Intercontinental Exchange Inc Stock Price, News & Analysis

Intercontinental Exchange (NYSE:ICE) achieved its highest trading volume in history during October 2024, with 209 million contracts traded across futures and options. The month set multiple records, including highest volumes in commodity trading (117 million contracts), energy trading (108 million contracts), and interest rate trading (85 million contracts). Notable achievements include record-breaking volumes in Brent crude oil (38.2 million contracts) and Euribor (50.5 million contracts), surpassing the previous record from March 2020.

Intercontinental Exchange (ICE) reported strong October 2024 trading statistics with significant year-over-year growth across multiple segments. Total average daily volume (ADV) increased 40% with open interest up 20%. The company achieved record performance in Energy trading, with ADV up 21% and notable gains across oil products, including record Brent options volume. Financial markets showed remarkable growth with ADV up 86%, highlighted by record interest rates trading volume up 102%. Notable performances included SONIA ADV increasing 172% and Euribor ADV rising 80%. NYSE operations also showed positive momentum with cash equities ADV up 3% and equity options ADV up 12%.

ICE's Q3 2024 Mortgage Monitor Report reveals record-high mortgage holder equity of $17.2T, with $11.2T being 'tappable'. Homeowners withdrew $48B in Q3, marking a two-year high, yet this represents only 0.42% of available equity - less than half the historical 0.92% extraction rate. HELOC rates, which topped 9.5% recently, are expected to decrease to the low 7% range by end of 2025 following Federal Reserve rate cuts. This could reduce monthly payments on a $50K equity withdrawal from $413 to below $300, potentially spurring increased home equity borrowing despite remaining above historical averages.

Intercontinental Exchange (NYSE: ICE) has declared a quarterly dividend of $0.45 per share for Q4 2024, representing a 7% increase from the $0.42 per share paid in Q4 2023. The dividend will be paid on December 31, 2024, to shareholders of record as of December 16, 2024, which is also the ex-dividend date.

Intercontinental Exchange (NYSE: ICE) reported strong Q3 2024 results with record net revenues of $2.3 billion, up 17% year-over-year. The company achieved GAAP diluted EPS of $1.14 (+19% y/y) and adjusted diluted EPS of $1.55 (+6% y/y). Operating income reached a record $1.1 billion (+31% y/y), with an operating margin of 47%. The quarter saw strong performance across segments, with Exchange net revenues at $1.3 billion, Fixed Income and Data Services at $586 million, and Mortgage Technology at $509 million. Operating cash flow through Q3 2024 was $3.1 billion, with adjusted free cash flow of $2.6 billion.

Intercontinental Exchange (ICE) and the New York Stock Exchange (NYSE) have launched the "My Vote" advertising campaign to promote democratic participation ahead of the U.S. election. The initiative aims to encourage citizens to exercise their voting rights, highlighting democracy's importance to financial markets and economic freedoms.

The campaign will be distributed across social media and broadcast channels, with social media deployment starting immediately and broadcast coverage beginning October 28, 2024.

The New York Stock Exchange (NYSE) has announced plans to extend weekday trading hours on its NYSE Arca equities exchange to 22 hours a day, from 1:30 am to 11:30 pm Eastern Time, subject to regulatory approval. The extended trading will apply to all U.S.-listed stocks, ETFs, and closed-end funds on NYSE Arca, which is currently the leading U.S. exchange for ETF listing and trading. The initiative aims to support global, exchange-based trading of U.S.-listed equity products, with trades to be cleared by the Depository Trust & Clearing The NYSE will file updated rules with the SEC and seek support from U.S. securities information processors for this extension.

ICE's September 2024 mortgage performance data shows significant trends in the U.S. housing market. The national delinquency rate increased to 3.48%, marking the fourth consecutive year-over-year rise. Serious delinquencies reached a 16-month high, while prepayment activity hit its highest level since August 2022. The total number of properties 30+ days past due or in foreclosure reached 2,068,000, an increase of 80,000 month-over-month. Despite rising delinquencies, foreclosure activity remained subdued, with both starts and completions declining. Louisiana and Mississippi led states with the highest non-current loan percentages at 8.31% and 8.20% respectively.

Intercontinental Exchange (NYSE:ICE) reported record-breaking activity in its interest rate derivatives markets for Q3 2024, with over 190 million contracts traded, surpassing Q1 2020's previous record. The average daily volume (ADV) reached 2.9 million contracts, up 39% year-to-date. Notable achievements include 118 million Euribor futures and options traded, breaking the 2013 record, and SONIA futures hitting 14 million contracts with ADV up 59% YTD. The company's €STR futures reached record open interest of over 650,600 contracts on October 22, 2024.