Intercontinental Exchange Inc Stock Price, News & Analysis

Intercontinental Exchange (NYSE:ICE) and ADP (NASDAQ:ADP) have revealed plans to launch a new alternative data offering for the U.S. municipal bond market. This initiative combines ICE's expertise in municipal bond pricing with ADP's workforce data to enhance transparency and insights for investors. Available through the Snowflake Data Marketplace, this data aims to improve understanding of municipal bond issuers' creditworthiness, addressing challenges related to data scarcity and consistency in the market.

Intercontinental Exchange (NYSE:ICE) has launched the ICE Term SONIA Reference Rates (ICE TSRR) as forward-looking benchmarks for financial instruments. These rates cover one, three, six, and 12-month tenors and are based on a Waterfall Methodology utilizing price data from eligible SONIA-linked interest rate derivatives. The launch follows a testing period initiated on June 25, 2020. Published daily, the ICE TSRR aims to support financial markets in their transition to new benchmarks, aiding businesses and borrowers in managing interest expenses effectively.

Intercontinental Exchange (NYSE: ICE) announced Bakkt Holdings' merger with VPC Impact Acquisition Holdings (NASDAQ: VIH), valuing the combined entity at approximately $2.1 billion. The deal includes a cash contribution of up to $207 million from VIH's trust and a $325 million private placement, with ICE committing $50 million. Upon completion, ICE will hold about 65% economic interest in Bakkt Holdings, expected to launch by Q2 2021. Bakkt's estimated Q1 2021 revenue is $7 million against a $25 million operating expense.

Intercontinental Exchange (NYSE:ICE) reported its December, fourth quarter, and full year 2020 trading volume and revenue statistics. The details are accessible on its investor relations website. Ben Jackson, President of ICE, emphasized the challenges faced by customers in navigating uncertainties in global markets throughout 2020. The company's performance metrics can provide insights for investors regarding its operational efficiency and market positions.

Intercontinental Exchange (NYSE:ICE) reported record trading volumes for fixed income portfolio trading in Q4 2020, with over $1.9 billion executed, more than a twofold increase from the previous quarter. This marks the strongest activity since ICE introduced portfolio trading. The portfolio trading now represents nearly 5% of total bond market volumes, tripling previous figures. The success follows the re-launch of ICE Bonds' auction protocol, catering to institutional investors with efficient trading options.

Intercontinental Exchange (NYSE: ICE) announced the passing of longtime board member Jean-Marc Forneri on December 28, 2020. His contributions to the company since 2002 were highlighted by CEO Jeffrey Sprecher, who expressed deep sadness over the loss. Forneri, a senior partner at Bucephale Finance, was instrumental in ICE's foray into electronic trading. Following his death, the Board of Directors comprises 13 members. ICE, a Fortune 500 company, provides marketplace infrastructure and technology solutions, operating major regulated marketplaces including the New York Stock Exchange.

Intercontinental Exchange (NYSE: ICE) has announced its 2023 holiday calendar for cash equity markets, including the New York Stock Exchange and NYSE American. The calendar outlines early closing dates and holiday observances, including New Year’s Day (January 2), Martin Luther King, Jr. Day (January 16), and others through the year. Notably, markets will close early at 1:00 PM on certain dates, with specific details regarding crossing session orders. The NYSE Group leads U.S. equity volume and remains a key player in global markets.

Intercontinental Exchange (NYSE: ICE) has appointed Jaime L. Klima as the new Chief Regulatory Officer of NYSE Group. Klima, who will assume her responsibilities in January 2021, previously held senior positions at the Commodity Futures Trading Commission and the Securities and Exchange Commission. Her extensive regulatory background will guide NYSE Regulation in enforcing compliance with listing standards and federal securities laws. President Stacey Cunningham expressed confidence in Klima's leadership during crucial times for capital markets.

Intercontinental Exchange (NYSE:ICE) has been selected to conduct emissions auctions for the UK Government's Department for Business, Energy and Industrial Strategy. This initiative supports the launch of the UK Emissions Trading Scheme (UK ETS) starting January 1, 2021, which replaces the EU ETS. Auctions are set to begin by the second quarter of 2021, pending regulatory approval. ICE has a strong background in environmental markets, with open interest in EUA hitting a record €51.4 billion, reflecting a 20% increase in average daily volume. ICE has hosted EUA auctions for the UK Government since 2012.