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Intercontinental Exchange (ICE) February ADV Declines Y/Y

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Intercontinental Exchange, Inc.’s (ICE - Free Report) average daily volume (ADV) in February decreased 1.2% to 7.5 million, primarily due to lower Agriculture and Metals ADV, Energy volume, Commodities ADV and Equity Index volume, partially offset by higher interest rate volume and foreign exchange volume. The company reported 12.4% year-over-year increase in Financials volume that increased to 3.4 million contracts per day.

With 19 trading days in February, Agriculture and Metals ADV of 0.5 million contracts decreased 19.5% year over year. Energy volume decreased 8.9% to 3.5 million contracts per day. Commodities ADV decreased nearly 10.4% to 4 million in the month.

Interest rate volume increased 19.4% to 3 million contracts per day. Equity Index volume decreased 29.8% to 0.3 million contracts. Foreign exchange volume was up 35.5% to nearly 0.04 million contracts.

Shares of this Zacks Rank #3 (Hold) company have outperformed the industry in the past year. The stock has rallied 14.1% compared with the industry’s increase of 6.4%. 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 February volumes. While U.S. equity options volume increased 53.5% year over year to 284 million contracts, European options and futures volume decreased 24.2% year over year to 6.9 million contracts.

MarketAxess Holdings (MKTX - Free Report) reported February volumes of $610.4 billion, comprising $225.3 billion in credit volume and $385.1 billion in rates volume.

CME Group Inc. (CME - Free Report) reported soft average daily volume (ADV) for February 2021. Average daily volume of 24.6 million contracts per day was down 18% year over year due to lower volumes in all the six product lines.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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