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News Jun 22, 2014

Shearman & Sterling Advises Intercontinental Exchange on Sale of NYFIX and Metabit to ULLINK

Shearman & Sterling is advising Intercontinental Exchange (ICE) on the sale of NYFIX and Metabit, both units of NYSE Technologies, to ULLINK, a provider of electronic trading and connectivity solutions to the financial community. The transaction, which is subject to regulatory approval, is expected to close in the third quarter of 2014. The terms of the transaction were not disclosed.

NYFIX offers a portfolio of end-to-end technology solutions for the financial services industry with FIX-based products designed to handle a firm’s high-performance messaging, connectivity, routing and monitoring needs. NYFIX Marketplace™ is a global community of more than 1,000 trading counterparties with connections to exchanges and other electronic trading venues, including Metabit’s extensive reach in Asia.

Metabit operates a collection of electronic trading and connectivity solutions, including Direct Market Access (DMA) capabilities that enable access to financial markets throughout Asia. Based in Japan and built on cutting-edge technology designed in Asia for Asian markets, Metabit links more than 140 market participants in the region.

Intercontinental Exchange is the leading network of regulated exchanges and clearing houses for financial and commodity markets. ICE delivers transparent, reliable and accessible data, technology and risk management services to markets around the world through its portfolio of exchanges, including the New York Stock Exchange, ICE Futures, Liffe and Euronext.

The Shearman & Sterling team included partners David Connolly (New York-Mergers & Acquisitions), Michael Shulman (Washington, DC-Tax), John Cannon (New York-Compensation, Governance & ERISA), and Beau Buffier (New York-Antitrust); special associate Kelly Karapetyan (New York-Antitrust); associates Richard Fischetti (New York-Mergers & Acquisitions), Roger Morscheiser (New York-Mergers & Acquisitions), Robert Bucella (New York-Mergers & Acquisitions), Alan Sun (New York-Mergers & Acquisitions), Ganaraj Hegde (New York-Corporate), Tasha Matharu (New York-Compensation, Governance & ERISA), Regina Park (New York-Compensation, Governance & ERISA), Jeffrey Tate (Washington, DC-Tax), Michael Jokic (New York-Intellectual Property Transactions), Joshua Steinberger (New York-Intellectual Property Transactions), and Timothy Haney (New York-Antitrust); and international associate Yoshihito Kuramochi.