ICE Acquires WhenTech
The IntercontinentalExchange has acquired New York-based options pricing and risk management provider WhenTech, which will operate as a wholly-owned subsidiary of the exchange.
Financial terms of the deal were not disclosed.
The acquisition is the culmination of a partnership that began in May of 2010 with ICE’s YellowJacket subsidiary providing WhenTech customers with pricing on option quotes disseminated over YellowJacket’s instant messaging platform, now known as ICE Chat.
The relationship expanded across the integrated ICE and ICE Chat platforms to scan the market for trading opportunities, respond to instant messaging quotes and execute orders, and then making these capabilities available to WebICE users as well.
This article was first published on Waters Technology