The company that controls the New York stock exchange has hired leading investment bankers to sell a British energy trading business said to be worth up to £500m. Intercontinental Exchange (ICE) is said to be working with Goldman Sachs on the disposal of Trayport — a London-based software developer that connects traders, brokers and businesses to the energy market’s electronic trading systems. The Trayport sale follows a dispute with the Competition and Markets Authority (CMA) over ICE’s ownership of the business. Last October the authority ordered ICE to sell it, immediately after it had been bought from brokers BGC and GFI for $650m (£500m). ICE declined to comment.

Source: The Times August 26, 2017 23:02 UTC