IntercontinentalExchange (ICE) has struck a deal with Cantor Fitzgerald's trading technology subsidiary, eSpeed, to license its Wagner patent which automates the matching of futures contracts electronically.

The licensing agreement, one of the first for eSpeed, will clear the way for ICE users to trade benchmark futures contracts on the International Petroleum Exchange (IPE), the London-based energy futures exchange purchased last year by ICE. At the time of the purchase, the Atlanta-based ICE voiced its intent to expand its electronic trading platform to encompass IPE's roster of energy futures, which are currently floor-traded.