Key Stats
- Founded: May 2000
- Headquarters: Atlanta, Georgia, USA
- Market Cap: $97.85 billion (January 2026)
- 2024 Revenue: $11.76 billion
- Employees: 12,844
Intercontinental Exchange, Inc. (ICE) is an American multinational financial services company that operates global exchanges, clearing houses, and provides mortgage technology, data, and listing services. The company owns the New York Stock Exchange, the world’s largest stock exchange by total market capitalization of listed companies.
ICE operates 12 regulated exchanges and marketplaces across the United States, Canada, and Europe. The company also runs six central clearing houses. Listed on the Fortune 500, S&P 500, and Russell 1000, ICE has grown from a small energy trading startup to one of the largest financial infrastructure providers globally.
Intercontinental Exchange History
Jeffrey C. Sprecher purchased Continental Power Exchange, Inc. for $1 to develop an internet-based trading platform for electric power companies.
Intercontinental Exchange officially launched its electronic trading platform with backing from Goldman Sachs, Morgan Stanley, BP, Total, Shell, and Deutsche Bank.
Acquired the International Petroleum Exchange (IPE), now ICE Futures Europe, expanding into futures trading and gaining the Brent crude oil contract.
ICE became a publicly traded company on the New York Stock Exchange. The entire energy futures portfolio transitioned to fully electronic trading.
Acquired the New York Board of Trade (NYBOT) for $1.1 billion and ChemConnect. Made an unsuccessful $9.9 billion bid for the Chicago Board of Trade.
Acquired Creditex Group for $625 million. Formed ICE Trust (now ICE Clear Credit) to clear credit default swaps in response to the financial crisis.
Completed the $8.2 billion acquisition of NYSE Euronext, gaining ownership of the New York Stock Exchange and transforming ICE into a global exchange powerhouse.
Acquired Ellie Mae from Thoma Bravo for $11 billion, the largest acquisition in ICE history at that time, creating ICE Mortgage Technology.
Completed the $11.9 billion acquisition of Black Knight after FTC approval, strengthening its mortgage technology segment.
Acquired the American Financial Exchange (AFX) and announced a $2 billion investment in Polymarket at an $8 billion valuation.
Intercontinental Exchange Co-founders
Jeffrey C. Sprecher
Founder, Chairman, and CEO of ICE. A power plant developer who bought Continental Power Exchange in 1997 and built it into a global financial infrastructure company.
Chuck Vice
Co-founder who helped launch the electronic trading platform in May 2000 alongside Sprecher, contributing to the technical foundation of ICE.
The founding was backed by major financial institutions and energy companies including Goldman Sachs, Morgan Stanley, BP, Total, Shell, Deutsche Bank, and Société Générale. These strategic investors provided both capital and trading volume to establish the platform.
Intercontinental Exchange Revenue
ICE has delivered consistent revenue growth over the past decade. In 2024, the company reported total revenue of $11.76 billion, an 18.8% increase from 2023. This growth was driven by record trading volumes and contributions from the Black Knight acquisition.
The company operates through three segments: Exchanges, Fixed Income and Data Services, and Mortgage Technology. The Exchanges segment contributed the largest share of revenue through transaction and clearing fees. Fixed Income and Data Services generates recurring revenue from pricing data, analytics, and indices. Mortgage Technology has grown substantially following the Ellie Mae and Black Knight acquisitions.
Intercontinental Exchange Competitors
ICE competes across multiple segments including exchange operations, data services, and mortgage technology. In the exchange space, the company faces competition from other major operators that provide trading and clearing services for derivatives, equities, and commodities.
| Company | Headquarters | Primary Focus |
|---|---|---|
| CME Group | Chicago, USA | Derivatives, Interest Rates, Commodities |
| Nasdaq | New York, USA | Equities, Technology, Market Data |
| Cboe Global Markets | Chicago, USA | Options, Volatility Products |
| Deutsche Börse Group | Frankfurt, Germany | Derivatives, Securities Services |
| London Stock Exchange Group | London, UK | Equities, Fixed Income Data |
| Euronext | Amsterdam, Netherlands | European Equities, Derivatives |
| S&P Global | New York, USA | Ratings, Indices, Analytics |
| Bloomberg L.P. | New York, USA | Financial Data, Terminal Services |
| FactSet Research Systems | Norwalk, USA | Financial Data, Analytics |
| MSCI Inc. | New York, USA | Indices, ESG Ratings, Analytics |
Intercontinental Exchange Marketcap
ICE’s market capitalization reached approximately $97.85 billion in January 2026. Since its IPO in November 2005, the company has grown its market value at a compound annual rate of over 20%, reflecting consistent expansion through organic growth and acquisitions.
Intercontinental Exchange Acquisitions
ICE has pursued an aggressive acquisition strategy since its founding, transforming from an energy trading platform into a diversified financial infrastructure company. The company has completed over 30 acquisitions across exchange operations, data services, and mortgage technology.
The 2013 acquisition of NYSE Euronext for $8.2 billion gave ICE ownership of the New York Stock Exchange, the world’s largest stock exchange by market capitalization of listed companies. This deal transformed ICE from an energy-focused exchange into a major player in equity markets.
In mortgage technology, ICE built its segment through a series of deals. The company acquired MERS (Mortgage Electronic Registrations Systems) in 2018, Simplifile for $335 million in 2019, and Ellie Mae for $11 billion in 2020. The 2023 acquisition of Black Knight for $11.9 billion, the largest deal in company history, further consolidated ICE’s position in mortgage services.
Other notable acquisitions include the International Petroleum Exchange in 2001, the New York Board of Trade in 2007, Creditex Group in 2008 for credit default swaps clearing, and Climate Exchange PLC in 2010 for carbon trading. In 2016, ICE acquired pricing and analytics assets from S&P Global to expand its data services business.
The company’s acquisition of the American Financial Exchange in January 2025 added direct lending and borrowing capabilities for American banks. Later that year, ICE announced a $2 billion investment in Polymarket, entering the prediction markets space.
FAQs
Who founded Intercontinental Exchange?
Jeffrey C. Sprecher founded ICE in 2000 alongside Chuck Vice. Sprecher remains the company’s Chairman and CEO. The founding was backed by Goldman Sachs, Morgan Stanley, BP, Shell, and Deutsche Bank.
Does ICE own the New York Stock Exchange?
Yes, ICE acquired NYSE Euronext in 2013 for $8.2 billion. This made ICE the owner of the New York Stock Exchange, the world’s largest stock exchange by total market capitalization of listed companies.
What are the three segments of Intercontinental Exchange?
ICE operates through three segments: Exchanges (trading and clearing), Fixed Income and Data Services (pricing, analytics, indices), and Mortgage Technology (loan origination and servicing platforms).
Where is Intercontinental Exchange headquartered?
ICE is headquartered in Atlanta, Georgia, USA. The company was founded in Atlanta and maintains its global headquarters there, though it operates offices worldwide including New York and London.
What was ICE’s largest acquisition?
ICE’s largest acquisition was Black Knight in 2023 for $11.9 billion. This deal expanded ICE’s mortgage technology capabilities and followed the $11 billion acquisition of Ellie Mae in 2020.
