In little more than a decade Jeff Sprecher, the chief executive of the InterContinentalExchange has built up a global derivatives powerhouse. Elise Coroneos caught up with the man at the top of ICE.
In April, ICE made headlines across the world with its
joint bid for NYSE Euronext with the Nasdaq OMX Group. The deal
would have seen ICE capture NYSE’s derivatives
platform Liffe and expand its equity derivatives product
offering, long an ambition of the exchange. Sprecher had argued against the Deutsche
Börse offer citing the creation of a derivatives monopoly
in Europe, not to mention letting the Big Board fall into
However, the arguments fell on deaf ears and the deal
failed when the US Department of Justice blocked it over
concerns about the dominance of the group in US equity trading.
For Sprecher it was the second mega deal that had failed in
five years following on from his upstart bid for CBOT in which
he ultimately lost out to the CME in a frantic deal process
immortalised in Erica Olsen’s gripping account
Zero Sum Game.
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