ICE Executives In Institutional Investor List

Institutional Investor Magazine has named two ICE executives to its Online Finance 40 list. The annual ranking of "top executives and innovators in the world of financial technology" includes Jeff Sprecher, ICE Chairman and Chief Executive Officer, and Sunil Hirani, Chairman and Chief Executive Officer of Creditex, which was acquired by ICE in August 2008.
Institutional Investor's Online Finance 40 ranks the top executives and innovators in the world of financial technology. This year's ninth annual Online 40 listing highlights influential leaders in areas of e-finance such as electronic trading, banking, transaction processing and data management.

Sprecher's ranking as number 8 on the list moved him up 12 places over his number 20 spot on last year's list. Appearing on the list for the first time at number 34 is Hirani, whose innovative approach to the credit derivatives markets was a driving force in the acquisition by ICE.

"Jeffrey Sprecher has never been one to think small," leads off the paragraph detailing why he was selected. The entry details a series of acquisitions that have made ICE a multinational company. Sprecher is quoted in the entry: "A year ago we were an energy exchange; now we have Russell indexes, credit and OTC options. We are positioning ourselves to provide the data and tools" to address the continuing regulatory pressures for transparency in OTC markets.

The article describes Creditex, launched in 1999, as a "key intermediary in the burgeoning credit derivatives market." The entry on Hirani's ranking states: "Hirani has added some juice of his own, with a string of infrastructure-enhancing initiatives, including the 2005 formation of CDS affirmation subsidiary T-Zero; the 2006 acquisition of London-based CreditTrade, which strengthened Creditex's voice-electronic hybrid approach; and the 2007 introduction of the Q-WIXX electronic platform for trading large CDS portfolios." The entry also addressed ICE's acquisition of the firm: "Hirani says Creditex and ICE have a 'complementary ability' to help dealer clients as they face 'greater capital constraints, regulatory scrutiny, processing challenges and heightened focus on counterparty credit risk.'"