service and risk management.
Jeffrey Sprecher, ICE Chairman and Chief Executive Officer, said: "ICE is honored to receive this award for 2008 which was a significant year of expansion for our business. We take great pride in innovation and in our ability to enhance our marketplace, which now includes a new London-based clearing house, CDS, a growing suite of cleared OTC products and the Russell Indexes."
In the magazine announcing ICE's award, Sprecher is quoted on ICE's growth amid challenges of the past year: "We were consciously trying to position ourselves in asset classes that would carry the most growth. One of the advantages of being a younger exchange is that we decided where we want to go, as opposed to inheriting something that has been around for a hundred years."
In addition, the Markit/Creditex portfolio compression platform for credit default swaps (CDS) was named Industry Platform of the Year by Risk. Creditex is a wholly-owned subsidiary of ICE.
To view the 2008 Risk award articles in their entirety, please visit the ICE website at http://ir.theice.com/awards.cfm .