NYSE Operator Bolsters Risk Management Services

NEW YORK (The Deal) -- Financial markets operator IntercontinentalExchange Group  said Friday that it will pay $350 million for risk management analytics and derivatives trading technology provider SuperDerivatives.

IntercontinentalExchange chairman and CEO Jeffrey Sprecher said the purchase would improve its ability to clear trades and expand risk management services.

The technology deal follows large scale changes by the owner of the New York Stock Exchange, ICE Futures and London commodities, futures and options exchange Liffe.

IntercontinentalExchange closed the purchase of NYSE Euronext for $11 billion last year. The company divested European exchanges operator Euronext in June as a concession to regulators. Through a sale of stock to institutional investors and an initial public offering of Euronext, the spin off provided IntercontinentalExchange with €1.4 billion ($1.9 billion) in proceeds.

Also in June, the company sold data management software company Wombat Financial Software to SR Labs.

Shares of IntercontinentalExchange gained 69 cents, or 0.4%, to $186.31 on Friday.

IntercontinentalExchange and New York-based SuperDerivatives expect to close the deal in the fourth quarter of 2014.

Joel Fleck and Henry Sham of Barclays  (BCS) advised SuperDerivatives, which received counsel from White & Case.

Greenberg Traurig advised IntercontinentalExchange.

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