Derivatives exchange of the year INTERCONTINENTAL EXCHANGE

Risk Awards 2006

In 2005, the Intercontinental Exchange (Ice) closed its open-outcry floor in London, maintained operations through two US hurricanes and transformed itself from a private company into a public one. The Atlanta-based energy exchange's controversial decision to recast its business has boosted volumes dramatically – prompting praise from one-time sceptics, and making it a worthy recipient of Risk's Derivatives Exchange of the Year Award.

"The change we're talking about – a very binary decision