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Intercontinental Exchange (ICE) Reports Soft December Volumes
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Intercontinental Exchange, Inc.’s (ICE - Free Report) average daily volume (ADV) in December decreased 1.4% to 4.9 million, largely attributable to lower Commodities and Financial ADV. There were 22 trading days in December.
Agriculture and Metals ADV of 0.3 million contracts declined 31.7%. Energy volume increased 3.2% to 2.5 million contracts per day. Commodities ADV decreased 1.8% to 2.7 million in December. The company remains well-positioned for growth on the back of its solid energy franchise.
Interest Rate volume increased 1.3% to 1.5 million contracts per day whereas Equity Index volume increased 7% to 0.6 million contracts. Foreign exchange volume increased 25% to nearly 0.04 million contracts.
Volume growth continues to drive trading and clearing segment revenues.
Revenues per contract were 8 cents for the month, down 27% year over year.
Concurrently, the company estimates fourth-quarter GAAP non-operating expenses between $72 million and $77 million. Adjusted non-operating expenses are anticipated between $126 million and $131 million, given higher-than-expected OCC’s estimated profits for 2020.
For full-year 2020, Futures and Options ADV increased 6% year over year.
Shares of this Zacks Rank #3 (Hold) company have gained 22.5% in a year, compared with the industry’s decline of 11.9%. 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
Recently, CME Group (CME - Free Report) reported December average daily volume of 14.2 million contracts per day, down 8% year over year, attributable to lower volumes in four of the six product lines. MarketAxess Holdings (MKTX - Free Report) reported December volumes of $472.3 billion, comprising $203.5 billion in credit volume and $268.7 billion in rates volume. Cboe Global Markets (CBOE - Free Report) reported total average daily volume (ADV) of 10.8 million contracts in December, up 45.8% year over year driven by solid performance in Options, partly offset by lower Futures volume.
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Intercontinental Exchange (ICE) Reports Soft December Volumes
Intercontinental Exchange, Inc.’s (ICE - Free Report) average daily volume (ADV) in December decreased 1.4% to 4.9 million, largely attributable to lower Commodities and Financial ADV. There were 22 trading days in December.
Agriculture and Metals ADV of 0.3 million contracts declined 31.7%. Energy volume increased 3.2% to 2.5 million contracts per day. Commodities ADV decreased 1.8% to 2.7 million in December. The company remains well-positioned for growth on the back of its solid energy franchise.
Interest Rate volume increased 1.3% to 1.5 million contracts per day whereas Equity Index volume increased 7% to 0.6 million contracts. Foreign exchange volume increased 25% to nearly 0.04 million contracts.
Volume growth continues to drive trading and clearing segment revenues.
Revenues per contract were 8 cents for the month, down 27% year over year.
Concurrently, the company estimates fourth-quarter GAAP non-operating expenses between $72 million and $77 million. Adjusted non-operating expenses are anticipated between $126 million and $131 million, given higher-than-expected OCC’s estimated profits for 2020.
For full-year 2020, Futures and Options ADV increased 6% year over year.
Shares of this Zacks Rank #3 (Hold) company have gained 22.5% in a year, compared with the industry’s decline of 11.9%. 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
Recently, CME Group (CME - Free Report) reported December average daily volume of 14.2 million contracts per day, down 8% year over year, attributable to lower volumes in four of the six product lines. MarketAxess Holdings (MKTX - Free Report) reported December volumes of $472.3 billion, comprising $203.5 billion in credit volume and $268.7 billion in rates volume. Cboe Global Markets (CBOE - Free Report) reported total average daily volume (ADV) of 10.8 million contracts in December, up 45.8% year over year driven by solid performance in Options, partly offset by lower Futures volume.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
See 8 breakthrough stocks now>>