Intercontinental Exchange Inc Stock Price, News & Analysis

Intercontinental Exchange (NYSE:ICE) announced record participation in its North American environmental markets, with 270 companies trading last year. The total of 3.64 million contracts traded marks a 5% increase over 2021, with average daily volume rising 5.5% to 14,500 contracts. In December 2022, about 372 million carbon allowances valued at $2.5 billion were delivered through ICE. The company also reported a 40% growth in renewable energy certificate trade, with over 981,302 contracts traded, equivalent to 87.6 million megawatt hours. Additionally, LCFS credits saw an increase of over five times in traded volumes compared to 2021.

Intercontinental Exchange (NYSE: ICE) announced the first delivery of Low Sulphur Gasoil futures, following adjustments to comply with EU sanctions barring Russian oil. The delivery, totalling 69,800 tons, occurred in the Amsterdam, Rotterdam, and Antwerp areas, matching January 2022 levels. Open interest for Gasoil contracts rose 13% in 2023 to 596,900 contracts, with trading volumes increasing by 40% compared to December 2022. The updated contract, which excludes Russian oil, aims to provide market participants with confidence amid geopolitical tensions. ICE’s Gasoil contract is a benchmark in refined oil products, reinforcing its role in global markets.

Intercontinental Exchange (NYSE: ICE) reported record trading volumes in SONIA futures and options, with 1.147 million contracts traded on February 2, 2023. This includes a peak of 979,561 SONIA futures, marking a 19% increase over the previous record. Year-to-date, open interest in SONIA has surged by 33% to 2.758 million contracts. The increased trading activity reflects renewed investor confidence in the U.K. interest rate markets, bolstered by liquidity measures taken last year. Additionally, open interest in Euribor futures has risen by 23% year-over-year, along with a 42% increase in average daily volume, highlighting a robust performance in ICE's rate markets.

Intercontinental Exchange (NYSE:ICE) reported a 9% year-over-year increase in total average daily volume (ADV) for January 2023. Key highlights include a 5% rise in energy open interest, with natural gas ADV increasing by 19% and open interest by 14%. Agricultural and metals ADV surged by 23%, while financials ADV rose by 24%, driven by a significant 31% increase in interest rate ADV, particularly a 44% spike in Euribor. Overall, these statistics indicate a robust trading environment, reflecting strong market demand and participant engagement.

Intercontinental Exchange (NYSE: ICE) announced an increase in its quarterly dividend to $0.42 per share, an 11% rise from last year's $0.38. This cash dividend will be payable on March 31, 2023 to shareholders recorded as of March 17, 2023, with an ex-dividend date of March 16, 2023. For 2023, ICE expects a total annual dividend of $1.68 per share, with subsequent payments scheduled through the year, contingent on board approval.

Intercontinental Exchange (NYSE: ICE) reported a record net revenue of $7.3 billion for 2022, marking a 2% year-over-year increase. However, GAAP diluted EPS of $2.58 fell 64% y/y, mainly due to losses from Bakkt and prior divestments. The adjusted diluted EPS improved by 5% to $5.30. Operating income also reached a record $3.6 billion, with a 50% operating margin. Fourth quarter revenues totaled $1.8 billion, down 4% y/y, while operating expenses were $904 million. ICE generated $3.6 billion in operating cash flow, up 14% y/y. An 11% increase in the Q1 2023 dividend was announced. The company aims for continued growth amid evolving market conditions.

THOR Financial Technologies announced the transfer of its THOR Low Volatility ETF (THLV) to the NYSE, effective February 1, 2023. This transfer will not require any action from shareholders and is expected to maintain current trading conditions. Brad Roth, Chief Investment Officer, highlighted that this move aims to improve pricing consistency and enhance the trading experience for investors. The ETF seeks to invest at least 80% of its assets in securities of the THOR Low Volatility Index, focusing on U.S. large-cap equities with reduced volatility. The NYSE expressed confidence in providing superior liquidity and market services for the ETF.