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IntercontinentalExchange 3Q Profit Rises 17%; Oct. Vol Up 1%

DOW JONES NEWSWIRES

IntercontinentalExchange Inc.'s (ICE) third-quarter profit rose a bigger-than- expected 17% as demand for the company's derivatives-trading services continued to grow.

The exchange operator also said daily volume for its futures markets rose 1% in October from a year earlier, and 2009 volume through October was up 11% on year.

"Over the past year, our markets have shown resilience as customers worldwide increasingly demand the trading and risk management services we offer," said Chief Executive Jeff Sprecher.

Last week, rival CME Group Inc. (CME) reported a 20% gain in profits, but would have shown a decline had the company owned the New York Mercantile Exchange in the year-ago quarter for comparison. CME said last year's third quarter included a spike in volume as people reacted to the financial crisis.

ICE reported third-quarter earnings of $87.5 million, or $1.18 a share, up from $75 million, or $1.04, a year earlier. Revenue jumped 27% to $256.3 million.

Analysts polled by Thomson Reuters had most recently forecast earnings of $ 1.15 on $256 million in sales.

The company said transaction-fee revenue grew 34% to $229 million, helped by new products and strong trading volume in the company's futures and over-the- counter energy segments. Transaction revenue jumped 28% in the futures segment and 39% in the global over-the-counter business.

Shares closed at $102.83 Monday and weren't active premarket. They are up 25% this year.

-By Nathan Becker, Dow Jones Newswires; 212-416-2855; nathan.becker@ dowjones.com;

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