ICE aims to sell energy and metals market data

The Intercontinental Exchange (ICE), the Atlanta-based electronic commodity and derivatives market, aims to sell price data and other information services to the energy and metals markets.

ICE has appointed Martin Wadhwani, formerly head of commodities and energy at Reuters, to develop its new market data services division. An ICE spokesman said Wadhwani's job will be to create value from the masses of data generated by the exchange. But a business model has yet to be decided on, and the spokesman said the specific commercial value of the data was not yet known.

Wadhwani, who will start at ICE in London on Monday, said: “Existing volume levels support the publishing of daily marked-to-market settlement prices for forward markets as well as further expansion of ICE’s current index offerings.”