Which of the following statements regarding the Intercontinental Exchange $($ICE$)$ are not true?

Multiple Choice

ICE started out as a futures and options market for oil, coal, gas, and electricity.

ICE, through its ownership of the NYSE, owns the American Exchange, the Chicago Stock Exchange, the Cincinnati Sto

Exchange, among others.

The electronic trading system ICE developed was inefficient compared to traditional exchanges.

All of these statements are true.