IntercontinentalExchange Sells ICE Risk To SunGard
May 11 2009 - 10:00AM
Dow Jones News
IntercontinentalExchange Inc. (ICE), the second-largest U.S.
futures market, has sold its ICE Risk software application to
SunGard Data Systems Inc., officials at both companies confirmed.
They didn't disclose the terms.
ICE Risk displays price and trading position data to traders in
several commodities markets. Atlanta-based Intercontinental bought
it in 2007, when it was called Commoditrack.
Ben Jackson, chief operating officer of SunGard's Kiodex
division, said the service will give its customers information on
futures as well as less transparent over-the-counter commodity
markets, where fears about counterparty risk still abound after the
past year's financial turmoil.
SunGard, of Wayne, Pa., plans to rename the service Kiodex Real
Time, Jackson said.
-By Gregory Meyer, Dow Jones Newswires; 201-938-4377;
greg.meyer@dowjones.com