US energy giant the IntercontinentalExchange has become the latest exchange group to look at diversifying its business by making an acquisition with a £395m (€455m) bid to buy emissions market Climate Exchange.

Atlanta-based Ice trades a range of exchange-based and over-the-counter physical and financial futures contracts, including emissions, but it claimed the acquisition of the UK-based emissions exchange, which operates European and US markets, repositions the energy exchange.