IntercontinentalExchange Inc. is a commodity-exchange operator, providing an online platform for global commodity trading of electricity, natural gas, crude oil, refined petroleum products, precious metals, and emission credits. The company, called ICE, also offers over-the-counter clearing and credit- and risk-management services and recently launched a European credit-default-swap clearing service. The Atlanta-based company has offices in New York, Chicago, Houston, Calgary, and Singapore.
ICE was named Derivatives Exchange of the Year for 2008 by Risk magazine for two years in a row. ICE was also named to the BusinessWeek 50 top-performing companies based on return on capital and revenue growth for the second consecutive year.
ICE announced that it expects to cut between 5% and 7% of its 800-person work force in the second quarter of 2009.