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Intercontinental Exchange’s (ICE) September Volumes Rises

Zacks

Intercontinental Exchange, Inc. ICE recently announced that volumes for September have increased 21.2% year over year to 6.4 million contracts. Sequentially, the metric displayed a nearly 39% improvement. However, shares of the company have lost about 2% in the last two of trading sessions following the release.

The year-over-year improvement was driven by Financials volume, surging 36.1% to 3.2 million contracts per day and rallying 13.1% in Commodities volume, which also averaged approximately at 3.2 million contracts per day. There were 20 trading days in August compared with a day extra in the year-ago month.

Energy volume expanded 12.6% to about 2.8 million contracts per day, while Agricultural and Metals volume increased 16.7% to 0.4 million contracts. Interest Rate volume soared 79% to 2.5 million contracts per day. Equity Index volume declined nearly 12.6% to 0.7 million. Foreign exchange volume climbed 25% to nearly 0.05 million.

Revenue per contract was 14 cents for September, flat year over year.

Shares of Intercontinental Exchange have underperformed the industry year to date. The stock has gained 22.4%, marginally ahead of the industry’s registered increase of 22.0%.

The company’s broad range of products, risk management services, strategic acquisitions, timely achievement of cost synergies and strategic initiatives should drive the shares higher and strengthen the stock’s growth profile. The company carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Recently, securities exchanges namely, CBOE Holdings Inc. CBOE, CME Group Inc. CME and MarketAxess Holdings Ltd. MKTX also posted their September volumes.

CBOE Holdings’ ADV declined 5.4% to 7.0 million contracts per day, while CME Group witnessed a 13% rise in ADV to 17 million contracts. MarketAxess’ monthly trading volume for September was $116.8 billion.

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