Intercontinental Exchange Inc Stock Price, News & Analysis

Intercontinental Exchange (NYSE: ICE) has announced plans to launch ICE Futures Abu Dhabi (IFAD) and the world’s first futures contracts for Murban crude oil, pending regulatory approvals. The launch is expected by late Q1 2021. IFAD aims to enhance trading opportunities with a range of cash-settled derivatives and physically delivered contracts at Fujairah, UAE. The contracts will be cleared at ICE Clear Europe, promoting capital efficiencies alongside major global oil benchmarks.

Intercontinental Exchange (NYSE: ICE) reported significant increases in trading volume for September and Q3 2020. Highlights include a 10% year-over-year rise in energy open interest and remarkable growth in specific commodity averages, such as heating oil, with an average daily volume surge of 184% y/y. European natural gas open interest also saw a 37% y/y growth. The company continues to focus on delivering actionable information and enabling efficient trading for its customers amidst a challenging market environment.

Intercontinental Exchange (NYSE: ICE) has launched a beta version of its GBP ICE Swap Rate® for SONIA swaps. This new offering includes daily indicative settings ranging from one to 30 years and follows positive market feedback on previous consultations by ICE Benchmark Administration (IBA). The beta settings are intended for evaluation and feedback purposes only, and IBA will determine when these can be used as benchmarks in financial instruments. The initiative supports the transition to alternative rates in the financial market.

Intercontinental Exchange (NYSE: ICE) announced that ICE Clear Europe has been recognized by the European Securities and Markets Authority (ESMA) as a third country central counterparty under the European Markets Infrastructure Regulation (EMIR). This recognition will be effective once the transition arrangement between the UK and EU concludes. Currently, ICE Clear Europe clears around four million contracts daily across various asset classes, playing a crucial role in limiting counterparty credit risk.

Refinances rose to 56% of closed loans in August, up from 54% in July, according to the Origination Insight Report from Ellie Mae, now part of Intercontinental Exchange (ICE). The average 30-year loan rate dropped to a record low of 3.09%, contributing to increased refinancing activity. However, purchase loans fell to 44%, down from 46%. The time to close loans increased to 49 days, and FICO scores reached 752. With low rates and a slight rebound in refinances, the market remains attractive for new buyers.

On Sept. 14, 2020, Ellie Mae announced a study by MarketWise Advisors highlighting the financial benefits of its Encompass Investor Connect system. The study found an average saving of $48.85 per loan, primarily due to operational efficiencies. Lenders reported a reduction of 39 minutes in processing time per loan and improved sales metrics. The system integrates with 13 of the top 20 investors, constituting over 70% of the U.S. aggregator market. This innovation aims to enhance efficiency and quality in the mortgage industry during a period of high loan volumes.

Ellie Mae, a leading cloud-based platform for the mortgage finance industry and part of Intercontinental Exchange (ICE), is now accepting nominations for the 2021 Ellie Mae Innovation Award. This award honors mortgage lenders and partners who have effectively utilized Ellie Mae solutions in innovative ways. Nominations are open until October 31, 2020, and winners will be recognized during the Ellie Mae Experience online event from March 8-26, 2021. The awards highlight the use of technology and data analytics to enhance the mortgage process, particularly during the recent refinancing boom.

Ellie Mae, now part of Intercontinental Exchange (NYSE: ICE), announced its annual technology conference, Ellie Mae Experience 2021, to be held online from March 8-26, 2021. The event aims to unite industry leaders to discuss digital mortgage strategies and innovations. Previous year's Experience 2020 saw over 6,000 registrations, demonstrating the event's significance. The conference will include keynotes, breakout sessions, and the Ellie Mae Innovation Award ceremony. Registration opens in October 2020.