ICE to buy Enron’s back-office architecture
Atlanta-based commodities market-place the IntercontinentalExchange (ICE) plans to acquire the assets of CommodityLogic, a collection of back-office software and hardware, from bankrupt energy trader Enron. The purchase and sale agreement is subject to final bankruptcy court approval.
"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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