ICE to acquire Chatham Energy Partners
IntercontinentalExchange (ICE) has agreed to acquire Chatham Energy Partners, a brokerage firm that specialises in structuring and facilitating transactions in the over-the-counter (OTC) markets for energy options
The new business will be operated as a wholly owned subsidiary of ICE, called Chatham Energy. Chatham's clients include large commercial energy firms, utilities and financial institutions.
"By bringing experienced options professionals in-house, we can more effectively execute on our strategy to build our electronic options business," says ICE chairman and CEO Jeffrey Sprecher.
ICE expects to complete the acquisition during October and expand its electronic OTC options on natural gas during the
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