FOW’s Person of the Year for 2013 is Jeffrey Sprecher, the chief executive of the Intercontinental Exchange. William Mitting spoke with him to get his views on a monumental year for his exchange group.
In August 2011, Jeffrey
Sprecher was in good spirits after the release of
Intercontinental Exchange’s second quarter
results. ICE had just announced a 10% increase in year-on-year
revenues and a 19% increase in profit in spite of the turmoil
elsewhere in the market. However, it was a congratulatory
e-mail from a rival that buoyed him the most.
In May, his short-lived
attempt alongside Nasdaq to hijack Deutsche
Bourse’s bid for NYSE Euronext had collapsed
following a rejection of the deal by US competition
authorities. For Sprecher it was the second major failed
hostile bid after his unsuccessful attempt to snatch the CBOT
from under the grasp of CME in 2006.
The collapse of the NYSE
Euronext deal remained a disappointment for Sprecher but on
that warm August day, he was more focused on the impact of
regulatory reform on his customers than mega mergers. However,
an email from NYSE Euronext chief executive Duncan Niederauer
congratulating him on the results changed all that.
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