Intercontinental Exchange Inc Stock Price, News & Analysis

Intercontinental Exchange (NYSE:ICE) announced the UK’s new Emissions Trading Scheme (ETS) auction calendar, with the first auction set for May 19, 2021, pending regulatory approval. ICE will host these auctions for the UK Government's Department for Business, Energy and Industrial Strategy. ICE plans to launch UK Allowance (UKA) Futures contracts on the same date, with UKA Daily Futures following on May 21, 2021. The UK ETS aims to enhance climate goals, building on the success of the previous EU system, with carbon trading on ICE reaching over 14 gigatonnes annually.

Intercontinental Exchange (NYSE: ICE) reports significant growth in its Marine Fuel and Wet Freight sectors, driven by the International Maritime Organization's sulphur cap regulation. Following the cap's implementation in January 2020, ICE launched over 15 cash-settled Marine Fuel contracts, leading to record Open Interest of over 270 million barrels and a 115% year-over-year increase in traded volumes. Wet Freight also hit records, exceeding 106,000 lots. This growth indicates a rising demand for hedging tools among customers, reinforcing ICE’s position in the global maritime market.

Intercontinental Exchange (NYSE:ICE) is set to launch Murban Crude Oil futures on March 29, 2021, pending regulatory approval. This innovative product will allow for physical delivery two months ahead, starting with the June contract. ADNOC will base its Official Selling Price for Murban Crude on this futures contract from June 2021. The addition of these futures is anticipated to provide significant benefits to the energy market by enabling effective hedging against Murban price risks, enhancing market liquidity, and aligning with global crude pricing mechanisms.

Intercontinental Exchange (NYSE:ICE) announced that its Chief Financial Officer, Scott Hill, will present at the Raymond James 42nd Annual Institutional Investors Conference on March 3 at 11:40 a.m. EST. This presentation aims to discuss the company's recent developments and financial outlook. Investors can access the live presentation and replay through the Investors section on ICE's official website, www.theice.com.

Intercontinental Exchange (NYSE:ICE) announced record Total Futures Open Interest on February 19, 2021, reaching approximately 2.76 million contracts for its Brent crude oil futures, the highest ever, surpassing the previous record from April 2020. Additionally, the Three Month Short Sterling contract set a record with over 19.9 million contracts across Futures and Options. These milestones demonstrate the robust liquidity of ICE's global futures network, enhancing risk management solutions in energy and interest rate markets.

In January 2021, interest rates on closed loans decreased to 2.88%, down from 2.93% in December. Rates fell across all loan types, with 30-year conventional rates at 2.91% and FHA loans dropping to 2.86%. The percentage of refinances surged to 67%, up from 60% the previous month. Average FICO scores rose slightly to 752, while conventional refinance scores increased to 764. The time to close remained steady at 58 days.

Intercontinental Exchange (NYSE: ICE) announced that Citi has executed and cleared the first client Credit Default Swap (CDS) Index Option trades in the U.S. via ICE Clear Credit. This initiative aims to enhance capital efficiency and risk management for market participants. ICE Clear Credit launched CDS Index Options clearing in late 2020 and has since achieved record volumes, clearing over $30 trillion in 2020. The new solution promises innovations like portfolio margining, capital efficiency, and aims to increase adoption and market activity for CDS Index Options.

Intercontinental Exchange (NYSE:ICE) announced plans to launch LNG freight futures contracts based on Spark Commodities’ price assessments. The Spark30S Atlantic and Spark25S Pacific contracts will aid in managing price risk for LNG transportation between key global markets. They will be cash settled and launched on March 22, 2021, pending regulatory approval. These contracts respond to the increasing volatility in LNG freight rates, which peaked at $322,500/day in January 2021, highlighting the demand for robust risk management tools in the market.