Yahoo Finance Intercontinental Exchanges (ICE) March Volume Improves Y/Y
Intercontinental Exchange, Inc.’s ICE average daily volume (ADV) in March increased 56% to 9.4 million largely backed by improved Financial ADV, Commodities ADV and Energy ADV. The company reported 38.5% year-over-year increase in Financials volume that rose to 4.4 million contracts per day. There were 22 trading days in March.
Agriculture and Metals ADV of 0.6 million contracts increased 38.6%. Energy volume too increased about 82.2% to 4.4 million contracts per day. Thus, Commodities ADV increased nearly 75.9% to 4.9 million in March.
Interest rate volume increased 32.3% to 3.4 million contracts per day whereas Equity Index volume increased 63.1% to 1 million contracts. Foreign exchange volume was up 55.9% to nearly 0.05 million contracts.
Q1 Volumes
Intercontinental Exchange’s first-quarter futures & options ADV increased 42% year over year to 8 million.
Energy ADV surged 54% year over year to 3.9 million and agriculture & metals ADV increased 31% year over year to 0.6 million.
Interest rate ADV was up 28% year over year to 2.9 million. Equity indices ADV rose 47% year over year.
Shares of Intercontinental Exchange have underperformed the industry in a year’s time. The stock has gained 5.2%, underperforming the industry’s increase of 7%. Nevertheless, the company’s product portfolio, along with a broad range of risk management services, strategic buyouts and a robust capital position will likely help the stock retain its growth momentum.
Intercontinental Exchange currently carries Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Recently, securities exchanges, namely CME Group Inc. CME and MarketAxess Holdings Ltd. MKTX and Cboe Global Markets, Inc. CBOE also posted their respective monthly volumes.
CME Group’s ADV increased 68% year over year in March as volumes increased across all the six product lines. MarketAxess reported trading volume of $916.6 billion for March. It consists of $269.5 billion in credit volume and $647.1 billion in rates volume. Cboe Global reported strong ADV for March 2019. Total ADV of 12 million contracts declined 68% year over year due to strong performance across the business lines — Options, Futures, U.S. Equities and European Equities.
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