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Intercontinental Exchange's (ICE) February Volume Declines
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Shares of Intercontinental Exchange, Inc. (ICE - Free Report) lost 0.2% after it reported average daily volume (ADV) for Feb 2017, on Mar 3. The volume for February decreased 5% year over year to 5.8 million contracts. Sequentially the metric increased 3.5%. Of this, Commodities volume increased 2% year over year and averaged approximately 3.5 million contracts per day, while Financials volume decreased 13% year over year and averaged 2.3 million contracts per day. There were 19 trading days in Feb 2017 compared with 20 trading days in the year-ago month.
Energy volume of nearly 3 million contracts per day inched up 3%, while Agricultural and Metals volume of 0.5 million contracts dipped 7%. Also, Interest rate volume of 1.9 million contracts per day declined 7.9%, Equity index volume of 0.4 million decreased 33%. Foreign exchange volume, on the other hand, increased 22% to nearly 0.04 million.
Revenue per contract was 17 cents for Feb 2017, up 13% year over year.
Recently, CME Group Inc. (CME - Free Report) , CBOE Holdings Inc. (CBOE - Free Report) and MarketAxess Holdings Ltd. (MKTX - Free Report) also posted their February volumes. CBOE Holdings’ ADV increased 16% to 5.4 million contracts per day, whereas CME Group witnessed a 1% decrease in ADV to 18.4 million contracts. MarketAxess’ monthly trading volume for Feb 2017 was $117.8 billion.
Shares of Intercontinental Exchange’s underperformed the Zacks categorized Securities Exchanges industry, year to date. While Intercontinental Exchange gained 3.9%, the Securities Exchanges industry registered an increase of 7.6%. Nonetheless, the company’s timely achievement of cost synergies and strategic initiatives have strengthened its growth profile and should drive shares higher.
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Intercontinental Exchange's (ICE) February Volume Declines
Shares of Intercontinental Exchange, Inc. (ICE - Free Report) lost 0.2% after it reported average daily volume (ADV) for Feb 2017, on Mar 3. The volume for February decreased 5% year over year to 5.8 million contracts. Sequentially the metric increased 3.5%. Of this, Commodities volume increased 2% year over year and averaged approximately 3.5 million contracts per day, while Financials volume decreased 13% year over year and averaged 2.3 million contracts per day. There were 19 trading days in Feb 2017 compared with 20 trading days in the year-ago month.
Energy volume of nearly 3 million contracts per day inched up 3%, while Agricultural and Metals volume of 0.5 million contracts dipped 7%. Also, Interest rate volume of 1.9 million contracts per day declined 7.9%, Equity index volume of 0.4 million decreased 33%. Foreign exchange volume, on the other hand, increased 22% to nearly 0.04 million.
Revenue per contract was 17 cents for Feb 2017, up 13% year over year.
Recently, CME Group Inc. (CME - Free Report) , CBOE Holdings Inc. (CBOE - Free Report) and MarketAxess Holdings Ltd. (MKTX - Free Report) also posted their February volumes. CBOE Holdings’ ADV increased 16% to 5.4 million contracts per day, whereas CME Group witnessed a 1% decrease in ADV to 18.4 million contracts. MarketAxess’ monthly trading volume for Feb 2017 was $117.8 billion.
Shares of Intercontinental Exchange’s underperformed the Zacks categorized Securities Exchanges industry, year to date. While Intercontinental Exchange gained 3.9%, the Securities Exchanges industry registered an increase of 7.6%. Nonetheless, the company’s timely achievement of cost synergies and strategic initiatives have strengthened its growth profile and should drive shares higher.
Intercontinental Exchange carries a Zacks Rank #4 (Sell). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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