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September 7, 2014 11:12 am

Israeli-Founded Company SuperDerivatives Sells for $350 Million

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Intercontinental Exchange (logo pictured) agreed to buy Israeli-founded SuperDerivatives. Photo: Intercontinental Exchange. – Financial giant Intercontinental Exchange (ICE) has agreed to purchase the Israeli-founded SuperDerivatives for an estimated $350 million.

The deal is for cash and is expected to be wrapped up some time in the last quarter of this year. ICE is assessed to be worth some $20 billion.

SuperDerivatives was founded in 2000 by Dr. David (Dudi) Gershon to bring transparency to option pricing, a complex field that uses complicated mathematical formulas and models to arrive at pricing. Its business headquarters are located in New York, and the company also has a research and development center in Tel Aviv.

ICE Chairman and CEO Jeffrey C. Sprecher told¬†The Wall Street Journal that SuperDerivatives “is an innovative developer of valuable derivatives data and technology, and will play a key role in extending our financial market clearing and data capabilities.”

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