ICE acquires ChemConnect's commodity business
IntercontinentalExchange (ICE) has agreed to acquire ChemConnect’s commodity trading business. ChemConnect is an electronic marketplace for the $150billion US natural gas liquids (NGLs) and chemicals markets.
ChemConnect's NGL markets include products such as propane and ethane, while its chemicals business includes commodities such as ethylene, propylene and benzene. ChemConnect will transition its electronic markets to the ICE electronic trading platform, as well as transition the ChemConnect data business to ICE Data during the same period.
NGL prices are correlated with natural gas and crude oil prices, and, according to ICE, “these products are a natural extension to those products currently
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