ICE to buy Enron’s back-office architecture

The CommodityLogic system consists of a central data hub, which connects to modules that perform specific tasks related to back-office functions. These modules include ConfirmLogic, which allows users to confirm trades online; InvoiceLogic, a system that verifies and matches invoices automatically; BankLogic, which provides early payment options for normally scheduled payments; and DocSwapLogic, a service that allows users to share, manage and electronically sign trade-related documents online.

"The acquisition of CommodityLogic will provide Intercontinental's global customer base with access to an expanded suite of back-office services for over-the-counter energy and metals trading," said Jeffrey Sprecher, ICE chief executive. "The services offered by CommodityLogic complement our existing eConfirm service."

ICE’s eConfirm is a digital confirmation service used to provide post-trade legal confirmations for over 150 products commonly traded in the energy and metals market-place.

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Next-generation technologies and the future of trading

At a webinar in association with capital markets technology provider Numerix, panellists discuss the potential for increased adoption of the public cloud to boost investment performance, its impact on risk management and overcoming barriers to…

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