Intercontinental Exchange To Sell Trayport To TMX Group - Quick Facts

(RTTNews) - Intercontinental Exchange (ICE) announced it has agreed to sell Trayport to TMX Group Limited in exchange for certain TMX Group assets and cash of 350 million pounds. In addition to cash, ICE will receive Natural Gas Exchange Inc. or NGX, and Shorcan Energy Brokers Inc. valued at a combined 200 million pounds. Trayport currently has approximately 240 employees in offices in London, New York and Singapore.

Lou Eccleston, CEO, TMX Group, said: "The acquisition of Trayport brings a proven team of product development, data, analytics and sales talent to TMX and immediately strengthens our global data and analytics business. From a strategic perspective, this transaction will significantly accelerate TMX's global expansion, increase the portion of our revenue from recurring sources and enhance the portfolio of analytics products in our Market Insights business."

Intercontinental Exchange and TMX Group have also entered into a non-binding memorandum of understanding agreeing to explore in the future further avenues for possible collaboration.