ICE to Buy Parent Of Chicago Climate Exchange

Crain's Chicago Business ^ | April 30, 2010 | Staff

[opentalk]

There is no information on the founding share holders. It would be nice to know, who is promoting this.

[opentalk]

please disregard, just read other posts. thanks

[Army Air Corps]

As you said, they have been very ambitious and have expanded greatly since their inception in 2000. All the more reason why I want to know who provided their initial capitalization. Who were those initial investors? That is a question to which I want an answer.

[Tunehead54]

"They wouldn’t be willing to spend this much money on the CCX unless they believed that the fix was in on cap and tax."

---

A couple more coal mine explosions, oil rig meltdowns or maybe even a nuke power plant disaster ought to do it ... almost looks like part of a plan ... ;-(

[Army Air Corps]

Based on ICE’s press releases, they have partnered with CCX in the past on some things, but CCX was, ultimately a competitor in the carbon trading industry. ICE, just eliminated their competition in that market. Now, ICE trades in all energy futures and, now, holds a virtual monopoly on the carbon trading market. The question remains - who were the initial investors/shareholders who formed ICE?

[opentalk]

Sent to Beck , hope he investigates. I think he is going to do more on the whole green scam and players next week.

[Army Air Corps]

I also sent some of this info to Beck. We’ll see how quickly he picks-up on it.

[thouworm]

March 21, 2000— Morgan Stanley Dean Witter, Royal Dutch/Shell and five other banks and energy companies said today that they would create a Web site for trading precious metals and oil, two of the world's most heavily traded commodities.

... is the latest to use the Internet to capture a share of the estimated $1.8 trillion of commodity contracts traded each year.

''Those companies have a lot of clout in the metals and energy fields and that gives them a tremendous advantage.''

The Nymex,...... exchange said it rejected offers from Morgan Stanley and Goldman Sachs to participate in the new venture.......

The venture will be led by Jeff Sprecher, president of Continental Power Exchange Inc., the developer of the electronic trading system that IntercontinentalExchange will use.

NYT

"Morgan Stanley Dean Witter, Royal Dutch/Shell and five other banks and energy companies...."

Goldman Sachs
Morgan Stanley Dean Witter
BP Amoco
Royal Dutch/Shell
TotalFina Elf,
Deutsche Bank
Societe Generale.
~~~~~~~~~~~

Jeffrey C. Sprecher Chairman and Chief Executive Officer, IntercontinentalExchange Jeff Sprecher is a founder of IntercontinentalExchange (NYSE: ICE), serving as the company's Chief Executive Officer since its inception in May 2000 and as the Chairman of the Board since November 2002.

Under Mr. Sprecher's guidance, ICE has expanded into global markets for
agriculture, chemicals,
credit default swaps,
emissions, energy,
equity indexes and
foreign exchange.

Today, ICE operates

three regulated futures exchanges,
two over-the-counter (OTC) markets and
five clearing houses.

Chairman and Chief Executive Officer, IntercontinentalExchange

A former power plant developer, Mr. Sprecher recognized the need for an accessible, electronic marketplace for OTC energy contracts. He purchased Continental Power Exchange (CPEX) in 1997 to achieve his vision of an efficient market that would introduce transparency and capital efficiency into previously opaque and fragmented markets.

In 2000 he spearheaded the assembly of thirteen global commercial market users who then became the company's initial shareholders. Since ICE's formation in 2000, Mr. Sprecher has maintained a focus on innovation, transparency and capital efficiency in the global derivatives markets.

He has led numerous strategic initiatives that have enabled ICE to expand from a single asset class – energy – into five asset classes today.

Mr. Sprecher serves on the U.S. Commodity Futures Trading Commission (CFTC) Global Market Advisory Committee and is a member of the Energy Security Leadership Council.

Prior to acquiring CPEX, Mr. Sprecher held a number of positions in the power industry. For 14 years, he served as President of Western Power Group, Inc., a developer, owner and operator of large central-station power plants in California.

A native of Wisconsin, Mr. Sprecher earned a Bachelor of Science degree in Chemical Engineering from the University of Wisconsin at Madison and a Master of Business Administration from Pepperdine University in Malibu, California.

Directors

[Army Air Corps]

Thanks! The news release page that I used last night only archived press releases from 2004 onward.

[GOPJ]

bump

[GOPJ]

Please add me to your ping list.

[thouworm]

IPO

In November 2005, ICE completed its IPO on the New York Stock Exchange (NYSE) under the ticker ICE.

—IntercontinentalExchange is an Atlanta-based electronic global futures and over-the-counter marketplace for the trading of energy products. It plans to price 10 million shares at $18 to $20 each. The company will offer 2.5 million shares and selling shareholders will offer 7.5 million shares. The IPO is to start trading on November 16.

For the year ending December 30, 2004, IntercontinentalExchange reported net income of $21.9 million on total revenues of $108.4 million, compared with net income of $13.4 million on total revenues of $93.7 million for the same period a year ago. For the nine months ending September 30, IntercontinentalExchange reported net income of $26.5 million on total revenues of $114.6 million, compared with net income of $17.1 million on total revenues of $79.9 million for the same period a year ago. Formed in 2000, IntercontinentalExchange has about 194 employees.

Underwriters:

Morgan Stanley and
Goldman Sachs are the joint-lead managers.

Co-managers are

William Blair, Sandler O’Neill Partners, and
SG Corporate & Investing Banking.

Selected Principal Shareholders:

Morgan Stanley Capital Group,
The Goldman Sachs Group,
Total Investments USA,
BP Products North America,
Société Générale Financial,
ST Exchange,
AEP Investments,
Mirant Americas Energy Marketing,
Duke Energy Trading Exchange,
El Paso Merchant Energy North America,
TA Associates Funds,
DB Structured Products,
and MHC Investment.

RedHerring

IntercontinentalExchange was founded in March [2000] as an Internet-based trading platform for OTC precious metals and oil. Initial partners include BP, Deutsche Bank AG, Goldman Sachs, Morgan Stanley Dean Witter, Royal Dutch/Shell Group, SG Investment Banking, Totalfina Elf, and Continental Power Exchange -- which is providing the trading technology and management team.

INITIAL PARTNERS

BP (NYSE: BPA) is one of the world's largest companies and a leader in energy and petrochemicals, with 1999 revenues of over $101 billion. The company's main activities are exploration and production of crude oil and natural gas; refining marketing, gas marketing, supply and transportation; manufacturing and marketing of petrochemicals; and growing activity in solar power generation. BP has well-established operations in Europe, North and South America, Australasia and parts of Africa.

With over $953 billion in assets as of March 31, 2000, and approximately 90,000 employees, Deutsche Bank offers its clients unparalleled financial services throughout the world. It ranks among the leaders in asset management, capital markets, corporate finance, custody, cash management and private banking. Deutsche Bank is divided into five major business units: Global Corporates and Institutions, Global Technology and Services, Asset Management, Corporates and Real Estates and Private and Retail Banking.

Goldman Sachs (NYSE: GS) is a leading global investment banking and securities firm, providing a full range of investing, advisory and financing services worldwide to a substantial and diversified client base, which includes corporations, financial institutions, governments and high net worth individuals.

Founded in 1869, it is one of the oldest and largest investment banking firms. The Firm is headquartered in New York and maintains offices in London, Frankfurt, Tokyo, Hong Kong and other major financial centers around the world

.
Morgan Stanley Dean Witter & Co. (NYSE: MWD) is a preeminent global financial services company and a market leader in securities, asset management, and credit services. The company’s top-ranked research along with world class product origination, asset management and other extensive resources create a unique combination of capabilities that provide both individual and institutional clients with access to the most comprehensive array of high quality products and services in the financial services industry today. The Company has offices in New York, London, Tokyo, Hong Kong and other principal financial centers around the world, and has 506 branch offices serving individual investors throughout the United States.

The Royal Dutch/Shell Group of Companies - usually known as Shell - has grown out of an alliance made in 1907 between Royal Dutch Petroleum Company in the Netherlands and the "Shell" Transport and Trading Company in the UK. Today the Group has five core businesses: Exploration & Production, Oil Products, Chemicals, Gas & Power Generation, and Renewables.

SG Investment Banking is the commercial and investment banking arm of the Société Générale Group. Present in over 60 countries and with expertise in capital markets, advisory and origination services, structured finance and commercial banking. SG Investment Banking builds innovative, integrated financial solutions for its corporate, institutional and public sector clients. More information about the company is available on the Internet at: www.sg-ib.com

The Totalfina Elf Group is now one of the largest private sector oil and gas companies in the world, with a world-class business in chemicals.

Continental Power Exchange
Continental Power Exchange was started in 1994 by a US electric utility company to create a spot market exchange for electric power, primarily in the MidWest US.

In 1997, the company was purchased by a private investor and, under the leadership of a new management team, dramatically expanded its scope of interest by initiating the in-house development of an electronic trading system for the real-time purchase and sale of a large array of commodities and derivative products.

The company completed the initial work on its proprietary software in early-2000 and approached a number of major commodities trading firms to provide initial liquidity – out of which was born InterContinental Exchange.

NEW YORK (July 26, 2000) – Six of North America's leading power and natural gas trading companies have entered into an agreement in principle to purchase an equity position in IntercontinentalExchange, creating the world's largest on-line, over-the-counter (OTC) market for energy and metals. It was also announced today that trading in precious metals will commence in August.

The six new IntercontinentalExchange partners are:
American Electric Power,
Aquila Energy (a unit of UtiliCorp United),
Duke Energy,
El Paso Energy,
Reliant Energy, and
Southern Company Energy Marketing (a unit of Southern Company).

In April, these six companies formed a corporation, the Energy Trading Platform Holding Company, Inc. (ETPHCo) to create an independent power and natural gas trading exchange.

Together, these companies, in 1999, accounted for trading in some 1 billion megawatt-hours of electricity and 42 billion cubic feet of natural gas per day in North America.

NEW PARTNERS

American Electric Power (NYSE: AEP) is a multinational energy company based in Columbus, Ohio. AEP is one of the United States largest generators of electricity with more than 38,000 megawatts of generating capacity. AEP is also one of the nation’s leading wholesale energy marketers and traders. AEP delivers electricity to more than 4.8 million customers in 11 states – Arkansas, Indiana, Kentucky, Louisiana, Michigan, Ohio, Oklahoma, Tennessee, Texas, Virginia and West Virginia. The company serves more than 4 million customers outside the U.S. through holdings in Australia, Brazil, China, Mexico and the United Kingdom. Wholly owned subsidiaries are involved in power engineering and construction services, energy management and telecommunications.

Aquila Energy is one of the largest and fastest growing energy marketing and risk management organizations in North America. With its focus on natural gas, power, and a variety of risk management and custom energy products, the company ranked in 1999 as the second largest wholesaler of electric power and third largest wholesaler of natural gas in the United States. As a wholly owned subsidiary of UtiliCorp United, Aquila is headquartered in Kansas City, Missouri, but also has additional sales and marketing operations in Houston, Denver, Calgary and other targeted locations in North America, as well as in the United Kingdom, Germany, Norway and Spain. Aquila revenues in 1999 were $16.7 billion.

Duke Energy, a diversified multinational energy company, creates value for customers and shareholders through an integrated network of energy assets and expertise. Duke Energy manages a dynamic portfolio of natural gas and electric supply, delivery and trading businesses - generating revenues of nearly $22 billion in 1999. Duke Energy, headquartered in Charlotte, N.C., is a Fortune 100 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available on the Internet at: www.duke-energy.com.

El Paso Energy Corporation (NYSE: EPG) provides comprehensive energy and financial solutions through its strategic business units: El Paso Merchant Energy Company, Tennessee Gas Pipeline Company, El Paso Natural Gas Company, Southern Natural Gas Company, El Paso Energy International Company, El Paso Field Services Company, and El Paso Production Company. The company owns North America’s largest natural gas pipeline system, in terms of both throughput and miles of pipeline, and has operations in natural gas transmission, merchant energy services, power generation, international project development, gas gathering and processing, and gas and oil production. The company is headquartered in Houston, Texas and has over $19 billion in assets.

Reliant Energy (NYSE: REI), based in Houston, Texas, is an international energy services and energy delivery company with $15.3 billion in annual revenue and assets totaling $28 billion. The company has a wholesale energy trading and marketing business that ranks among the top five in the U.S. in combined electricity and natural gas volumes and has a presence in most of the major power regions of the U.S. Reliant Energy also has power generation and wholesale trading and marketing operations in Western Europe. The company has more than 26,000 megawatts of power generation in operation in the U.S. and Western Europe.
Southern Company Energy Marketing is jointly owned by Southern Energy Inc. and Vastar Resources Inc. Southern Company Energy Marketing provides energy marketing, risk management and financial services and other energy-related commodities, products and services to customers in North America. Southern Energy’s parent company, Southern Company (NYSE: SO), is the largest producer of electricity in the United States.

SOURCE

[thouworm]

FYI ping ICE — IntercontinentalExchange

[thouworm]

The $2.5 trillion global oil scam
By Dan Jones | 11/17/09 - 09:00

Global Oil Scam

Apparently, there's a global oil scam making Bernie Madoff look like a petty thief.

If serial entrepreneur and Seeking Alpha columnist Philip Davis is to be believed, the world is being scammed out of $2.5 trillion, 50 times greater than the sum Madoff took from the duped investors.

According to Davis, the scam starts in 2000 with the formation of the ICE - the Intercontinental Exchange. The ICE - founded by Goldman Sachs, Morgan Stanley, BP, Total, Shell, Deutsche Bank and Societe Generale - is an online commodities and futures marketplace that exists outside the US and operates free from the constraints of US laws.

After a Congressional investigation into energy trading in 2003, the ICE was found to be facilitating "round-trip" trades. This is where one firm sells energy to another, and then the second firm sells the same amount of energy back to the first company, at the same time and at the exact same price, as told by Davis.

No commodity ever changes hands

Quite shockingly no commodity ever changes hands, but the transactions still send a signal to the market, artificially boosting company revenue. Angry yet? There's more.

Because the trading is unregulated by Washington, its difficult to gauge the scale on which "round-trip" trading takes place.

But when DMS Energy were investigated by Congress, the company admitted that 80 percent of its trades in 2001 were round-trip trades. This means 80 percent of all trades in that year were false trades. Not a drop of oil changed hands, but the balance sheets showed increased revenue.

The idea is to hike up commodity prices. For example, according to Davis, after the ICE turned commodity trading into a "speculative casino game where pricing was notional and contracts could be sold by people who never produced a thing, to people who didn't need the things that were not produced", Goldman Sachs were able to triple the price of commodities in just five years.

ICE can create artificial shortages and drive speculative demand

The beauty (or rather the horror) of the scam outlined by Davis is that because they control the oil markets, the ICE can create artificial shortages and drive speculative demand in order to charge consumers an extra dollar per gallon of gas. And whereas this may not seem like much, this $1 soon becomes $50 billion A MONTH as global drivers consume 1.7 billion gallons of gas every single day.

Whereas, at this stage, it would not be accurate or indeed wise to suggest what Philip Davis claims is either true or false, one cannot ignore the issue. There have been concerns for many years that global markets are controlled by a monopoly of mega-organizations, but there could be a strong case for suggesting the ICE is close to becoming just that - a super-organization with the power to push oil prices up or down.

Good luck Washington, you might just be getting a deluge of mail demanding answers.

The slide show comes from SlideShare.net and gives a breakdown of the global oil scam.

NGOilGas

Original SeekingAlpha article

[aruanan]

Doncha mean this?

[Tunehead54]

The question remains - who were the initial investors/shareholders who formed ICE?

---

I'm sure AlBore is in there along with Soros and company but note what's happened the original CCX crew - Obama included have cashed out splitting better than a half a billion just when (G-d willing) the whole carbon market crashes and burns ... all things considered, a few millions for Uhbama and friends is cheap if the tax and cap scheme is crushed. ;-( & ;-)

[Solson]

Well who cares? If we want Obama to stop trying to kill Wall Street maybe we should do the same?

So ICE buys CCX? Who cares. Companies are bought and sold everyday based upon perceived value. If Gore or anyone else profits, then so be it. Just like the case when a "conservative" company is sold or acquired.

[STARWISE]

Patton Boggs

Tom Boggs

Cokie Roberts’ brother

~ ~ ~ ~

Thursday, January 21, 2010 9:42 AM
K St Dems Rake In Bucks In 2009

K Street sign.jpgLobbying firms run by prominent Democrats like Tommy Boggs, Norm Brownstein and Tony Podesta posted robust growth in fees during 2009.

Patton Boggs (chaired by Boggs), Brownstein Hyatt & Farber (co-founded by Brownstein) and the Podesta Group (founded by Podesta) were three of the top five most successful firms on K Street last year, according to data provide by firms and lobbying disclosure documents filed with Congress.

The numbers reflect the story line of the year, which was Democrats’ active legislative agenda on Capitol Hill on health care, energy and financial services reform fueled clients desire to hire firms with Democrat ties in Washington.

“2009 was clearly a very active year on the Hill,” said James Christian, partner at Patton Boggs. “Our clients faced many challenges and opportunities and these figures reflect that activity.”

Here’s an initial top ten list compiled by me and will be updated as we get more information about filings. It always takes Congress at least a week to compile all the data.

Firm 2009 vs 2008 Fees

1. Patton Boggs $40.8 mln vs $39.2 million
2. Akin Gump $32.3 mln vs $34.4 million
3. Van Scoyoc $28.07 mln vs $25.8 mln
4. Podesta Group $25.6 million vs $15.9 mln
5. Brownstein Hyatt & Farber $23.5 mln vs $14.96
6. Ogilvy Government Relations $21.8 mln vs $21.7 million
7. Holland & Knight $21.7 mln vs $14.6 mln
8. Cassidy & Assoc $21.5 mln vs $23.3 mln
9. Dutko $19.35 mln vs $20.2 mln
10. K& L Gates $18.5 mln vs $14.99 mln

Lobbying firms are required to report the fees to Congress every quarter.

~ ~ ~

MUST read all the nefarious lobbyist connections on this site

http://undertheinfluence.nationaljournal.com/mt/mt-search.cgi?tag=Business%20of%20Lobbying&blog_id=48&IncludeBlogs=48

We are but ignorant peons in this mob shell game,
buying and selling our and our grandchildren’s futures.

[STARWISE]

FORMATTED~!!!!

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Glenn only scratched the surface, if he didn’t get to Maurice Strong.

CCX Pachauri-IPCC Maurice Strong Joseph P Kennedy II and if you are into 911 conspiracies, check out Maurice Strong and AMEC and their connections to the bin laden family, besides his ties to Iraq, during the “food for weapons” program Our Abel Danger counter-intelligence team has evidence to suggest that Strong and his cousin Anna first implemented a permanent revolution model in China with Red Guard deployments in the `60s and then, after Anna’s death in 1970, Strong combined statewide killings of the bourgeoisie in the Vietnam, Cambodia and Rwanda genocides with more precise operations such the 1972 Munich Olympics massacre and `al-Qaeda’s’ 9/11.

http://en.wikipedia.org/wiki/Red_Guard

There are a few very important points that need mentioning concerning carbon trading/emissions and the nexus surrounding 9/11:

1) Richard Sandor launched the Chicago Climate Exchange, or CCX, in 2003 after getting two research grants from the Chicago-based Joyce Foundation (2000 and 2001).

The money went to the Kellogg School of Management at Northwestern University, in Evanston, Illinois, for Sandor’s pilot program to trade carbon credits.

Climate Exchange plc is a limited liability company registered in the Isle of Man – a self-governing Crown dependency and international offshore financial haven located in the Irish Sea, with a legal system entirely separate from that of the UK.

Climate Exchange plc was originally incorporated in the Isle of Man in 2003 under the name Chicago Environmental plc, and changed its name in 2004.

It owns the Chicago Climate Exchange (CCX), the Chicago Climate Futures Exchange (CCFE), and the European Climate Exchange (ECX).

In September 2007, Climate Exchange plc and Deutsche Bank launched trading in catastrophe event-liked futures on the CCFE (IFEX).

Richard Sandor (Kellogg School of Management), the company’s Chairman, is the majority shareholder; another major shareholder is Neil Eckert, the company’s CEO.

2) Richard Sandor (founder of the CCX, in cahoots with Maurice Strong and Al Gore) set up Climate Exchange plc as a Manx offshore holding company, to manage the various futures exchanges he established, while minimizing official scrutiny.

His various operations involve money laundering; insider trading (including weather futures fraud); and protection racketeering using gas emissions (including CO2) as a pretext to monopolize control of international resources and industry, largely on behalf of global custodian bankers.

KPMG is Climate Exchange plc’s auditor; BNP Paribas is the company’s principal banker.

3) A notable recent member of the Joyce Foundation’s Board of Directors was Barack Obama. While Obama was a director of the Joyce Foundation, the Foundation issued a $347,600 grant to Richard Sandor “to design a mid-western pilot program for the voluntary trading of carbon dioxide and other emissions that cause climate change, with the goal of answering methodological questions and resolving operational issues.” (2000)

Also, a $760,100 grant to the J. L. Kellog School of Management at Northwestern University, working with Sandor, to fund the design of the Carbon Climate Exchange, otherwise known as the CCX. (2001)

The President of the Joyce Foundation in 2000, when the foundation made its first grant to the Climate Exchange, was Paula DiPerna, who is now executive vice president of the Chicago Climate Exchange in charge of corporate recruitment and public policy, as well as president of CCX International.

DiPerna left the foundation in November 2001 and joined the Exchange. It was the same year in which the foundation gave its second and much larger grant to the exchange. The Exchange launched in 2003.

4) Cantor Fitzgerald, CantorCO2e, is a leading global provider of financial services to the world’s environmental and energy markets (clients engaged in using energy and managing emissions).

Carlton Bartels, who was killed on 911, invented and held the patent on a computer-based system for simulated automated carbon trading while at Co2e by putting out a news story for example, in the mainstream media to see what effect it would have on the value of the amount of carbon dioxide put out.

On the morning of 9/11 Carlton Bartels was operating this simulated game and it is alleged his simulation administrator codes were stolen and then the game hacked into taking the game from a simulation to an actually live game.

5) For over 150 years have Bellingdon associates defended family fortunes by hiring lawyers to arrange insurance frauds through Lloyd’s of London and paying saboteurs with money laundered through the US Patent office?

It is thought that Sebastian Grigg (previously at Goldman Sachs as their media investment manager and who launched the SCREAM network just in time for what Thomas P.M. Barnett called, “the world’s first mass snuff film in history”) and his Bullingdon associates defrauded Lloyd’s of London Volcanic Ash Advisory Centre operated by Met Office as a cat-bond trading arm of the U.K. Ministry of Defense.

The allegation is Lloyd’s of London are either witting or unwitting underwriters of these catastrophe bonds. There is circumstantial evidence that Met (Meteorological) Office agents used the Montreal Volcanic Ash Advisory Centre network on 9/11 to trigger the Bullingdon (named after the Bullingdon Club) catastrophe bonds and defraud Lloyd’s.

In 1996, Lloyd’s tried to settle all litigation arising from the multibillion-pound losses its investors suffered in the late 1980s and early 1990s.

During the 1990s, claims for asbestos-related diseases dating back to the 1940s had flooded Lloyd’s after the US courts began ruling that someone who had been exposed to asbestos could claim, regardless of whether or not they had any symptoms of illness and this amounted to a huge liability Lloyds couldn’t cover, almost driving them into bankruptcy. We’re talking about billions of dollars in losses and an insurance scam.

http://warofillusions.wordpress.com/2009/03/30/obama-maurice-strong-al-gore-key-players-cashing-in-on-chicago-climate-exchange/

[STARWISE]

“Crime Inc.” links (Beck’s revelations)

http://www.wikio.com/themes/Franklin%20Raines