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Intercontinental Exchange to sell Trayport to TMX

First Published 30th October 2017

Intercontinental Exchange announces sale of Trayport to TMX Group in exchange for £350m cash and NGX and Shorcan Energy

Atlanta and New York - Intercontinental Exchange has agreed to sell Trayport to TMX Group in exchange for certain TMX Group assets and cash of £350 million. In addition to cash, ICE will receive NGX and Shorcan Energy Brokers Inc. upon the completion of the transaction. In connection with the execution of the Agreements, ICE and TMX Group have also entered into a non-binding memorandum of understanding agreeing to explore in the future further avenues for possible collaboration.

Headquartered in Calgary, NGX provides electronic trading, central counterparty clearing and data services to the North American natural gas, electricity and oil markets. Shorcan Energy offers brokerage services for the North American crude oil markets.

The U.K. Competition and Markets Authority (CMA) has approved the sale of Trayport to TMX Group. The sale of NGX and Shorcan Energy to ICE is subject to regulatory approvals and notifications, and is anticipated to close in late 2017 or early 2018. ICE will provide more details on its third quarter earnings call on November 2, 2017.