Goone to Lead tZero After ICE Investment
Posted by Colin Lambert. Last updated: February 24, 2022
Intercontinental Exchange (ICE) has announced a strategic investment in digital assets trading technology provider and broker-dealer tZero and named its current chief strategy officer, David Goone, as CEO of the firm, although he will continue to consult for ICE chairman and CEO Jeff Sprecher.
The deal will make ICE will make “a significant minority shareholder” in tZero, although terms are not being disclosed, and the financial impact of the transaction will not be material to ICE or impact ICE’s capital return plans, the exchange says.
tZero operates an SEC-regulated alternative trading system (ATS) and broker-dealer in the digital asset space. It brings together issuers and financial firms seeking a transparent, automated, digitally enabled marketplace and investors seeking access to unique private assets, public equities, cryptocurrencies, and other digital assets, including non-fungible tokens (NFTs).
“David Goone was present at many of ICE’s milestone moments and deals over two decades, a key player on our management team as we built our world-class trading, clearing and data infrastructure and product line, and has been a steward of our problem-solving culture,” says Sprecher. “David’s leadership and his mastery of trading, data, and clearing technology will be a big asset as tZero begins its next chapter leading the growth and adoption of next-generation market infrastructure.”
During his tenure at ICE, Goone developed and managed many of the company’s product lines and oversaw ICE Benchmark Administration, which has administered Libor and the global gold and silver fixings. He has served on many of ICE’s subsidiary exchange boards and represents ICE on several industry boards, including the Depository Trust Clearing Corporation (DTCC), Options Clearing Corporation (OCC), and the National Futures Association (NFA). Goone also served as Vice Chairman of CETIP S.A. until its merger with B3 exchange in Brazil.