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86-512: The IPE was acquired by the Intercontinental Exchange in 2001. The IPE was an open outcry exchange until 7 April 2005, when its name was changed to ICE Futures and all trading was shifted onto an electronic trading platform . Until the 1970s, the price of oil was relatively stable with production largely controlled by the biggest oil companies. During that decade two oil price shocks led to continued price volatility in

172-528: A geospatial and climate data modeling start-up company, after announcing partnerships with the company to develop climate risk and ESG analytics models for municipal bond markets in January 2020 and mortgage-backed securities markets in March 2021. In May 2022, ICE announced that it had entered into a definitive agreement to acquire Black Knight, Inc. , a software, data and analytics company that serves

258-758: A New York investment bank that specialized in the health care, technology and communications industries. Cowen was taken over by the Societe Generale Securities Corporation, the French bank's New York investment bank, and renamed the SG Cowen Securities Corporation. Joseph M. Cohen, Cowen's chief executive became its chairman, and Curtis R. Welling, an investment banker from Societe Generale's New York office became president and chief executive. In 1998, Société Générale set up Retail Banking outside France as

344-654: A backdrop of tougher competition. During the 1st quarter 2004, the third branch of activity of the Société Générale Group, GIMS Global Investment Management and Services was created. In February 2004, Société Générale set up a new division named SG GSSI, Global Securities Services for Investors, which provides investor services on securities and derivatives, attached to the GIMS which regroups SG Asset Management, SG Private Banking and SG Global Securities Services for Investors. GIMS employed 7,600 people. In 2005,

430-462: A counter-bid of their own for NYSE Euronext. ICE was thought to be looking to acquire the American exchange's derivatives business, Nasdaq its cash equities business. As of the time of the speculation, "NYSE Euronext's market value was $ 9.75 billion. Nasdaq was valued at $ 5.78 billion, while ICE was valued at $ 9.45 billion." Late in the month, Nasdaq was reported to be considering asking either ICE or

516-490: A definitive agreement to acquire Interactive Data Corporation (IDC), a provider of financial market data, analytics, from Silver Lake , involved in technology investing, and Warburg Pincus, a private equity firm focused on growth investing. The acquisition was valued at approximately $ 5.2 billion, including $ 3.65 billion in cash and $ 1.55 billion in ICE common stock, and builds on ICE's global market data growth strategy by expanding

602-472: A department created in mid-2001 , the purchase of two Deutsche Bank subsidiaries, ALD Automotive for multi-brand auto leasing and financing and GEFA for corporate sales financing enabled Société Générale to increase its European presence in these sectors. In 2002, it continued to pursue its external growth strategy by purchasing Hertz Lease, a European subsidiary specializing in long-term leasing and fleet management for Ford Motor Company vehicles. With

688-760: A dominant position in the national market, Société Générale agreed to create a bank with a different name, the Société Française de Banque et de Dépôts headquartered in Paris but entirely dedicated to operations in Belgium. The bank had its Brussels office from 1898 in the prestigious Hôtel de Ligne  [ fr ] on Rue Royale , and also maintained a branch in Antwerp , at No.72-76 of Meir . By 1913, Société Générale had 122,000 shareholders. The war years were difficult and had serious consequences with

774-602: A family of fixed income volatility indices, including the prominent Merrill Lynch Option Volatility Estimate (“MOVE”) family of indices. In October 2017, ICE announced it had acquired a 4.7% stake in Euroclear for EUR 275 million. ICE anticipates having one representative join the Board of Euroclear. Euroclear is a leading provider of post-trade services, including settlement, central securities depositories and related services for cross-border transactions across asset classes. It

860-504: A limited-purpose bank, a clearing house for credit default swaps . Sprecher worked closely with the Federal Reserve to serve as its over-the-counter (OTC) derivatives clearing house. "US regulators were keen on the kind of clearing house for opaque over-the-counter (OTC) derivatives as a risk management device. In the absence of a central counterparty – which would guarantee pay-outs should a trading party be unable to do so – there

946-548: A period of economic gloom marked by the failure of several banking establishments. The company continued to grow at a more moderate pace. In 1889, there were 148 banking outlets, demonstrating the group's capacity to withstand unfavourable economic conditions. Starting in 1894, the bank set up the structures characterising a large, modern credit institution. As well as collecting company and private deposits, its branches started to provide short-term operating credits for industrialists and traders. It also moved into placing shares with

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1032-649: A portfolio company of Thoma Bravo , a leading private equity investment firm, valued Ellie Mae at approximately $ 11 billion. The deal, following ICE's taking a majority stake in MERS in 2016, purchasing the remainder in 2018, and acquiring Simplifile in 2019, made ICE and its growing ICE Mortgage Technology a leading provider of end-to-end electronic workflow products for the U.S. residential mortgage industry. The transaction completed successfully in September 2020 after regulatory approval. In December 2021, ICE acquired risQ,

1118-452: A range of clearing and execution services on listed or OTC derivatives and cash products. In 2005, Fimat completed the acquisition of Cube Financial. In January 2008, it merged with Calyon Financial to form Newedge ; in 2014, SG purchased Credit Agricole's stake. In subsequent years, the Société Générale Group has focused on developing its activities around three core businesses through a combination of organic growth and acquisitions. In

1204-699: A retraction and its apologies but, despite that, the rumour gathered pace, notably on social networks, resulting in a spectacular fall in Société Générale's share price and in bearish speculation. Société Générale successfully filed a suit in the UK against Associated Newspapers (the Mail on Sunday' s parent company) for "substantial damage to its reputation and prejudice to its trade". Bearish pressure, influenced by speculation but also by investor suspicion, continued to affect Société Générale's share price through to

1290-415: A selective basis, in the different international financial centres. On 29 July 1987 Société Générale was privatised. It had been chosen from among the three leading French commercial banks nationalised in 1945 for its excellent risk-coverage, equity and productivity ratios. George Soros was a share-holder in 1988. In 1986, Société Générale created Fimat International Banque S.A., a global brokerage, offering

1376-631: A separate division, underscoring the Group's resolve to make this business one of its strategic development axes. This activity was also strengthened in 1999 through the acquisitions made in Romania (BRD – Groupe Société Générale), Bulgaria ( Société Générale Expresbank ) and Madagascar . In the early years of the 21st century, Société Générale's external growth strategy has been manifested through acquisitions in Central Europe ( Komerční Banka in

1462-494: A track record as leader in France for financial savings products (mutual funds, investment funds, company savings plans), the Group has developed its Asset Management and Private Banking activities: in 1999, its subsidiary, Société Générale Asset Management , pursued the strategy of developing both its mutual fund management business in France and its activities aimed at major institutional investors at an international level. With

1548-483: A wider range of energy products. More advanced transactions are also now possible, due to cross- and multi-product transactions, which eliminate the need to use multiple markets or an adviser. Intercontinental Exchange Intercontinental Exchange, Inc. ( ICE ) is an American multinational financial services company formed in 2000 that operates global financial exchanges and clearing houses and provides mortgage technology, data and listing services. Listed on

1634-635: A working capital adjustment to be finalized at closing. Upon the closing of the transaction, Creditex Group became a wholly-owned subsidiary of ICE, operating under the Creditex name. In January 2008, ICE partnered with Canada's TSX Group 's Natural Gas Exchange, expanding their offering to clearing and settlement services for physical OTC natural gas contracts. In April 2010, ICE acquired Climate Exchange PLC for 395 million pounds ($ 622 million) and European Climate Exchange (ECX) as part of its purchase. Exchange-traded emissions products were first offered by

1720-525: Is a French multinational universal bank and financial services company founded in 1864. It is registered in downtown Paris and headquartered nearby in La Défense . Société Générale is France's third largest bank by total assets after BNP Paribas and Crédit Agricole . It is also the sixth largest bank in Europe and the world's eighteenth. It is considered to be a systemically important bank by

1806-430: Is a fixed income marketplace, supporting anonymous trading in various asset classes including Municipals, Corporates, Treasuries, Agencies and Certificates of Deposit. The transaction is expected to close in the second half of 2018, subject to customary regulatory and anti-trust approvals, and is not expected to materially impact 2018 financial results or capital returns. In October 2018, ICE announced that it had acquired

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1892-614: Is based in Provo, Utah and has no debt. The transaction is expected to close in the third quarter of 2019. Upon closing, Simplifile, which has approximately 200 employees, will continue to be based in Provo and operate under the Simplifile name. In August 2020, ICE announced that it had entered into a definitive agreement to acquire Ellie Mae , a cloud-based platform provider for the mortgage finance industry. The transaction with Ellie Mae,

1978-649: Is set to retire in 2021 and leave his place by the end of this year. Additionally, Philippe Heim, who serves as the head of international retail banking, financial services, and insurance, will also vacate his position as deputy chief executive immediately. In December 2013, the European Commission fined the bank close to 446 million Euro for its role in the LIBOR scandal regarding interest rate derivatives. In December 2021, Amundi finalized its acquisition of Lyxor Asset Management from Société Générale. Lyxor

2064-523: Is understood ICE increased its stake to 10% in early 2018. In October 2017, ICE announced it had entered into an agreement to acquire Virtu BondPoint from Virtu Financial for $ 400 million in cash. The acquisition was reportedly completed on January 2, 2018, as announced by ICE. BondPoint is an integrated, automated platform offering additional fixed income execution services and one of the broadest sets of fixed income instruments. In April 2018, ICE announced that it had entered into an agreement to acquire

2150-624: The Financial Post warned that the "$ 54000bn credit derivatives market faced its biggest test in October 2008 as billions of dollars worth of contracts on now-defaulted derivatives would be auctioned by the International Swaps and Derivatives Association . In his article in the Financial Post , he described ICE as a "US-based electronic futures exchange" which raised the stakes on October 30, 2008, in its effort to expand in

2236-1126: The Fortune 500 , S&P 500 , and Russell 1000 , the company owns exchanges for financial and commodity markets, and operates 12 regulated exchanges and marketplaces. This includes ICE futures exchanges in the United States, Canada, and Europe; the Liffe futures exchanges in Europe; the New York Stock Exchange ; equity options exchanges; and OTC energy, credit, and equity markets. ICE also owns and operates six central clearing houses : ICE Clear U.S., ICE Clear Europe, ICE Clear Singapore, ICE Clear Credit , ICE Clear Netherlands, and ICE NGX. ICE has offices in Atlanta , New York , London , Chicago , Bedford , Houston , Winnipeg , Amsterdam , Calgary , Washington, D.C. , San Francisco , Pleasanton , Tel Aviv , Rome , Hyderabad , Singapore , and Melbourne . Jeffrey Sprecher

2322-460: The Bastille Day holiday, a meticulously planned robbery was carried out against Société Générale's most heavily fortified vault in France by ex-paratrooper and wedding photographer Albert Spaggiari . The robbery which involved secretly tunneling underground and compromising the walls of the bank vault netted Spaggiari over 12 million in cash, jewellery, and bullion. From the beginning of

2408-548: The Chicago Climate Exchange (CCX) to host its electronic marketplaces. In April 2005, the entire ICE portfolio of energy futures became fully electronic and ICE closed International Petroleum Exchange 's high profile and historic trading floor. ICE became a publicly traded company on November 16, 2005, and was added to the Russell 1000 Index on June 30, 2006. The company expanded rapidly in 2007, acquiring

2494-483: The Chicago Mercantile Exchange (CME) to join in what would probably be an $ 11–12 billion counterbid for NYSE. On April 1, ICE and Nasdaq made an $ 11.3 billion offer which was rejected April 10 by NYSE. Another week later, ICE and Nasdaq sweetened their offer, including a $ .17 increase per share to $ 42.67 and a $ 350 million breakup fee if the deal were to encounter regulatory trouble. The two said

2580-578: The Chicago Stock Exchange (CHX), a full-service stock exchange, including trading, data and corporate listings services. The transaction is expected to close in the second quarter of 2018, subject to regulatory approvals. Terms of the transaction were not disclosed, and the financial impact will not be material to ICE or impact capital return plans. In May 2018, ICE announced that it had entered into an agreement to acquire TMC Bonds LLC for $ 685 million in cash. Established in 2000, TMC Bonds

2666-717: The Competition Appeal Tribunal (CAT), but the CAT upheld the CMA's decision. As a result, ICE sold Trayport to TMX Group in October 2017, in exchange for certain TMX Group assets and cash of £350 million. The CMA's ruling against ICE was the first time CMA had required that a company sell an asset that it had already bought. In March 2016, ICE agreed to acquire Standard & Poor's Securities Evaluations, Inc. (SPSE) and Credit Market Analysis (CMA), two assets under

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2752-628: The Czech Republic and SKB Banka  [ sl ] in Slovenia ) in 2001. Investment banking at Societe Generale in Russia was run by Jacques Der Megreditchian until 2000 At that time, Société Générale became officially concerned with money laundering scandal and underground economy . In 2001, Société Générale acquired a controlling interest in the TCW Group. The TCW Group , which

2838-658: The Financial Stability Board . It has been designated as a Significant Institution since the entry into force of European Banking Supervision in late 2014, and as a consequence is directly supervised by the European Central Bank . From 1966 to 2003 it was known as one of the Trois Vieilles ("Old Three") major French commercial banks, along with Banque Nationale de Paris (from 2000 BNP Paribas ) and Crédit Lyonnais . The bank

2924-478: The Krivoi-Rog Iron Company . The 1930s were another difficult period. Given the decline in international and French business, the bank was forced to nationalise its network by closing down local branches. On the eve of World War II , the number of sales outlets was not much greater than in 1922. However, Société Générale was active in placing numerous public loans launched during this period by

3010-652: The New York Board of Trade (NYBOT), and ChemConnect (a chemical commodity market). In March 2007 ICE made an unsuccessful $ 9.9 billion bid for the Chicago Board of Trade , which was instead acquired by the CME Group . IntercontinentalExchange Inc., the "upstart Atlanta-based energy bourse" purchased the privately held 120-year-old Winnipeg Commodity Exchange , known for its canola futures contract, for $ 40 million. The Winnipeg Commodity Exchange (WCE)

3096-543: The S&;P Global Market Intelligence business unit from McGraw Hill Financial . Most terms of the agreement were not disclosed. In October 2016 it had completed its all-cash acquisition. In February 2017, ICE announced it had entered an agreement to acquire TMX Atrium, an extranet and wireless services business from TMX Group. Terms of the agreement were not disclosed, and the transaction is expected to close within 90 days, subject to regulatory approvals. The financial impact of

3182-484: The $ 54000 bn credit derivatives market.( Weitzman 2008 ) By 2010, Intercontinental Exchange had cleared more than $ 10 trillion in credit default swaps (CDS) through its subsidiaries, ICE Trust CDS (now ICE Clear Credit). By 2017 Intercontinental Exchange had been named to the Fortune Future 50 determining the top 50 companies that are best positioned to adapt and deliver growth in a complex environment. ICE

3268-412: The 1980s, against a backdrop of deregulation and technological change, internationalisation of the markets and the emergence of new financial instruments, Société Générale set itself two commercial objectives. It focused increasingly on private customers via its network of branches and by acquiring specialised subsidiaries. It pursued and expanded its activities in the capital markets in France, and then, on

3354-511: The Bank presented its Ambition SG 2015 programme to investors, the aim of this programme being to "deliver growth with lower risk" by 2015, using the lessons learned from the crisis. In 2010, the company saw an upturn in its financial results. Over the first half, the Group recorded net income of €2.15 billion. These good figures were presented shortly after the publication of the results of the stress tests of 91 European banks, results that confirmed

3440-710: The European Climate Exchange (ECX), which was established in 2005, by listing products on the ICE Futures Europe's trading platform. ICE Futures Europe is the leading market for carbon dioxide (CO 2 ) emissions . ICE's ECX products comply with the requirements of the European Union Emission Trading Scheme . In February 2011, in the wake of an announced merger of NYSE Euronext with Deutsche Börse , speculation developed that ICE and Nasdaq could mount

3526-520: The European utility markets. Approximately 70%-80% of European utility trades flow through its platform. Following the acquisition, the Competition and Markets Authority (CMA) called in the merger for review. In October 2016 it announced its decision to require ICE to sell Trayport, having ruled that the merger could lead to a substantial lessening of competition. ICE challenged the decision in

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3612-553: The Federal Trade Commission (the “FTC”) regarding their pending acquisition of Black Knight. The ACCO contains an agreed form of consent order that will be submitted to the FTC for acceptance and approval. Based on a previously announced Timing Agreement entered into among ICE, Black Knight and the FTC on August 6, 2023, ICE was permitted to complete its acquisition of Black Knight following 11:59 p.m. Eastern Time on

3698-648: The IPE has moved location several times to accommodate new pits and more traders. The Exchange has experienced incremental growth, year-on-year for most of its history. Complexity, but also efficiency have increased as new trading instruments such as swaps , futures, and options have been developed. Since 1997, the ICE Futures has expanded its offerings from Brent Crude and Gas Oil to include Natural Gas (1997), Electricity (2004), and ECX carbon financial instruments (2005). These expansions have allowed ICE Futures to offer

3784-598: The IntercontinentalExchange platform. IntercontinentalExchange maintained an office and "small core staff" in Winnipeg, Manitoba. The Manitoba Securities Commission oversee its operations. In June 2008, ICE announced that it had entered into a definitive merger agreement to acquire Creditex Group Inc. (Creditex). The transaction consideration totaled $ 625 million comprising approximately $ 565 million in ICE common stock and $ 60 million in cash, as well as

3870-645: The MERS System infrastructure to the ICE Mahwah data center, an integral requirement for completing the final acquisition of the business. The price and terms of the transaction were not disclosed and will not be material to ICE's earnings or have an impact on capital return plans. In May 2019, ICE announced that it had agreed to acquire Simplifile, LC. Simplifile operates a network connecting agents and jurisdictions involved with residential mortgage records. ICE will pay $ 335 million to acquire Simplifile, which

3956-580: The Nasdaq and ICE withdrew their bid. The European Commission then blocked the Deutsche merger on February 1, 2012, citing the fact that the merged company would have a near monopoly. In December 2012, ICE announced it would buy NYSE Euronext (this time without the involvement of Nasdaq) for $ 8.2 billion, pending regulatory approval. Jeffrey Sprecher will retain his position as chairman and CEO. The boards of directors of both ICE and NYSE Euronext approved

4042-912: The Russo-Asian Bank, one of the leading bank of the Russian empire. Société Générale first settled in Russia through the Severnyi bank in 1901, before merging with the Russo-Asian bank in 1910, which held a majority stake in the Chinese Eastern Railway . It also invested in Russian industry including such companies as the Rutchenko Coal Company and the Makeevka Steel Company . Thanks to the connections of Talabot they were also involved in

4128-485: The Société Générale acquired DeltaCredit, the largest mortgage bank in Russia, from The U.S. Russia Investment Fund for $ 100 million. The Société Générale developed its Corporate and Investment Banking businesses under the SG CIB brand name, introduced in 1998, which as of 2014 is subsumed by SG SS. Bolstered by a sound client base and a recognised capacity for innovation borne out by the league tables , Société Générale

4214-586: The State or the colonies. The war and the German Occupation interrupted its advance, but the bank moved into Africa and the United States. Société Générale was nationalised in 1945. It now had a single shareholder: the State. The period from 1945 to 1958 was characterised in France by rapid economic recovery but also a greater disequilibrium in the balance of payments, calling for continued exchange controls and virtually permanent credit control measures. It

4300-633: The acquisition of other exchanges, a number of these have been successful while others have failed due to concerns by regulators or others that the new company would have created a monopoly situation. The major acquisition and attempted acquisitions have included: In June 2001, ICE expanded its business into futures trading by acquiring the London-based International Petroleum Exchange (IPE), now ICE Futures Europe, which operated Europe's leading open-outcry energy futures exchange. Since 2003, ICE has partnered with

4386-434: The acquisition, which took place in 2013. In 2014, ICE spun off Euronext, keeping NYSE and LIFFE , renaming it ICE Futures Europe. In September 2014, ICE announced that it had agreed to acquire SuperDerivatives , a provider of risk management analytics, financial market data and valuation services. SuperDerivatives was purchased for $ 350 million on October 7, 2014. In October 2015, ICE announced that it had entered into

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4472-520: The bank had 47 branches throughout France, including 15 in Paris. It set up a permanent office in London in 1871. At the beginning, the bank used its own resources almost entirely for both financial and banking operations. In 1871, Société Générale moved into the public French issues market with a national debenture loan launched to cover the war indemnity stipulated in the Treaty of Frankfurt . The bank

4558-442: The closing of the sale of Rosbank and the Group's Russian insurance subsidiaries to Interros Capital. This transaction results for Société Générale in a net loss of around 3.2 billion euros and has an impact of about -7 basis points on its capital ratio. Société Générale is a universal bank. The Group consists of three main pillars backed by two business lines. Société Générale is often nicknamed SocGen (pronounced "sock jenn") in

4644-610: The combined fixed income index business of ICE will be nearly $ 1 trillion. Upon closing, the indices will be re-branded as the ICE BofAML indices. The terms of the agreement were not disclosed, and the transaction is expected to be completed in the second half of 2017. The financial impact of the transaction is expected to be immaterial in 2017. In October 2017 ICE announced it has completed its acquisition. Furthermore, in August 2019, it announced it had entered into an agreement to acquire

4730-470: The company's original focus was energy products (crude and refined oil , natural gas , power , and emissions ), acquisitions subsequently expanded its activity into soft commodities ( sugar , cotton and coffee ), foreign exchange and equity index futures. In a response to US financial crisis in 2008, Sprecher formed ICE US Trust, based in New York and now called ICE Clear Credit LLC, to serve as

4816-416: The dynamism of supervisory and management staff at head office and in the branch offices it moved ahead of Crédit Lyonnais (in terms of deposits collected and loans distributed) between 1921 and 1928. To satisfy the requirements of investing companies, Société Générale created a subsidiary, Calif , specialised in medium-term credit in 1928. On an international level, the bank held an active participation in

4902-594: The early 1990s, the Senegalese subsidiary of Société Générale teamed up with the Swiss processed-foods manufacturer Nestlé to illegally dispossess the real estate assets of the Industrial Company of Dairy Products (SIPL), thus leading the dairy company to bankruptcy. Retail Banking was strengthened in 1997 through the acquisition of Crédit du Nord , highlighting the Group's determination to capitalise on

4988-513: The end of 2011. Over the year, the share lost 57.22 percent of its value, the third-worst CAC 40 performance of 2011 (after Veolia and Peugeot). In August 2020, it was reported that Société Générale experienced a €1.26 billion loss during the second fiscal quarter of 2020. It was the bank's weakest quarterly performance since 2008's Kerviel Fraud. As a result of this, Séverin Cabannes, the bank's global banking and investor solutions business head,

5074-505: The financial solidity of the main four French banks, including Societe Generale. During the summer of 2011, the financial markets, fearing the collapse of the eurozone associated with the European sovereign debt crisis , were severely shaken. European and French bank shares recorded substantial falls. It was within this context that Britain's Mail on Sunday published, on Sunday 7 August, an article in which it announced Société Générale's imminent bankruptcy. The newspaper quickly published

5160-1242: The following subsidiaries : In June 2016 Intercontinental Exchange introduced the expanded ICE Data Services, which combined exchange data, valuations, analytics, and other software used by the New York Stock Exchange (NYSE), SuperDerivatives and Interactive Data (IDC). ICE originally formed its ICE Data subsidiary in 2003, recognizing the rising demand for exchange data as markets became increasingly automated. ICE continues to invest in its data services to address evolving customer needs driven by regulatory reform, market fragmentation, passive investing and indexation, along with increased demand for data capacity and security, and independent valuations. Their customers include global financial institutions, asset managers, commercial hedging firms, risk managers, corporate issuers and individual investors. ICE Data Services has offices in California , New York , Chicago , Bedford MA , London , Rome , Dublin , Tel Aviv , Hong Kong , Singapore, Tokyo , Hyderabad and Melbourne . Soci%C3%A9t%C3%A9 G%C3%A9n%C3%A9rale Société Générale S.A. ( French: [sɔsjete ʒeneʁal] ), colloquially known in English speaking countries as SocGen ( French: [sɔk ʒɛn] ),

5246-421: The general public, issuing private debenture loans in France and also in Russia. Acquisition of equity stakes became a more secondary activity. The company's excellent financial health allowed it to expand its shareholding structure. In 1895, Société Générale had 14,000 shareholders. In 1898, Société Générale entered the Belgian market. Because the Société Générale de Belgique predated its French namesake and had

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5332-416: The housing finance continuum. The cash and stock transaction values Black Knight at $ 85 per share, or a market value of $ 13.1 billion. In April 2023, the Federal Trade Commission petitioned a federal court to issue a preliminary injunction to halt the acquisition. In August 2023, ICE announced that they had entered into an Agreement Containing Consent Orders (the “ACCO”) with the Bureau of Competition of

5418-424: The international financial world. Société Générale's three pillars, at the heart of the development of its relationship banking model, are: The development of these three pillars is backed by two other core activities, namely: Société Générale's head office is in the Tours Société Générale in the business district of La Défense in the city of Nanterre , west of Paris. The company moved there in June 1995 from

5504-510: The international network and across-the-board introduction of IT facilities to cope with extension of the customer base and the development of deposit money. In 1971, the appearance of automatic cash machines crowned the success and development of the credit card. In 1973, Société Générale opened its representative office in the Soviet Union . In 1975, Société Générale introduced Agrifan, a food-products trading company to connect French suppliers with foreign food buyers. The following year during

5590-509: The launch of Société Générale AM UK in London and the acquisition of Yamaichi in Japan, Société Générale Asset Management has taken a decisive step in establishing its international presence and is now able to offer its customers truly global fund management capabilities. Société Générale also has a worldwide presence in private banking activities. After pursuing a deliberate policy of acquisitions in 1998, Société Générale Private Banking consolidated and developed its franchise in 1999 against

5676-453: The loss of Russian business. However, during the 1920s Société Générale became France's leading bank: its network had grown sharply since the 1890s, with a huge number of branches and seasonal offices allowing in-depth penetration of the provincial market (260 seasonal offices in 1910 and 864 in 1930). The number of sales outlets rose from 1,005 in 1913 to 1,457 in 1933 (including those operated by Sogenal  [ fr ] ). Thanks also to

5762-444: The market; short-term physical markets evolved, and the need to hedge emerged. A group of energy and futures companies founded the IPE in 1980, and the first contract, for gas oil futures, was launched the following year. In June 1988, the IPE launched Brent Crude futures. Since its inception, oil futures and latterly options have been traded in pits on the trading floor using the open outcry system. As business volumes have grown,

5848-462: The markets served, adding technology platforms and increasing new data and valuation services. Completion of the transaction was subject to regulatory approval and other customary closing conditions. The transaction completed on December 14, 2015. In December 2015, ICE acquired Trayport for $ 650 million from GFI Group . Trayport provides a trading technology platform that serves brokers, exchanges, clearing houses and trading participants, primarily in

5934-538: The multi-nationals. 1966 and 1967 represented a fundamental turning point in banking regulations, the main development being attenuation of the distinction between deposit and investment banking, and creation of the home mortgage market. Société Générale took advantage of this and acquired leading positions in some new financing techniques designed primarily for companies, such as finance leasing , setting up specialised credit subsidiaries for this purpose. The 1970s were characterised by two major developments: expansion of

6020-433: The offer was a $ 2 billion (21%) premium over the Deutsche offer and that they had fully committed financing of $ 3.8 billion from lenders to finance the deal. The Justice Department , also in April, "initiated an antitrust review of the proposal, which would have brought nearly all U.S. stock listings under a merged Nasdaq-NYSE." In May, saying it "became clear that we would not be successful in securing regulatory approval",

6106-401: The remaining equity of Merscorp Holding, Inc., owner of Mortgage Electronic Registration Systems , Inc. (MERS). Merscorp owns and operates the MERS System, a national electronic registry that tracks the changes in servicing rights and beneficial ownership interests in U.S.-based mortgage loans. ICE had owned a majority equity interest in MERS since 2016. Earlier this month, ICE successfully moved

6192-535: The restructuring of the French banking system. At the same time, Société Générale looked to secure the long-term loyalty of its customers (launch of "one account number for life" and introduction of Jazz, a package of service offers). In 1999 it entered into a merger agreement with rival bank Paribas , but this was scuppered by a competitor, the Banque Nationale de Paris (BNP). In 1998 Société Générale paid $ 540 million in cash to acquire Cowen & Company,

6278-462: The tenth calendar day after the entry into the ACCO. In September 2023, the parties closed the acquisition and completed the previously announced divestitures of Black Knight's Empower and Optimal Blue businesses to subsidiaries of Constellation Software Inc. ICE provides exchange trading and clearing services in a number of different markets. Its main products include: The company is split into

6364-535: The transaction will be immaterial and was included in ICE's financial guidance for 2017. In February 2017, ICE announced that it had entered into a definitive agreement to acquire the Global Research division's index platform from Bank of America Merrill Lynch . The BofAML indices are the second most used fixed income indices by assets under management (AUM) globally, and upon closing, the AUM benchmarked against

6450-467: Was a high risk of massive market disruption." The principal backers for ICE US Trust were the same financial institutions most affected by the crisis, the top nine of the world's largest banks (Goldman Sachs, Bank of America, Citi, Credit Suisse, Deutsche Bank, JPMorgan, Merrill Lynch, Morgan Stanley and UBS). Sprecher's clearing house cleared their global credit default swaps (CDS) in exchange for sharing profits with these banks. By September 30, 2008,

6536-631: Was a power plant developer who spotted a need for a seamless market in natural gas used to fuel power stations. In the late 1990s, Sprecher acquired Continental Power Exchange, Inc. with the objective of developing an Internet-based platform to provide a more transparent and efficient market structure for over-the-counter energy commodity trading. In May 2000, ICE was founded by Sprecher and backed by Goldman Sachs , Morgan Stanley , BP , Total , Shell , Deutsche Bank and Société Générale . The new exchange increased price transparency, efficiency, liquidity , and had lower costs than manual trading. While

6622-659: Was able to take advantage of the flow of business generated by the Marshall Plan . Société Générale continued to expand in France and beyond. It moved into Italy and Mexico and altered the status of its establishments in Africa after decolonisation, in accordance with the laws passed by these newly independent countries. From the mid-1960s, Société Générale gave new impetus to its French network, with an acceleration in growth after 1966 following elimination of prior authorisation for opening branch offices. International expansion

6708-528: Was also named to the Fortune 500 in June 2017 as the only exchange operator included in the ranking. On September 6, 2019, Bloomberg reported that ICE was growing closer to offering Bitcoin futures trading, as "its Bakkt unit opens its digital-asset custody warehouse today to customers." On September 23, 2019, Bitcoin will be able to be acquired. Intercontinental Exchange has had a policy to grow through

6794-531: Was an investment company based in France, and a wholly owned subsidiary of Société Générale. It offered exchanged-traded index funds and other ETFs , exchanged-traded notes ( ETN ), and several other products to private and corporate investors. In April 2022, Société Générale became the first major financial group to leave Russian market because of International sanctions during the Russo-Ukrainian War . In May 2022, Société Générale announced

6880-658: Was financially involved with some of the businesses created by Paulin Talabot , the railway and canal engineer. Talabot came to have an influential role in the bank. In 1886, Société Générale was part of the bank consortium (along with the Franco-Egyptian Bank and the Crédit Industriel et Commercial ) that financed the construction of the Eiffel Tower . From 1871 to 1893, France went through

6966-538: Was founded by a group of industrialists and financiers during the Second Empire on 4 May 1864. Its full name was Société Générale pour favoriser le développement du commerce et de l'industrie en France ("General Company to Support the Development of Commerce and Industry in France"). The bank's first chairman was the prominent industrialist Eugène Schneider , followed by Edward Charles Blount . By 1870,

7052-983: Was founded in 1971, was originally known as Trust Company of the West and is the parent of TCW/Crescent Mezzanine one of the leading mezzanine capital firms in the US. The TCW Group operated as a subsidiary of Société Générale Asset Management until it was sold to Carlyle Group . Africa is also a major area of interest for the bank, with the 2002 purchase of Eqdom in Morocco (the market leader in consumer lending) and Union Internationale de Banques  [ fr ] in Tunisia . In addition, 51 percent of SSB Bank in Ghana in 2003 and 50 percent of Geniki Bank in Greece in 2004 were acquired . In terms of specialized financial services,

7138-437: Was just as vigorous. It was no longer limited, as before, to the main financial centres (London, New York), neighbouring countries (Belgium, Spain) and the former colonies, with the primary aim of facilitating the business of French firms, but was also aimed at guaranteeing the bank's presence where new markets were developing, either to export the technical expertise it had acquired in certain fields, or to keep up its contact with

7224-694: Was looking to develop its M&A, advisory and IPO activities through the acquisition of specialised firms ( SG Hambros in the United Kingdom, Barr Devlin in the United States). Following two years of crisis resulting from the revelation of the Kerviel fraud and then from the eruption of the global financial crisis , the bank appeared to have put things behind it in 2010. In business terms, Société Générale appeared intent on moving on and implementing an in-depth transformation in 2010. On 15 June,

7310-540: Was not until 1959 that the economy really recovered, but credit controls were reinforced due to persistent inflationary pressures. Sharp growth in production and foreign trade opened up new areas of business for the banks. The industry underwent some quite radical changes, one of the most striking of which was much greater specialisation of credit. The range of banking services on offer expanded uninterruptedly. Thanks to its presence in New York City , Société Générale

7396-610: Was renamed ICE Futures Canada as of January 1, 2008. In 2004, the Winnipeg Commodity Exchange had "closed its open-outcry trading floor" becoming "the first North American agricultural futures exchange to trade exclusively on an electronic platform" by trading via the "Chicago Board of Trade's electronic platform, and [using] clearing services from the Kansas City Board of Trade. IntercontinentalExchange converted Winnipeg Commodity Exchange contracts to

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