Intercontinental Exchange, Inc. reports developments across financial market technology, exchange operations, clearing, data services and U.S. mortgage technology. The company operates futures, equity and options exchanges, including the New York Stock Exchange, clearing houses, energy and environmental markets, fixed income data and execution capabilities, and ICE Mortgage Technology workflows for housing finance.
Recurring news covers quarterly operating results, trading volume and open interest statistics, dividends and share repurchases, mortgage performance and home-price reports, index and market-data products, and data collaborations such as sustainable bond classification. Company updates also reflect how ICE packages market data, analytics and workflow tools for capital markets, fixed income, housing finance and exchange-listed markets.
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.
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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.
Intercontinental Exchange (NYSE: ICE) is opposing the Federal Trade Commission's (FTC) challenge to its acquisition of Black Knight (NYSE: BKI). ICE argues that this merger will advance a more efficient housing finance system by automating and enhancing transparency in the mortgage industry. The company previously agreed to divest Black Knight's Empower loan origination system to facilitate regulatory clearance. Despite the FTC's litigation, ICE is confident in prevailing and aims to finalize the acquisition by Q3 or Q4 2023.
Intercontinental Exchange (NYSE:ICE) will auction carbon credits from UpEnergy’s Improved Cookstove Programme in Uganda. This initiative promotes cleaner cooking technologies to improve health and reduce carbon emissions.
Each locally made cookstove uses 45% to 55% less charcoal, potentially cutting several tons of CO2 emissions annually per household. ICE plans two auctions of 250,000 carbon credits each in 2023, facilitating direct investment in emissions reductions.
These auctions aim to streamline carbon credit transactions and encourage corporate investment in sustainability initiatives that support low-income communities.