Markets

Intercontinental Exchange's (ICE) February Volume Rises

Intercontinental Exchange, Inc.ICE has recently released its February average daily volume numbers. The metric has considerably improved 15.8% year over year to 6.7 million contracts. Moreover, the same sequentially increased 7.6%.

The year-over-year improvement was driven by Financials volume, which surged 31.9% to 3.1 million contracts per day. Further, Commodities volume averaged approximately at 3.6 million contracts per day and increased 4.9% year over year. There were 20 trading days in February, similar to the year-ago month.

Energy volume rose 4.1% to about 3.1 million contracts per day while Agricultural and Metals volume increased 10.2% to 0.5 million contracts. Interest Rate volume soared 37.3% to 2.7 million contracts per day whereas Equity Index volume gained nearly 8% to 0.4 million contracts. Foreign exchange volume declined 20% to nearly 0.03 million contracts.

Revenues per contract were 13 cents for the reported month, down 23.5% year over year.

Shares of Intercontinental Exchange have underperformed the industry in a year's time. The stock has gained 23.9% compared with the industry's rally of 29.0%. However, we expect this Zacks Rank #2 (Buy) securities exchange provider's strategic buyouts, solid product portfolio, risk management services, strong asset under management and a robust capital position to turn the stock around in the near term. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

Recently, securities exchanges namely Cboe Global Markets, Inc. CBOE , CME Group Inc. CME and MarketAxess Holdings Ltd. MKTX also released February 2018 statistics.

Cboe Global Markets' February ADV of 10.6 million contracts soared nearly 44.5% year over year while CME Group reported a record ADV of 27.3 million contracts per day, having risen 48% year over year. Also, MarketAxess has reported a trading volume of $157.8 billion for the month.

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Intercontinental Exchange Inc. (ICE): Free Stock Analysis Report

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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