Intercontinental Exchange Inc Stock Price, News & Analysis

In October 2020, interest rates for loans dropped to a record low of 2.99%, marking the first occurrence of rates falling below 3% since tracking began in 2011, according to the Origination Insight Report by Ellie Mae, now part of ICE Mortgage Technology. The report highlights that refinances surged to 60% of total closed loans, while purchase loans fell to 40%. Average closing times increased to 54 days, with a steady FICO score average of 753. Conventional loans represented 82% of all closed loans, showcasing the mortgage market's current dynamics.

Intercontinental Exchange (NYSE:ICE) announces that ICE Benchmark Administration Limited (IBA) will consult on ceasing publication of GBP, EUR, CHF, and JPY LIBOR settings. This decision follows the FCA's July 2017 directive regarding the discontinuation of LIBOR submissions post-December 31, 2021. Although discussions continue regarding USD LIBOR's future, IBA's latest communication indicates no certainty about its continuation. IBA will provide further updates after consultations conclude.

Intercontinental Exchange (ICE), a prominent global exchange operator, has released its fifth annual Corporate Responsibility Report. The report emphasizes ICE's commitment to environmental, social, and governance (ESG) issues, highlighting its corporate governance, diversity initiatives, and sustainable finance efforts. Key updates include the addition of a fourth female director, a $10 million donation to community COVID-19 relief, and initiatives to enhance financial education and transparency in diversity metrics. For more details, visit ICE's corporate responsibility page.

Intercontinental Exchange (NYSE: ICE) announced that Bank of America is the first authorized participant to use the ICE ETF Hub's FIX API for ETF share creations and redemptions. This milestone enhances the ETF industry's adoption of ICE ETF Hub, which streamlines the creation and redemption process via an open architecture technology solution. The FIX API allows for automated workflows, improving efficiency and convenience for market participants. The ICE ETF Hub currently supports U.S.-listed domestic equity and fixed income ETFs.

Ellie Mae, now ICE Mortgage Technology, has launched the Encompass® 20.2 Major Release, introducing enhancements designed to boost lender productivity. Key features include an enhanced condition management system for flexible workflows, improved document management that increases upload speeds by up to 5x, and an updated document viewer for efficient management. These innovations aim to support lenders during peak times and remote work conditions, ultimately aiming to drive operational efficiency and reduce loan origination costs.

Intercontinental Exchange (NYSE: ICE) reported record open interest in its environmental complex, reaching 2.65 million contracts on November 12, 2020. This growth, driven by a 40% increase in participants since 2017, highlights the vital role of market-based mechanisms in pricing climate risk. Companies use ICE's markets for compliance with carbon cap and trade programs, while investors leverage price signals for risk assessment. ICE remains a leader in environmental markets and offers various sustainability indices to manage ESG-related risks.

Intercontinental Exchange (ICE) has signed MOUs with Occidental Energy Marketing, Chevron, and Trafigura to explore pricing US crude exports to Asia based on the ICE Murban Futures contract. This contract, set for launch on March 29, 2021, aims to enhance oil market transparency. Fred Forthuber of Occidental noted the importance of establishing a new price benchmark for light sweet crude oil. The futures contract is physically delivered in Fujairah, UAE, and will be complemented by cash settled derivatives, offering capital efficiencies for traders.

Intercontinental Exchange (NYSE: ICE) has launched clearing for Credit Default Swap (CDS) Index Options, enhancing capital efficiencies and risk management in the CDS market. Effective immediately, ICE Clear Credit now offers clearing for Index Options on CDX North American Investment Grade and High Yield indices, with plans to add iTraxx Europe indices in 2021. This innovative solution aims to improve price discovery and market transparency while leveraging ICE’s infrastructure. Through Q3 2020, ICE Clear Credit cleared nearly $25 trillion in CDS instruments, marking an 11% growth from 2019.

Intercontinental Exchange (NYSE: ICE) announced plans to launch ICE Futures Abu Dhabi (IFAD) and the world's first futures contracts based on Murban crude oil, set for March 29, 2021, pending regulatory approvals. Partnering with ADNOC and major energy traders, IFAD will offer physically delivered contracts with delivery at Fujairah, UAE. These futures will be complemented by cash settled derivatives, enhancing trading strategies. Contracts will be cleared at ICE Clear Europe, enabling capital efficiency for customers.