Intercontinental Exchange Inc Stock Price, News & Analysis

Intercontinental Exchange (NYSE:ICE) has launched the Beta version of its ICE Term SOFR Reference Rates, aimed at providing forward-looking SOFR rates over one to twelve-month periods. These rates will be generated using a Waterfall Methodology, which incorporates dealer-to-client prices and volumes from eligible SOFR-linked interest rate products. Initially for testing, the Beta rates are available for feedback but are not authorized for use as benchmarks in financial instruments. IBA emphasizes the importance of these rates for borrowers and lenders in calculating interest expenses.

Intercontinental Exchange (NYSE:ICE) reported record trading volumes for its SONIA Index futures and options on February 3, 2022, reaching 916,964 contracts. This is a 13% increase over the previous record set on September 16, 2021. Additionally, Euribor futures and options saw 3,857,686 contracts traded on the same day, marking a high for 2022. Open interest in Euribor futures stood at 13.1 million contracts, a 71% year-over-year increase. The surge in trading volume is attributed to the Bank of England's interest rate hike.

Bakkt Holdings, Inc. (NYSE: BKKT) announced preliminary financial results for Q4 2021, reflecting the impacts of its business combination with VPC Impact Acquisition Holdings that closed on October 15, 2021.

Intercontinental Exchange (NYSE: ICE) anticipates a $92 million loss related to its equity investment in Bakkt for the same period. Bakkt expects a pre-tax loss between $150 million and $155 million, including non-cash charges of $45-$50 million for compensation and $79 million for mark-to-market expenses. Final Q4 results will be disclosed on February 17, 2022.

Intercontinental Exchange (NYSE: ICE) reported strong trading metrics for January 2022, with total average daily volume (ADV) up 4% year-over-year and total open interest (OI) up 6% year-over-year. The Energy sector saw a 3% increase in ADV, while the Interest Rate category reported a 13% ADV increase. Notably, Euribor ADV surged by 51% and OI by 71%. In commodities, Cocoa ADV rose by 35% and OI by 25%. These metrics reflect robust market engagement and growing investor activity.

Intercontinental Exchange (NYSE: ICE) announced a first quarter 2022 dividend of $0.38 per share, marking a 15% increase from last year's $0.33. This dividend is payable on March 31, 2022, to stockholders of record as of March 17, 2022. With an anticipated annual dividend total of $1.52 per share, the company expects an aggregate payout of approximately $843 million for 2022, subject to board approval.

Intercontinental Exchange reported a record 2021 net revenue of $7.1 billion, representing an 18% year-over-year increase. The company achieved a GAAP diluted EPS of $7.18, a 90% increase from 2020. Adjusted diluted EPS rose by 17% to $5.15. Operating income reached $3.4 billion with an operating margin of 48%. The fourth quarter saw a net income of $1.5 billion on revenues of $1.8 billion. Record free cash flow exceeded $2.8 billion, marking a 17% increase. A dividend of $0.38/share was announced for Q1 2022, reflecting a 15% year-over-year increase.

Intercontinental Exchange (NYSE: ICE) launched the Midland WTI American Gulf Coast futures contract on January 24, with over 2.8 million barrels traded in its first three days. The contract, identified by the code HOU, can be delivered at Magellan and Enterprise terminals, supported by a pipeline capacity exceeding 4 million barrels per day. By the end of day three, 2,874 contracts representing 1,000 barrels each were traded. This development signifies the U.S. Gulf Coast's growing importance as a global benchmark for crude oil.

Equifax (NYSE: EFX) has launched an enhanced instant employment and income verification service via The Work Number® utilizing the Encompass Partner Connect API platform from ICE Mortgage Technology (NYSE: ICE). This integration allows loan officers to access customizable verification solutions seamlessly, improving efficiency in mortgage applications. The Work Number database provides lenders access to over 500 million employee records, aiding in quicker loan origination. This collaboration aims to streamline the mortgage process, benefiting both lenders and prospective homebuyers.

Intercontinental Exchange (NYSE: ICE) has partnered with CTBC Investments to launch the CTBC Battery and Energy Storage Technology ETF, utilizing the ICE FactSet Battery and Energy Storage Technology Index as its benchmark. This index tracks companies involved in battery manufacturing and related technologies. The ETF marks the first of its kind in Taiwan and will be listed on the Taiwan Stock Exchange on January 25, 2022. ICE has seen significant growth in assets under management, totaling $17.1 billion, attributed to its expanding thematic and ESG ETF offerings in Asia.