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Intercontinental Exchange September ADV Soft, Q3 Volumes Solid

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Intercontinental Exchange, Inc.’s (ICE - Free Report) average daily volume (ADV) in September decreased 10.7% to 6.1 million, largely attributable to lower Energy, Commodities and Financial ADV. There were 21 trading days in September.

Agriculture and Metals ADV of 0.4 million contracts declined 14.7%. Energy volume too decreased 10.6% to 2.8 million contracts per day. Thus, Commodities ADV decreased 11.2% to 3.3 million in September.

Interest rate volume dropped 12.2% to 2.1 million contracts per day whereas Equity Index volume declined 5% to 0.6 million contracts. Foreign exchange volume decreased 42.8% to nearly 0.05 million contracts.  

Q3 Volumes

Intercontinental Exchange’s third-quarter heating oil ADV increased 184% year over year, RBOB gasoline increased 261% year over year.

European natural gas ADV was up 5% year over year. North American natural gas ADV rose 9% year over year.

Price Performance

Shares of this Zacks Rank #3 (Hold) company have outperformed the industry in the past year. The stock has rallied 7.9% against the industry’s decline of 1.2%. The company’s compelling product portfolio, along with a broad range of risk management services, strategic buyouts and a robust capital position will likely help the stock bounce back.

September Volumes of Other Securities Exchanges

Recently, securities exchanges, namely CME Group Inc. (CME - Free Report) and MarketAxess Holdings Ltd. (MKTX - Free Report) and Cboe Global Markets, Inc. (CBOE - Free Report) also posted their respective September 2020 volumes.

While MarketAxess reported trading volume of $461.0 billion, consisting of $206.2 billion in credit volume and $254.8 billion in rates volume, Cboe Global posted ADV of 10.4 million contracts, up 26.4% year over year. CME Group reported ADV for September 2020 of 16.9 million contracts per day, down 14% year over year, attributable to lower volumes in four of the six product lines.

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