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Intercontinental Exchange's (ICE) March Volume Improves
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Intercontinental Exchange, Inc. (ICE - Free Report) recently announced that volumes for March have increased 30% year over year to 6.7 million contracts. Sequentially, the metric displayed 14.6% increase. The year-over-year improvement was primarily driven by Financials volume, which jumped 53% to 3.6 million contracts per day. However, an 11% decline in Commodities volume, which averaged approximately 3.1 million contracts per day, partially offset the improvement. There were 23 trading days in Mar 2017 compared with 22 trading days in the year-ago month.
Energy volume increased 12.5% to about 2.7 million contracts per day, while Agricultural and Metals volume dipped 3.6% to 0.5 million contracts. Interest Rate volume surged 87% to 2.8 million contracts per day. Equity Index volume decreased 4.3% to 0.7 million. Foreign exchange volume increased 31% to nearly 0.05 million.
Revenue per contract was 18 cents for Mar 2017, up 20% year over year.
The Zacks Rank #3 (Hold) securities exchange saw its average daily volume inch up 4% year over year in the first quarter of 2017.
Shares of Intercontinental Exchange’s outperformed the Zacks categorized Securities Exchanges industry, year to date. While Intercontinental Exchange’s shares gained 6.27%, the Securities Exchanges industry registered an increase of 4.93%. The company’s broad range of products and risk management services, including trade execution, market data, pre- and post-trade processing and clearing services on an integrated platform, should continue to drive growth. This apart, its strong global data services – including pricing and analytics, desktop and connectivity services across several asset classes for futures and OTC markets as well as diverse liquid, global derivatives and equities markets across 11 regulated exchanges and OTC venues – should add to the upside.
Recently, MarketAxess Holdings Ltd. (MKTX - Free Report) also posted its March volumes. The securities exchange recorded a 32% increase in volumes, on a sequential basis, to $155.2 billion.
American Financial Group engages primarily in P&C insurance with focus on specialized commercial products for businesses. Shares of the company gained 6.96% year to date.
Progressive offers personal and commercial P&C insurance, and other specialty P&C insurance and related services, primarily in the U.S. Shares of the company gained 10.54% year to date.
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Intercontinental Exchange's (ICE) March Volume Improves
Intercontinental Exchange, Inc. (ICE - Free Report) recently announced that volumes for March have increased 30% year over year to 6.7 million contracts. Sequentially, the metric displayed 14.6% increase. The year-over-year improvement was primarily driven by Financials volume, which jumped 53% to 3.6 million contracts per day. However, an 11% decline in Commodities volume, which averaged approximately 3.1 million contracts per day, partially offset the improvement. There were 23 trading days in Mar 2017 compared with 22 trading days in the year-ago month.
Energy volume increased 12.5% to about 2.7 million contracts per day, while Agricultural and Metals volume dipped 3.6% to 0.5 million contracts. Interest Rate volume surged 87% to 2.8 million contracts per day. Equity Index volume decreased 4.3% to 0.7 million. Foreign exchange volume increased 31% to nearly 0.05 million.
Revenue per contract was 18 cents for Mar 2017, up 20% year over year.
The Zacks Rank #3 (Hold) securities exchange saw its average daily volume inch up 4% year over year in the first quarter of 2017.
Shares of Intercontinental Exchange’s outperformed the Zacks categorized Securities Exchanges industry, year to date. While Intercontinental Exchange’s shares gained 6.27%, the Securities Exchanges industry registered an increase of 4.93%. The company’s broad range of products and risk management services, including trade execution, market data, pre- and post-trade processing and clearing services on an integrated platform, should continue to drive growth. This apart, its strong global data services – including pricing and analytics, desktop and connectivity services across several asset classes for futures and OTC markets as well as diverse liquid, global derivatives and equities markets across 11 regulated exchanges and OTC venues – should add to the upside.
Recently, MarketAxess Holdings Ltd. (MKTX - Free Report) also posted its March volumes. The securities exchange recorded a 32% increase in volumes, on a sequential basis, to $155.2 billion.
Stocks to Consider
Some better-ranked stocks from the finance sector are American Financial Group, Inc. (AFG - Free Report) and The Progressive Corporation (PGR - Free Report) . Each stock sports Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
American Financial Group engages primarily in P&C insurance with focus on specialized commercial products for businesses. Shares of the company gained 6.96% year to date.
Progressive offers personal and commercial P&C insurance, and other specialty P&C insurance and related services, primarily in the U.S. Shares of the company gained 10.54% year to date.
Zacks’ Best Private Investment IdeasIn addition to the recommendations that are available to the public on our website, how would you like to follow all Zacks' private buys and sells in real time? Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors. Starting today, for the next month, you can have unrestricted access. Click here for Zacks' private trades >>