IntercontinentalExchange Buys Israeli Financial Data Firm SuperDerivatives

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IntercontinentalExchange Buys Israeli Financial Data Firm SuperDerivativesGlobal exchange and clearing house IntercontinentalExchange (ICE) has entered into an agreement to buy SuperDerivatives, an Israeli financial data and analytics firm.

SuperDerivatives produces data and analytics touching on OTC derivatives, though it has a chat platform that resembles that in Bloomberg terminals. The firm has about 250 workers on its payrolls and is run by its founder Dudi Gershon. Investors in the company include venture capital firms Accel and Pitango.

The Israel Venture Capital Association estimates that SuperDerivatives earns revenues of around $150 million per year.

The acquisition is probably in line with ICE’s goal of gaining a foothold in the profitable financial information market. Financial Times and Calcalist estimate the deal to be worth $350 million. Other companies that are interested in SuperDerivatives include NASDAQ OMX, Markit and CME Group.

Meanwhile leading derivatives market CME Group reported that trading volumes on Sept. 4 rose to a record-high in its FX options platform. FX options trading touched $32.4 billion in notional value, which translates o 231,307 contracts, exceeding the previous high of $26.1 billion (which equals 174,941 contracts), that it attained in May 5, 2010.

$30.7 billion, or roughly 94 percent of the options traded using electronic means on CME Globex exceeded the previous high of $18.2 billion attained on May 5, 2010.

Moreover, open interest in FX options rose by $6.7 billion on Thursday to touch a combined sum of $125.4 billion. In FX futures, traders transacted $149 billion in notional value, nearly twice its August 2014 average. To register for a free 2-week subscription to ForexMinute Premium Plan, visit www.forexminute.com/newsletter.

To contact the reporter of this story; Yashu Gola at yashu@forexminute.com