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Intercontinental Exchange (ICE) November ADV Improves Y/Y

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Intercontinental Exchange, Inc.’s (ICE - Free Report) average daily volume (ADV) in November increased 6.8% to 5.4 million, primarily attributable to higher Financial ADV, higher Commodities ADV and Energy volume, partially offset by lower Agriculture and Metals ADV. The company reported 8.1% year-over-year increase in Financials volume that increased to 2.1 million contracts per day.

With 20 trading days in November, Agriculture and Metals ADV of 0.4 million contracts decreased 13.5% year over year. Energy volume improved 9.4% to 2.9 million contracts per day. Commodities ADV increased nearly 6.1% to 3.3 million in the month.

Interest rate volume increased 3.3% to 1.7 million contracts per day. Equity Index volume increased 32.5% to 0.3 million contracts. Foreign exchange volume was up 72.7% to nearly 0.03 million contracts.
Shares of this Zacks Rank #3 (Hold) company have outperformed the industry in the past year. The stock has rallied 14.8% compared with the industry’s increase of 5.3%. The company’s product portfolio, along with a broad range of risk management services, strategic buyouts and a robust capital position will likely help the stock retain its growth momentum.

Recently, Nasdaq (NDAQ - Free Report) reported November volumes. While U.S. equity options volume increased 77.9% year over year to 242 million contracts, European options and futures volume decreased 25.3% year over year to 5.9 million contracts.

MarketAxess Holdings (MKTX - Free Report) reported total trading volume of $503.9 billion for November 2020, which marked a 9.4% improvement year over year.

CME Group (CME - Free Report) reported an impressive average daily volume (ADV) for November 2020. Average daily volume of 19.3 million contracts per day was up 6% year over year, attributable to higher volumes in three of the six product lines.

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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