Intercontinental Exchange Inc Stock Price, News & Analysis

Intercontinental Exchange (NYSE: ICE) reported robust growth in its index business in the first half of 2021, bolstered by a significant rise in assets under management (AUM) in ETFs utilizing ICE indices. Notably, over $60 billion in AUM transitioned to ICE benchmarks, fueled by a $186 billion increase in U.S. fixed income ETFs in 2020. The AUM for U.S. thematic ETFs also grew to $133 billion. ICE has launched over 250 new indices, including ESG-focused offerings, contributing to its double-digit revenue growth since acquiring the ICE BofA suite of indices in 2017.

ICE Mortgage Technology, part of Intercontinental Exchange (NYSE: ICE), has been selected by First Tech Federal Credit Union to implement its Encompass® Product and Pricing Service (EPPS). This integration aims to enhance automation, compliance, and scalability for over 720,000 members. EPPS allows for precise loan product pricing and eligibility, reducing risks in the lending process. With this tool, First Tech seeks to improve operational efficiency and streamline the mortgage application process while adapting to future market demands.

The New York Stock Exchange, a subsidiary of Intercontinental Exchange (ICE), announced that Builders FirstSource (BLDR) has transferred its listing to the NYSE starting today. This move allows Builders FirstSource to access various benefits, including advanced technology and enhanced visibility within a network of leading companies. Builders FirstSource, recognized as the largest supplier of building products in the U.S., aims to grow its business through this prestigious affiliation. Since 2000, nearly 300 companies have transitioned to the NYSE, representing over $1 trillion in market value.

Polly has expanded its partnership with ICE Mortgage Technology, integrating Polly's Loan Trading Exchange within Encompass, a leading loan origination software. This partnership aims to streamline workflows for lenders by automating manual processes, allowing for real-time bidding and access to multiple bids simultaneously. The integration is designed to enhance profitability and efficiency in the loan acquisition process, with future enhancements expected to further improve system connectivity. Polly continues to focus on new technologies to revolutionize the mortgage capital markets.

Intercontinental Exchange (NYSE: ICE) announced the integration of ICE Bonds with Investortools' Perform platform, enhancing fixed income portfolio management for institutional and private wealth managers. This collaboration grants Perform users access to ICE Bonds' trading protocols and deep liquidity pools for various bond types. ICE Bonds offers an efficient execution environment, supported by robust compliance and analytics from Perform. With over 450 liquidity providers, ICE TMC reports 99% fill rates on municipal bonds, highlighting the platform's effectiveness in trade processing.

ICE Mortgage Technology reported a continued increase in purchase activity among millennials, with 67% of closed loans in May 2021 being purchases, up from 61% in April. Younger millennials saw an 82% purchase share, while older millennials reached 60%. The average FICO score for millennial borrowers decreased to 732, down from 734 in April. Notably, older millennials closed more purchases than refinances for the first time since August 2020. Additionally, loan closure times improved, with an average of 46 days for all loans.

Intercontinental Exchange (NYSE: ICE) announced a record trading volume of 20,124 ICE Murban Crude Oil Futures on July 6, the highest since the contract's launch on March 29. Since inception, 503,567 contracts have traded, equating to 0.5 billion barrels of Murban crude oil. The August Murban futures contract expired with 6,923 contracts delivered, marking a 14% increase from the previous month. Open interest stands at 51,068 contracts, with an average daily volume of 6,886 contracts since launch, indicating strong market interest and liquidity.

Intercontinental Exchange (NYSE: ICE) has reported significant trading volume increases for June and Q2 2021. Key highlights include a 12% year-over-year rise in total average daily volume (ADV) and an 11% rise in total open interest (OI), with record OI of 85.8 million lots on June 10. Notable gains were seen in various sectors: Energy ADV increased by 7%, Interest Rates ADV surged by 34%, and Natural Gas ADV rose by 13%. This robust activity underscores ICE's role in providing liquid markets and efficient risk management for its clients.

Intercontinental Exchange (NYSE: ICE) reports record growth in its North American environmental complex, driven by increased participation in carbon markets. Average Daily Volume (ADV) has risen by 20% annually since 2017, with open interest surpassing 1.1 million contracts as of June 25. Daily trading includes 6.9 million tons of carbon dioxide in the CCA market. Additionally, ICE's REC futures contracts traded 463,228 as of June 29, equating to enough renewable energy to power approximately 2.7 million homes for a year. The company continues to lead in carbon cap and trade markets globally.