We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Intercontinental Exchange Posts Increase in August Volumes
Read MoreHide Full Article
Intercontinental Exchange, Inc. (ICE - Free Report) recently announced that volumes for August have increased 12.4% year over year to 4.6 million contracts. Sequentially, the metric displayed a 4.9% decrease. The year-over-year improvement was driven by Financials volume, gaining 5.9% to 1.8 million contracts per day, and 14.7% increase in Commodities volume, which averaged approximately 2.8 million contracts per day. There were 23 trading days in August compared with 21 in the year-ago month.
Energy volume expanded 19.0% to about 2.5 million contracts per day, while Agricultural and Metals volume increased 2.5% to 0.3 million contracts. Interest Rate volume rallied 14.4% to 1.5 million contracts per day. Equity Index volume declined nearly 12% to 0.3 million. Foreign exchange volume surged 33.3% to nearly 0.03 million.
Revenue per contract was 14 cents for August, down 6.7% year over year.
Shares of Intercontinental Exchange have underperformed the industry year to date. While Intercontinental Exchange’s shares have rallied 13.9%, the industry registered an increase of 14.1%. Nonetheless, the company’s broad range of products, risk management services, strategic acquisitions, timely achievement of cost synergies and strategic initiatives should drive the shares and strengthen its 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 - Free Report) , Nasdaq Inc. (NDAQ - Free Report) and MarketAxess Holdings Ltd. (MKTX - Free Report) also posted their August volumes.
CBOE Holdings’ ADV soared 33% to 7.4 million contracts per day, while Intercontinental Exchange witnessed a 12% rise in ADV to 4.6 million contracts. MarketAxess’ monthly trading volume for August was $114.3 billion.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Image: Bigstock
Intercontinental Exchange Posts Increase in August Volumes
Intercontinental Exchange, Inc. (ICE - Free Report) recently announced that volumes for August have increased 12.4% year over year to 4.6 million contracts. Sequentially, the metric displayed a 4.9% decrease. The year-over-year improvement was driven by Financials volume, gaining 5.9% to 1.8 million contracts per day, and 14.7% increase in Commodities volume, which averaged approximately 2.8 million contracts per day. There were 23 trading days in August compared with 21 in the year-ago month.
Energy volume expanded 19.0% to about 2.5 million contracts per day, while Agricultural and Metals volume increased 2.5% to 0.3 million contracts. Interest Rate volume rallied 14.4% to 1.5 million contracts per day. Equity Index volume declined nearly 12% to 0.3 million. Foreign exchange volume surged 33.3% to nearly 0.03 million.
Revenue per contract was 14 cents for August, down 6.7% year over year.
Shares of Intercontinental Exchange have underperformed the industry year to date. While Intercontinental Exchange’s shares have rallied 13.9%, the industry registered an increase of 14.1%. Nonetheless, the company’s broad range of products, risk management services, strategic acquisitions, timely achievement of cost synergies and strategic initiatives should drive the shares and strengthen its 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 - Free Report) , Nasdaq Inc. (NDAQ - Free Report) and MarketAxess Holdings Ltd. (MKTX - Free Report) also posted their August volumes.
CBOE Holdings’ ADV soared 33% to 7.4 million contracts per day, while Intercontinental Exchange witnessed a 12% rise in ADV to 4.6 million contracts. MarketAxess’ monthly trading volume for August was $114.3 billion.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Click here for the 6 trades >>