We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Intercontinental Exchange's (ICE) May Volume Declines Y/Y
Read MoreHide Full Article
Intercontinental Exchange, Inc. (ICE - Free Report) reported soft average daily volume (ADV) for the month of May as the same decreased 18.7% to 5.3 million attributable to lower Financial as well as Commodities ADV. There were 22 trading days in May. Nonetheless, shares gained 0.5% in the last couple of trading sessions.
Though Agriculture ADV of 0.4 million contracts increased 4.9%, a 2.2% drop in Energy volume to 2.8 million contracts per day induced Commodities ADV decline of 1.4% to 3.2 million in May.
Interest Rate volume dropped 39% to 1.8 million contracts per day whereas Equity Index volume dropped 3.5% to 0.3 million contracts. Foreign exchange volume plunged 39% to nearly 0.02 million contracts.
Revenue per contract on a three-month rolling basis was 12 cents for the month, down 7.7% year over year.
Shares of Intercontinental Exchange have slightly underperformed the industryyear to date. The stock has rallied 13.3% compared with the industry’s increase of 13.7%. Nonetheless, the company’s product portfolio along with a broad range of risk management services, strategic buyouts, solid energy franchise, increasing recurring market data revenues and a robust capital position will likely help the stock retain its momentum.
This Zacks Rank #3 (Hold) second-largest fixed income provider globally boasts 5,000 indices, representing more than $1 trillion in benchmark assets under management, 12 exchanges, six clearing houses and nine asset classes.
Recently, securities exchanges, namely Nasdaq Group Inc. (NDAQ - Free Report) , MarketAxess Holdings Ltd. (MKTX - Free Report) and CME Group Inc. (CME - Free Report) also posted their respective monthly volumes.
Nasdaq’s U.S. equity options volume increased 10% year over year to 154 million contracts, European options and futures volume increased 14.5% year over year to 8.7 million contracts. MarketAxess reported trading volume of $174 billion for May. Total volume included $89.3 billion in U.S. high-grade volume, $80.6 billion in other credit volume and $4.1 billion in liquid products volume. CME Group reported average daily volumes increase of 19% year over year to 23.9 million contracts per day on higher volumes across four product lines.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +98%, +119% and +164% in as little as 1 month. The stocks in this report could perform even better.
Image: Bigstock
Intercontinental Exchange's (ICE) May Volume Declines Y/Y
Intercontinental Exchange, Inc. (ICE - Free Report) reported soft average daily volume (ADV) for the month of May as the same decreased 18.7% to 5.3 million attributable to lower Financial as well as Commodities ADV. There were 22 trading days in May. Nonetheless, shares gained 0.5% in the last couple of trading sessions.
Though Agriculture ADV of 0.4 million contracts increased 4.9%, a 2.2% drop in Energy volume to 2.8 million contracts per day induced Commodities ADV decline of 1.4% to 3.2 million in May.
Interest Rate volume dropped 39% to 1.8 million contracts per day whereas Equity Index volume dropped 3.5% to 0.3 million contracts. Foreign exchange volume plunged 39% to nearly 0.02 million contracts.
Revenue per contract on a three-month rolling basis was 12 cents for the month, down 7.7% year over year.
Shares of Intercontinental Exchange have slightly underperformed the industry year to date. The stock has rallied 13.3% compared with the industry’s increase of 13.7%. Nonetheless, the company’s product portfolio along with a broad range of risk management services, strategic buyouts, solid energy franchise, increasing recurring market data revenues and a robust capital position will likely help the stock retain its momentum.
This Zacks Rank #3 (Hold) second-largest fixed income provider globally boasts 5,000 indices, representing more than $1 trillion in benchmark assets under management, 12 exchanges, six clearing houses and nine asset classes.
Recently, securities exchanges, namely Nasdaq Group Inc. (NDAQ - Free Report) , MarketAxess Holdings Ltd. (MKTX - Free Report) and CME Group Inc. (CME - Free Report) also posted their respective monthly volumes.
Nasdaq’s U.S. equity options volume increased 10% year over year to 154 million contracts, European options and futures volume increased 14.5% year over year to 8.7 million contracts. MarketAxess reported trading volume of $174 billion for May. Total volume included $89.3 billion in U.S. high-grade volume, $80.6 billion in other credit volume and $4.1 billion in liquid products volume. CME Group reported average daily volumes increase of 19% year over year to 23.9 million contracts per day on higher volumes across four product lines.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +98%, +119% and +164% in as little as 1 month. The stocks in this report could perform even better.
See these 7 breakthrough stocks now>>