YellowJacket
Privately held US financial technology company, founded in 2002, that built an electronic trade negotiation platform for energy and weather markets. IntercontinentalExchange agreed to acquire it in early 2008.
Industry: Electronic trade negotiation software | Founded: 2002
About YellowJacket
YellowJacket Software, Inc. was a privately held financial technology company that operated an electronic trade negotiation platform. Its software let traders combine instant-message conversations and key transaction details on one screen, with tools for communication, negotiation and data. According to the announcement of its sale, the platform served weather, natural gas, power and crude oil markets.
The company was founded in 2002, and Jacob Pechenik was its co-founder and president at the time of the sale. IntercontinentalExchange (ICE) announced in early February 2008 that it had reached a definitive agreement to acquire YellowJacket, which was to operate as a wholly owned ICE subsidiary. ICE did not disclose the terms, said it expected to close the deal in February 2008, and did not expect the acquisition to be material to its results in the first half of that year.
YellowJacket now appears in public records mainly as a former employer. FX News Group, reporting on the Epic Markets pre-seed round, said that Epic Markets founder Kevin Kimmel had previously held senior roles at YellowJacket, which it described as acquired by ICE, as well as at JP Morgan and Tradeweb. No company website, headquarters address or later company history was found.