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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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.
8 Stocks with Huge Profit Potential
Just released: Driverless Cars: Your Roadmap to Mega-Profits Today. In this latest Special Report, Zacks’ Aggressive Growth Strategist Brian Bolan explores a full-blown technological breakthrough in the making – autonomous cars. He also spotlights 8 stocks with tremendous gain potential to feed off this phenomenon. Click to see the stocks right now >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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