Ok, so the joke was really bad, I couldn't resist! (not that I tired...lol)...
Latest News and Financial Information | Reuters.com: "Energy and commodities exchange IntercontinentalExchange Inc., owner of Europe's biggest energy bourse, may raise up to $115 million in an initial public offering of stock, "
As we have often seen, it is not only industrial corporations that go public, more and more often financial markets themselves are selling shares to the public.
Interestingly, even in the ICE's IPO plans, we see some suggestion of market timing:
"ICE, launched in 2000 primarily as an Internet-based platform for trading U.S. power and gas, is hoping to capitalise on rising interest from investors and hedge funds in energy markets, which have lately yielded better returns than other asset classes."
Some other NYMEX news (gee can you guess we are doing derivatives in class next ;) )
The same Reuters article pointed out the ICE is facing competition in Europe (Ireland and now England) from the NYMEX as the NYMEX takes its open outcry market to fill the void left when ICE went to all electronic trading. (As an aside to those of you who went with the Finance Club to the NYMEX this past fall may remember them explaining this reason as why so many of them were "going to Ireland.") Well now that there will sooon be a bigger void in outcry trading, The NYMEX announced they would also open trading in London.
The NYMEX has recently formed a joint venture to open the Dubai Exchange "which aims to offer the world's only benchmark sour crude futures contract, probably will trade in both open-outcry and electronic environments, Nymex officials said."
OK, enough market talk about ICE, I am getting cold! :)