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ICE takes on competitors, lawmakers (Intercontinental Exchange)

ICE takes on competitors, lawmakers

Intercontinental Exchange, or ICE, is at the center of debate on the futures market, with some members of Congress calling for more trading restrictions. ICE chief Jeffrey C. Sprecher, however, contends the organization has brought more transparency to the sector and says new report requirements are unnecessary.

In 2003, the Intercontinental Exchange was such a small player in energy trading that its computer servers handled less than a fifth of the number of North American natural gas contracts that exchanged hands in the boisterous trading pits of the New York Mercantile Exchange.
How things have changed. In the first six months of this year, the exchange, known as ICE, handled about the same number of contracts as Nymex.

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posted by Victor Lloyd Smith @ 4:21 PM