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Intercontinental Exchange Posts Solid Q3 & September ADV

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Intercontinental Exchange’s (ICE - Free Report) third-quarter average daily volume (ADV) increased 12% year over year while open interest increased 11% year over year.

Concurrently, the company also reported solid September volumes attributable to higher Commodities as well as Financial ADV. Agriculture and Metals ADV of 0.5 million contracts improved 13.1%. Energy volume too increased 9.7% to 3.2 million contracts per day. Commodities ADV increased 10.2% to 3.7 million in September.

The company reported nearly 2% year-over-year increase in Financials volume that increased to 3.1 million contracts per day. There were 20 trading days in September.

Interest Rate volume increased 1.6% to 2.4 million contracts per day whereas Equity Index volume increased 3.4% to 0.7 million contracts in September. However, Foreign exchange volume decreased 2.8% to nearly 0.04 million contracts.

Revenues per contract were 12 cents for the month, in line with the year-ago period.

Shares of Intercontinental Exchange gained 7.4% in the third quarter, in line with the industry. 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 retain its growth momentum.


Recently, MarketAxess Holdings (MKTX - Free Report) , CME Group (CME - Free Report) and Cboe Global Markets (CBOE - Free Report) reported trading volume for September 2019. MarketAxess’ trading volume of $176.1 billion for the month consisted of $88.7 billion in U.S. high-grade volume, $83.9 billion in other credit volume, and $3.5 billion in liquid products volume. CME Group reported double-digit increase in September ADV in Interest Rate options, Equity Indexes, Energy and Metals. Foreign Exchange and Agricultural Commodities reported single-digit decline in September ADV. Cboe Global Markets’ total ADV of 8.2 million contracts improved 13.4% year over year driven by solid performance across Option.

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