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Intercontinental Exchange (ICE) Reports Soft June Volumes

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Intercontinental Exchange, Inc.’s (ICE - Free Report) average daily volume (ADV) in June decreased 19.1% to 5.3 million largely attributable to lower Commodities and Financial ADV. There were 22 trading days in June.

Agriculture and Metals ADV of 0.4 million contracts declined 16.9%. Energy volume too decreased 3.7% to 2.7 million contracts per day. Thus Commodities ADV decreased 5.8% to 3.1 million in June.

Interest Rate volume dropped 34.7% to 1.5 million contracts per day whereas Equity Index volume inched up 0.3% to 0.6 million contracts. Foreign exchange volume decreased 15.4% to nearly 0.03 million contracts.

Revenues per contract were 7 cents for the month, down 41.7% year over year.

Shares of Intercontinental Exchange have lost 0.04% year to date, compared with the industry’s decline of 3.1%. 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.


Intercontinental Exchange is set to report second-quarter results on Jul 30. The Zacks Consensus Estimate for quarterly earnings is pegged at $1.08, indicating year-over-year increase of 14.9%. Our proven model predicts that the company is likely to beat on earnings this time around. This is because it has the right combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), #2 (Buy) or #3 (Hold). It has an ESP off +0.31% and a Zacks Rank #3.

The leading global operator of regulated exchanges, clearing houses and listings venues delivered positive surprise in the last reported quarter. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.

Recently, MarketAxess Holdings Ltd. (MKTX - Free Report) , CME Group Inc. (CME - Free Report) and Cboe Global Markets, Inc. (CBOE - Free Report) reported trading volume for June 2019. While MarketAxess reported trading volume of $578.5 billion consisting of $266.5 billion in credit volume and $312.0 billion in rates volume, Cboe Global posted ADV of 10.8 million contracts, up 48.2% year over year. CME Group reported ADV for June 2020 of 17.1 million contracts per day, down 26% year over year attributable to lower volumes in five of the six product lines.

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

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