ICE backs down in IPE payment battle

Intercontinental Exchange (ICE) has acquiesced to demands from members of its subsidiary, International Petroleum Exchange (IPE), by agreeingd to redeem b-shares prior to any closure of the IPE trading floor.

The b-shares formed part of ICE's payment for IPE, but have remained unredeemed since the 2001 takeover. The original deal stipulated that...