What’s in a name? ICE plans subtle identity change

Chicago-based multi-asset network of clearing houses and exchanges IntercontinentalExchange Group (NYSE: ICE) has the result of the company’s 2014 Annual Meeting of Stockholders, which was held May 16, 2014.

All 14 director nominees received a majority of votes cast, with at least 87.0% voting “for” each of the directors. Stockholders approved an advisory executive compensation vote with 89.7% voting “for” the proposal. Ernst & Young LLP was ratified as the Company’s independent registered public accounting firm for 2014 with 98.6% voting “for” the ratification of Ernst & Young LLP.

In addition, an amendment was passed to change the company’s name from “IntercontinentalExchange Group, Inc.” to “Intercontinental Exchange, Inc.” with 99.7% voting for the name change, which will be effective upon making the necessary filings in the near future. Broadridge Investor Communication Solutions served as the Inspector of Elections, which tabulated and verified the results of the stockholder vote.

Having arrived at the end of the first quarter of 2014 in a very strong position whilst many other electronic trading firms around the world experienced some of their lowest volumes for more than one year, it is likely that IntercontentalExchange’s Annual General Meeting was uneventful and calm.

As we approach the middle of the year, however, the firm’s average daily volumes are still lower than those of the same period last year, but when compared to other firms operating OTC trading facilities, there is a clear upward turn in fortunes for those offering exchange-based products.

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