IntercontinentalExchange today announced that it has entered into an agreement to acquire YellowJacket Software, Inc., a financial technology firm.

YellowJacket operates an electronic trade negotiation platform offering a range of trading tools. It allows traders to aggregate and consolidate fragmented instant message-based communications and key transaction details on a single screen. Markets currently served include weather, natural gas, power and crude oil. Formed in 2002, YellowJacket is privately held. The new business will be operated as a wholly owned subsidiary of ICE.

ICE expects to complete its acquisition of YellowJacket in February. Terms of the transaction were not disclosed. The acquisition is not expected to be material to ICE’s operating results during the first half of 2008.

“YellowJacket brings an innovative application that is uniquely positioned to meet the demand for electronic efficiencies in the OTC markets where complex options or structured products are involved,” said ICE chairman and chief executive officer, Jeffrey Sprecher. “We see many applications of this technology beyond the energy and weather categories, particularly when coupled with ICE’s expanding clearing capabilities.”