Intercontinental Exchange Reviews | Glassdoor

Intercontinental Exchange Reviews

Updated May 23, 2017
178 reviews

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Full-time Part-time

3.2
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Intercontinental Exchange Chairman and CEO Jeffrey C. Sprecher
Jeffrey C. Sprecher
99 Ratings

178 Employee Reviews

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Pros
  • Relaxed work environment, good work/life balance (in 12 reviews)

  • Good benefits and decent starting salary (in 12 reviews)

Cons
More Pros and Cons

  1. Helpful (7)

    "Lot of room for improvement"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Technologist in Chicago, IL
    Former Employee - Technologist in Chicago, IL
    Doesn't Recommend

    Pros

    New bright/clean offices. Nice co-workers, some good managers. A potential opportunity to learn about Credit Default Swap Clearing business (just clearing, not trading/pricing) from the leader. Some interesting new technologies mixed in with the '80s Perl code. Lively office location/neighborhood (albeit slightly inconvenient for suburbanites). Good discounts at some local restaurants. Occasionally Hollywood movie filming in the area.

    Cons

    *This review specifically applies to "ICE Trust LLC" which is the OTC Credit Default Swap clearing house for the Interncontinental Exchange.

    This employer exhibited some red flags when several senior people left in 2010 after only working there a few months (< 6 months on average). Notable departures include a Senior Software Engineer, Systems Analyst, QA Lead and one (of two!) DBA. As this is only about a 40 man team, the overall level of attrition was disturbing.

    ICE TRUST sold itself as a growing company with a need for "senior" people which turned out to be rather false as new ideas were rejected or at best shelved "until later" as impossible deadlines kept the focus on things that needed to be done yesterday. ZERO work-life balance. Technologists were routinely working on the weekends to release software to Production. The good engineers were (privately) praised for working round-the-clock Citadel-style. In fact the pace of change proved too rapid and the group ended up making some costly mistakes and was put on "timeout" by Atlanta management. Some serious inter-group dysfunctions, in particular their Quants would rather not work with anyone outside of their Ivory Tower which was quite contradictory to my experience with Quants at other financial institutions. Overall their SDLC and other methodologies were weak and fragile as compared to my previous financial employers. Code was branched ad nauseum, very scary situation. They were forced to bifurcate their system in order to gain first mover advantage in 2009 and a looming high-risk code merge awaits them in 2011 (more off-peak work hours for sure). QA team seems completely marginalized as are their other analysts, I would be surprised if half of them didn't quit in 2011 post-bonuses. The performance of a software team can be partially ascertained by the relative contribution of their non-developer auxiliary teams. As such this place gets a D minus though it's NOT the fault of those individuals, they are smart and work hard. Rather, something completely fundamental is broken and the tail is pretty much wagging the dog here.

    Management quality varied greatly. Overall managers tended to focus on "managing up" rather than growing and coaching their own team. It was hilarious watching people scramble to enter their *2010* career goals in the month of DECEMBER (at the END of the year)!! ICE offers ZERO tuition reimbursement support, quite unlike their cross-town competitor (CME Group) and other major financial institutions in Chicago. At ICE TRUST it seems "Career Development" = "What have you done for me lately?" If you're considering going to ICE Trust, CONSIDER ANOTHER COMPANY!! You've been warned.

    Advice to Management

    You have managed to achieve a level of success but need to really reflect on your core values and methodologies if you intend on elevating your organization to the next level. Good luck in 2011 (esp. after bonuses are paid), surely things can only improve. As one of your departing technologists said it best, "this place needs more 'Indians' (i.e., low-level workers), not Chiefs."


  2. Helpful (1)

    "Potential of good salary with no work life balance. (ICE Chicago)"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Senior Developer in Chicago, IL
    Former Employee - Senior Developer in Chicago, IL
    Doesn't Recommend
    No opinion of CEO

    Pros

    This review is for IntercontinentalExchange Chicago, formally ICE Clear Credit. There is great potential for above average pay no matter what experience level. The company has very talented individuals that are dedicated to their jobs, especially in the technical domain. The office is very clean and there are great views to the chicago skyline.

    Cons

    This review is for IntercontinentalExchange Chicago, formally ICE Clear Credit or ICE Trust (Credit Default Swap Clearing house for ICE).

    There is zero work life balance; long days and regular weekend work are expected. There is an incredible amount of attrition caused both by employee choice and personal management issues on very small development teams. Several inexperienced managers hired by upper management friends especially in the technology area, this should eventually improve over time as the attrition and overall employee dissatisfaction continue. The review process is one directional with little opportunity to provide upward feedback. The code base is currently broken in two with a large monolithic J2EE application, PERL scripts, minimal unit tests and a second progressive version authored as dozens of interdependent projects. Innovation is defined as revisioning obsolete systems into somewhat modern architecture.

    Please read the other review of ICE Chicago 2010 as it is still completely accurate as of 2012. Expect the same attrition throughout the year.

    Advice to Management

    Evaluate suggestions objectively, treat individuals equally, and focus on retaining talent.
    I believe there is a strong opportunity for the teams to be highly functional out of respect and unity as opposed to tyranny.


  3. Helpful (6)

    "Toxic"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Positive Outlook
    No opinion of CEO

    I have been working at Intercontinental Exchange full-time (More than 8 years)

    Pros

    compensation is good.stock options are good.free food is good.

    Cons

    growth of employees is stunted especially if ICE acquires company1 and if the company1 employees are not trusted and allowed to grow,it is mutual distrust till the employee is let go due to marginalization.

    Advice to Management

    talent needs to be appreciated even if it comes from the acquired company.


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  5. Helpful (15)

    "1950s policy towards women"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Recommends
    Neutral Outlook
    Disapproves of CEO

    Pros

    Good bonus program, good benefits

    Quality work if you can keep up with the pace.

    Cons

    Little if no work from home policy, the immature CEO seems to treat women the same way they were decades ago.

    We do wonder, what's next? Should they bake a cake? Iron a shirt?

    Where is your approach towards a modern woman that wants to balance work and her family?

    Advice to Management

    You get a one star on the issue of the treatment of women alone. Modernize your thought process.


  6. Helpful (16)

    "Its a Shanghai sweat shop"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Negative Outlook

    Pros

    The business is a good one to get into .

    Cons

    Very poor company , make lots of promises on bonus but never fulfill them , expectation is the work 9 hrs and go home and work some more . If you do some side work for your own knowledge it is discouraged completely . They give u rsu ( restricted stock unit ) every year as part of bonus and only 33 % gets vested , if you dont obey what they say they will let you go and keep the stock . They lawyers in this company are very smart and cover all the grounds so no one can sue them .SO BE VERY CAREFULL


  7. Helpful (10)

    "Ruining the NYSE"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Compliance
    Current Employee - Compliance
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    Not much to say as a pro...management is changing the NYSE culture for the worse.

    Cons

    ICE management thinks NYSE can do no right.

    Advice to Management

    Sell off NYSE, you never really wanted it anyway.


  8. Helpful (6)

    "It started well then NYSE happened"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at Intercontinental Exchange full-time

    Pros

    Compensation is pretty good and the work life balance is decent enough. My department *was* great to work in, the people were (and largely still are) great to work with, and things were well run until a NYSE person was promoted ahead of the ICE manager of my department. All of that was before ICE was infected by NYSE's people and culture.

    Cons

    The company's culture has been completely replaced by that of NYSE and that is disastrous. ICE may have bought NYSE, but it very much seem like it's the other way around.
    Since a NYSE person was promoted ahead of my manager we have been micromanaged and our jobs are made much harder by this. The senior ICE management has allowed the former NYSE personnel to be promoted ahead of their own people and this has caused a great deal of resentment among the long term employees of ICE.
    IT policies have changed as well and the NYSE policy of locking down employee workstations to the point to where it makes getting anything done to be tedious and everyone's jobs to be far more difficult than they need to be has become the new norm.
    All of this has brought me to the point where I'm so considering leaving the company that I am actively looking for a new job. Should one come along that matches the compensation I'm getting at ICE I will promptly give my 2 weeks notice as many other ICE employees have done in the last several months.

    Advice to Management

    Terminate the remaining NYSE management, replace their policies/practices with those of ICE (which have been proven to work far, far better), and take the assets and name of NYSE without the baggage its people and culture brings along with them. There's a reason why ICE has grown and NYSE remained stagnant for decades upon decades to the point where it was bought out by a much younger company.

    tldr; Take what's left of the pre-takeover NYSE out back, shoot it in the head, and leave it for the crows. Either that or be content in losing even more of the good people you already had.


  9. Helpful (6)

    "Aweful"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    Not many pros for this company as if your not designated as a director, you're treated like a dog.

    Cons

    Not sure I can determine all the cons in 20 words or more. Weak management, weak structure, either you're in the club or you're a dog.


  10. Helpful (2)

    "Not a positive place to work"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Editor in Phoenix, AZ
    Current Employee - Editor in Phoenix, AZ
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at Intercontinental Exchange full-time (More than 5 years)

    Pros

    Average pay; colleagues still left from our acquired company are great; we make a great team

    Cons

    When we were acquired by ICE everything about our company fell apart. We lost flexibility, work at home privileges, salaries were barely adjusted, bonuses were lower, and our company culture suffered. ICE promised "transparency" and instead dismantled our company and is closing our Phoenix office. We were a growing company and now we have been hollowed out and taken apart.

    Advice to Management

    Shed hidebound notions of the workplace and adjust for work/life balance. Telecommuting is the future of the workplace; allow some flexibility for that. Allow people to develop the company culture to help boost morale. And try being truly "transparent."


  11. Helpful (9)

    "Very negative atmosphere"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Doesn't Recommend
    Negative Outlook

    I have been working at Intercontinental Exchange full-time

    Pros

    Employees who worked for our company before ICE acquired it are great to work with. Lots of team spirit (before we were acquired). Fairly easy to move between departments to find the right fit. Big name that's easily recognizable (NYSE).

    Cons

    When ICE acquired us, they completely destroyed our company culture. We lost everything that made us unique and became cogs in the ICE machine. Then they decided to fire (almost) everyone and close our entire office. Work/life balance is non-existent. Management constantly talks about transparency while providing absolutely none.

    Advice to Management

    Care about your employees. Morale is important -- once it's lost, work suffers. Really be transparent about future plans.


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