Spark Commodities, the fast-growing provider of technology-based solutions that promote price transparency in commodity markets, announced today that it has received investment from Intercontinental Exchange, Inc., a leading global provider of data, technology and market infrastructure. ICE becomes the second minority shareholder alongside EEX, a subsidiary of the Deutsche Boerse AG exchange group, and joins the founding shareholder Kpler Ventures SCSp. Kpler Ventures is an ecosystem venture fund setup by the Kpler co- founders.
“Since we launched nearly three years ago, we've focused on building an organisation that, through the platform and our assessments, provides transparency and insight for our customers. Having ICE as a shareholder and investor gives us an ability to do this on a larger scale, allowing us to be relentlessly focused on solving the problems our customers face,” said Tim Mendelssohn, CEO of Spark.
The investment in Spark by ICE follows the launch of ICE LNG Freight Futures contracts in March 2021, which are based on Spark's LNG freight spot price assessments. ICE's investment will help Spark to continue to focus on building products that help the energy market to better manage price risk and gain greater transparency.
About Spark Commodities (Spark)
Spark Commodities is focused on providing technology-based solutions that promote liquidity in the LNG market. Spark wants to redefine how commodity prices are understood. With a strong technical background, support from major industry players and commercial experience trading in the LNG market, Spark aims to provide a meaningful and robust index that allows the market to manage price risk whilst benefiting from the increased levels of transparency that our platform provides. Empowering Trade, Together.
About Intercontinental Exchange
Intercontinental Exchange, Inc. is a Fortune 500 company that designs, builds and operates digital networks to connect people to opportunity. We provide financial technology and data services across major asset classes that offer our customers access to mission-critical workflow tools that increase transparency and operational efficiencies. We operate exchanges, including the New York Stock Exchange, and clearing houses that help people invest, raise capital and manage risk across multiple asset classes. Our comprehensive fixed income data services and execution capabilities provide information, analytics and platforms that help our customers capitalize on opportunities and operate more efficiently. At ICE Mortgage Technology, we are transforming and digitizing the U.S. residential mortgage process, from consumer engagement through loan registration. Together, we transform, streamline and automate industries to connect our customers to opportunity.
Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located here. Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading “Key Information Documents (KIDS).”
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 -- Statements in this press release regarding ICE's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2020, as filed with the SEC on February 4, 2021.
The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.
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