Intercontinental Exchange Inc Stock Price, News & Analysis

Intercontinental Exchange (NYSE:ICE) announced the U.K. Financial Conduct Authority's (FCA) decision to require ICE Benchmark Administration Limited (IBA) to publish synthetic U.S. dollar LIBOR settings for 1-, 3-, and 6-month terms. This requirement follows the end of the traditional U.S. dollar LIBOR bank panel on June 30, 2023, and is set to continue until September 30, 2024. Starting July 1, 2023, the FCA will prohibit new uses of synthetic U.S. dollar LIBOR by U.K. supervised entities, except for legacy contracts. IBA will also cease traditional LIBOR settings after June 30, 2023, further impacting the LIBOR landscape.

Intercontinental Exchange (NYSE:ICE) reported record liquidity levels in its U.S. natural gas markets as clients navigate price risks. On March 28, 2023, the open interest in North American natural gas futures reached an all-time high of 17.45 million contracts. Overall open interest increased by 17% year-over-year, alongside a 15% rise in trading volumes. Notably, certain regional hubs experienced significant volume spikes, with CIG Rockies Basis futures up 243%. ICE’s financial natural gas markets cover 64 hubs, demonstrating strong demand for hedging amid volatility. The Henry Hub LD1 future recorded a 22% rise in open interest year-over-year.

Intercontinental Exchange (NYSE: ICE) will hold its 2023 Annual Meeting of Stockholders virtually on May 19, 2023, at 8:30 a.m. Eastern Time. Stockholders of record as of March 21, 2023, can participate, vote, and submit questions during the meeting. An advance question submission is available starting May 5, 2023, via proxyvote.com. Details about participation and voting will be included in the proxy statement filed with the Securities and Exchange Commission and available on ICE's investor relations website at www.ir.theice.com in late March.

U.S. Bank has launched new ETF services in Europe, marking a significant expansion of its offerings. The bank will support Horizon Kinetics in launching the European version of its Inflation Beneficiaries ETF (Ticker: INFBN NA), aimed at capitalizing on inflationary trends. This actively managed fund focuses on businesses that can thrive under inflation. U.S. Bank will also leverage its relationship with Intercontinental Exchange (ICE), utilizing the ICE ETF Hub for efficient market operations. With $9.8 trillion in assets under custody as of December 31, 2022, U.S. Bank aims to cater to both U.S. and European ETF clients.

Intercontinental Exchange (ICE) reported record open interest (OI) across its global commodity and energy futures and options markets as of March 15, 2023. The total OI reached 51.1 million contracts, marking a 10% increase since the start of the year, with energy OI at 47 million, an 18% rise. Oil options saw a record trading volume of 567,731 contracts, including 513,567 Brent options. Brent OI is up 28% at 4.98 million contracts. Additionally, natural gas OI rose 9% to 30.4 million contracts, while the environmental complex OI increased by 16% to 1.9 million contracts, highlighting a significant boost in trading activity across ICE's markets.

Intercontinental Exchange (NYSE:ICE) reported record trading activity on March 13, 2023, with 14.45 million futures and options contracts traded, surpassing its previous record from March 12, 2020. Key highlights include a record of 10 million contracts in financial futures and options and 5.49 million in Euribor contracts. Average daily trading volume for the year is 3 million in financials and 1.8 million in Euribor. Open interest has increased by 12% year-to-date in financials, reaching 22.69 million contracts. The surge in trading was attributed to a shift in risk sentiment among U.S. regional bank stocks amidst tightening interest rate expectations.

Intercontinental Exchange (NYSE: ICE) announced the integration of Blue Ocean Technologies' real-time data feed for U.S. equities during Asian business hours into the ICE Consolidated Feed. This enhancement provides global investors access to afterhours market data from 8:00 PM to 4:00 AM ET, coinciding with peak trading periods in Asia. The feed connects over 600 sources, improving transparency and accessibility for investors. Amanda Hindlian, President of ICE Data Services, emphasized the growing need for liquidity in U.S. markets, especially with more Asian companies listed in the U.S.

Intercontinental Exchange (ICE) announced that its Benchmark Administration (IBA) will launch the USD SOFR Spread-Adjusted ICE Swap Rate as a benchmark for financial contracts starting July 3, 2023. Following an initial testing phase since October 2021, IBA plans to implement this rate assuming satisfactory results. The new rate will align with the current USD LIBOR ICE Swap Rate settings, which will cease publication after June 30, 2023. This shift assists the non-linear derivatives market's transition to SOFR, as emphasized by IBA's President, Clive de Ruig.