Intercontinental Exchange Inc Stock Price, News & Analysis

Intercontinental Exchange (NYSE:ICE) reported record trading activity in Q3 2024, with 517 million contracts traded across total futures and options markets. This includes a record 276 million energy futures and options. Notable achievements include:

- Record 173.3 million oil futures and options traded
- ICE Brent reached record 93.4 million futures and options traded
- Brent options hit record open interest of 3.77 million on October 11, 2024
- ICE Gasoil saw record trading in options with 344,000 contracts traded in Q3
- Gasoil futures and options hit record open interest of 1.3 million contracts on October 3, 2024

Other benchmarks also achieved record highs, including WTI, Midland WTI, and Murban futures. ICE's natural gas and environmental markets also saw significant growth, with EU Carbon Allowance futures and options volumes up over 40% year-over-year.

Intercontinental Exchange (NYSE:ICE) has launched a multi-asset class climate transition risk solution that provides emissions estimates and portfolio analytics across various fixed income asset classes. The solution covers Scope 1, 2, and 3 emissions for municipal bonds, mortgage-backed securities (MBS), and real estate, addressing gaps in emissions data for underserved sub-asset classes.

This integrated offering enables clients to assess and benchmark their financed emissions across a comprehensive range of fixed income asset classes. The solution provides PCAF-aligned financed emissions data for over 110 million US properties and more than 4.2 million fixed income securities globally. It offers advanced portfolio analytics to evaluate total emissions across multi-asset class portfolios, supporting climate risk reporting and stress testing.

ICE's October 2024 Mortgage Monitor Report reveals record-high average monthly mortgage payments, reaching $2,070 in August. This represents a 7.2% increase from last year and a 19.3% rise since early 2020. The report highlights significant disparities between pre-2022 and post-2022 mortgages, with newer loans allocating a larger portion to interest payments.

Property insurance costs have surged dramatically, increasing by 52% since 2020, outpacing other payment components. In high-risk areas like New Orleans and Miami, insurance can account for up to 25% of monthly mortgage payments. The report also notes regional variations in insurance costs, with some areas paying over three times the national average per $1,000 of coverage.

Intercontinental Exchange (NYSE:ICE) reported record trading volumes for September and Q3 2024. Highlights include:

- Total average daily volume (ADV) up 29% y/y; open interest (OI) up 16% y/y
- Record Energy ADV up 24% y/y; OI up 21% y/y
- Record Interest Rates ADV up 50% y/y; OI up 18% y/y
- Brent futures and options saw record quantities, affirming its role as the global oil benchmark
- Notable increases in WTI, Gasoil, Natural Gas, and Environmental markets

Q3 2024 highlights:
- Total ADV up 28% y/y
- Energy ADV up 23% y/y, including record futures of 3.7M lots
- Record ADV for Brent, WTI, Midland WTI, and Murban crude oil contracts
- Significant growth in Natural Gas, Environmentals, and Financial markets

The New York Stock Exchange (NYSE), part of Intercontinental Exchange, Inc. (NYSE: ICE), has launched NYSE TV Live, a weekday morning program broadcast live from the iconic NYSE trading floor. The show, airing from 9-10 am ET, covers news impacting global markets and the economy. Anchored by renowned broadcast journalist Kristen Scholer, alongside NYSE TV anchor Trinity Chavez, the program provides an in-depth look at daily news and events inside the historic NYSE building.

NYSE TV Live features interviews with leading market and industry experts, as well as business and political leaders visiting the exchange. The show is available on multiple streaming platforms, including Cheddar, NYSE TV's website and app, YouTube, Apple TV, Roku, fireTV, and Apple and Android mobile devices. Replays are accessible 24/7 on the NYSE TV app.

ICE reports the following first look at August 2024 month-end mortgage performance statistics:

The national delinquency rate fell 3 basis points to 3.34% in August, down 0.9% for the month but up 5.1% from last year. Serious delinquencies rose 14K (+3.3%) to a six-month high, but remain historically low. Foreclosure starts fell by 9% from the month prior and remain 32% below 2019 levels. The share of mortgages in foreclosure hit the second-lowest level on record outside of the COVID-19 moratorium.

Prepayment activity rose to 0.62% – a level not seen in two years – on easing rates, rising by 4.7% from July and 18.0% from last year. The top 5 states by non-current percentage are Mississippi (7.93%), Louisiana (7.87%), Alabama (5.61%), Indiana (5.30%), and West Virginia (5.14%).

Intercontinental Exchange (NYSE: ICE) announced that ICE Clear Credit processed a record of more than $1.1 trillion USD equivalent notional amount of credit default swap (CDS) instruments on September 20, marking the highest amount cleared in a single day by any CDS clearinghouse. This included a record $900 billion from client-related CDS transactions.

ICE Clear Credit, founded in 2009, has become the leading global clearing house for credit derivatives, offering clearing for over 650 Single Name and Index CDS instruments. It has cleared more than $350 trillion in two-sided notional amount, with current open interest exceeding $1.8 trillion. The company recently announced plans to launch a clearing service for U.S. Treasury securities and repurchasing agreements, which will operate as a separate entity from the CDS clearing service.

Intercontinental Exchange (NYSE: ICE) has announced enhancements to its Credit Bureau Management solution, further automating the credit dispute process for servicers. The improved system, integrated with the MSP® loan servicing system, now allows for automatic submission of completed dispute forms to third-party credit bureau reporting agencies, eliminating manual re-entry of data.

These enhancements aim to help servicers meet their 30-day reporting obligations under the Fair Credit Reporting Act more efficiently. The solution compiles borrower information, pre-fills dispute forms, and manages the investigation process, potentially reducing errors and saving critical time for servicers.

Tim Bowler, President of ICE Mortgage Technology, emphasized the importance of these improvements in providing value to servicers and supporting fair and accurate credit histories for individuals.

Intercontinental Exchange (NYSE:ICE) has launched a new suite of climate risk municipal indices that track the performance of securities based on exposure to acute climate risks. The indices use the ICE Climate Risk Score, which provides a comprehensive measure of estimated property risk from physical climate hazards.

The new index family includes five indices focusing on high and low physical climate risk, as well as specific risks like wildfires, floods, and hurricanes. These indices aim to help investors capture exposure to climate-related trends in the municipal bond market.

ICE research indicates that physical climate risk is not yet being priced into municipal bonds, potentially obscuring true risk. These new indices are designed to provide investors with a consistent measure of the climate-yield relationship and a benchmark for managing portfolio risk.