Intercontinental Exchange Inc Stock Price, News & Analysis

Intercontinental Exchange (NYSE: ICE) has announced a consultation regarding the cessation of the GBP LIBOR ICE Swap Rate settings. Following the FCA's 2021 announcement on LIBOR's future, IBA suggests it will not have the necessary data for GBP LIBOR settings after December 31, 2021. The consultation, open until June 4, 2021, will determine the future of these settings, which are currently based on SONIA. IBA also hints at a future consultation regarding the USD LIBOR ICE Swap Rate.

ICE Mortgage Technology reported a surge in millennial home purchase activity in March 2021, with purchases constituting 51% of all loans closed, up from 46% in February. Despite a rise in interest rates, which averaged 2.98%, millennials continued to engage in the housing market. The average time to close loans dropped to 48 days, a decrease from previous months. However, the average FICO score for millennial borrowers fell to 739, indicating potential challenges in creditworthiness. The tightening inventory in the housing market may lead to increased competition among millennials as the summer buying season approaches.

Intercontinental Exchange (NYSE: ICE) reported strong trading metrics for April 2021. Key highlights include a 7% year-over-year increase in total open interest, a significant rise in Oil open interest by 11% compared to 4Q20, and a remarkable 68% year-over-year increase in U.S. Equity Options average daily volume. Other substantial gains were noted in TTF gas with a 24% y/y increase and Total Interest Rate open interest up 33% y/y. These statistics are indicative of a robust performance in various asset classes, enhancing operational efficiencies across trading platforms.

Intercontinental Exchange (NYSE:ICE) announced updated guidance on eligibility criteria for participating in the upcoming UK emissions auctions scheduled for May 19. The UK Government’s BEIS published these updates as part of launching the UK Emissions Trading Scheme. Auction participants must register with ICE. Additionally, ICE will introduce UK Allowance (UKA) Futures contracts on the same day as the auction and UKA Daily Futures shortly after, pending regulatory approval. ICE emphasizes the importance of the UK ETS in supporting the UK's climate goals.

Intercontinental Exchange (NYSE: ICE) has declared a $0.33 per share dividend for Q2 2021, representing a 10% increase from the $0.30 dividend in Q2 2020. This cash dividend is payable on June 30, 2021 to stockholders of record as of June 16, 2021. The ex-dividend date is set for June 15, 2021, demonstrating ICE's commitment to returning value to its shareholders.

Intercontinental Exchange (ICE) reported record net revenues of $1.8 billion for 1Q21, a 15% increase year-over-year, alongside a GAAP diluted EPS of $1.14 and adjusted EPS of $1.34, up 7%. Operating income reached a record $892 million with a margin of 50%. The firm plans to record a pre-tax gain of $1.23 billion from divesting its stake in Coinbase in Q2 2021. ICE launched ICE Futures Abu Dhabi on March 29, 2021, and remains optimistic about growth opportunities post-COVID.

ICE Mortgage Technology reported a notable decrease in the average time to close loans during the first quarter of 2021, reducing from 58 days in January to 52 days in March. Closing rates improved for all loans, increasing from 76.4% in February to 77.9% in March, while the percentage of refinances dropped from 68% to 63%. The report highlights a shift in consumer behavior towards homeownership and refinancing, indicating a competitive market for new buyers. The data was derived from a robust sampling of mortgage applications through the Encompass platform.

Intercontinental Exchange (NYSE: ICE) has launched an ultra-low latency wireless market data offering in London and Frankfurt via its Global Network. This service enhances connectivity, speed, and reliability for market participants, granting access to over 150 venues and 750 market feeds. It aims to meet growing demands for quick decision-making by providing competitive latency and pricing. The wireless service will support both cash and derivatives trading, with plans to go live in the second half of 2021.