In a move to expand services to Europe's energy markets, Intercontinental Exchange announced on Nov. 16 that it reached an agreement to acquire Trayport for $650 million. ICE bought the London-based company from BGC Partners, which acquired it as part of its takeover of GFI Group earlier in 2015.
Trayport licenses its technology platform to serve brokers for electronic and hybrid trade execution primarily in the European over-the-counter markets for power, natural gas, coal, emissions and other products. The deal enables ICE to provide a neutral platform with expanded services to the European OTC energy markets, including European power, natural gas and coal.
