Intercontinental exchange Archives

ICE Data Services Selected as the New Benchmark Provider for Blackrock Ishares U.S. Preferred Stock WTF

December 9, 2018 by industryspread Leave a Comment Filed Under: Regulatory Annoucements Tagged: Blackrock iShares, ETF, ICE Data Indices, ice data services, ICE Exchange, Intercontinental exchange, Stock WTF, The ICE

ATLANTA & NEW YORK–(BUSINESS WIRE)– Intercontinental Exchange, Inc. (NYSE:ICE), a leading operator of global exchanges and clearing houses and provider of data and listings services, today announced that ICE Data Services has been selected as the new benchmark provider for BlackRock’s iShares® U.S. Preferred Stock ETF (PFF), which currently represents $14.7 billion in assets under management¹.

This follows a successful transition in August 2018 of four iShares corporate bond ETFs, which had a combined $19 billion in assets under management, to indices compiled by ICE Data Services. The iShares U.S. Preferred Stock ETF (PFF) provides exposure to U.S. preferred stocks, which have characteristics of both bonds and stocks, and provide income competitive with high yield bonds.

Effective January 31, 2019, the fund will be benchmarked to the ICE Exchange-Listed Preferred & Hybrid Securities Transition Index and following a nine-month transition period it will be benchmarked to the ICE Exchange-Listed Preferred & Hybrid Securities Index. These indexes are part of ICE Data Indices, a comprehensive family of more than 5,000 global fixed income, equity, commodity and currency indexes that leverage ICE Data Services’ pricing, reference data and analytics solutions.

“ICE has invested significant resources to build high-quality data and analytics capabilities, particularly around index design and calculation services,” said Heather Brownlie, Head of U.S. iShares Fixed Income at BlackRock. “We’re pleased to partner with them to position our preferred stock ETF for the future.”

Lynn Martin, ICE Data Services President and COO

“The iShares U.S. Preferred Stock ETF is a premier fund serving the investment community, and we’re thrilled to have been chosen as the index provider,” said Lynn Martin, President and Chief Operating Officer of ICE Data Services. “The selection of our indices showcases our ability to manage exposure across asset classes. This capability uniquely positions us to offer a wide range of customized solutions which support all aspects of the benchmarking and performance measurement process to an increasing customer base.”

ICE Data Services’ multi-asset class index solution provides benchmark and bespoke indices on an integrated platform that drives efficient workflows across asset management, benchmarking and reporting.

1. As of November 27, 2018

ICE Benchmark Administration Launches Survey on the Use of LIBOR

December 8, 2018 by industryspread Leave a Comment Filed Under: Regulatory Annoucements Tagged: business, FCE, Financial Conduct Authority, financial system, Intercontinental exchange, LIBOR, regulations, survey, The ICE

LONDON–(BUSINESS WIRE)– Intercontinental Exchange, Inc. (NYSE:ICE), a leading operator of global exchanges and clearing houses and provider of data and listings services, today announced the launch of a survey by ICE Benchmark Administration (IBA) on the use of LIBOR currencies and tenors.

The survey on the use of LIBOR is open to all users of LIBOR and will close for responses on February 15, 2019.

The purpose of the survey is to identify the LIBOR settings that are most widely used. IBA will use the results of the survey to inform its work in seeking the support of globally active banks for the publication of certain LIBOR settings after year-end 2021. The primary goal of this work would be to provide those LIBOR settings to users with outstanding LIBOR-linked contracts that are impossible or impractical to modify. Any such settings would need to be compliant with relevant regulations and in particular those regarding representativeness.

IBA’s work in seeking the support of banks for the publication of certain LIBOR settings after year-end 2021 is also designed to facilitate the industry’s work towards an orderly adoption of alternative ‘risk-free‘ reference rates (RFRs) into the financial system, as called for by the Financial Conduct Authority (FCA) and the central banks. ICE supports this work and IBA has recently launched the ICE Term RFR Portal and published a paper showing how IBA can support the development of term structures for alternative RFRs. Work on the possible continued publication of certain LIBOR settings is not intended as an alternative to the transition to RFRs for new business.

Regardless of the results of the survey, there is no guarantee that any LIBOR settings will continue to be published after year-end 2021. Users of LIBOR should not rely on the continued publication of any LIBOR settings when developing transition or fall back plans.

IBA encourages all licence holders and other users of LIBOR to complete this survey.

Intercontinental Exchange Reports Strong Growth in FX Monthly Volumes for November 2018

December 6, 2018 by Karthik Subramanian Leave a Comment Filed Under: Industry News Tagged: daily volume, energy contracts, equity indices, FX Monthly, Intercontinental exchange, operational metrics

NYSE parent, Georgia-based Intercontinental Exchange (ICE) has published in November FX operational metrics showcasing a positive set of a number. Across FX and Credit segment, the volumes averaged 30,000 contracts per day which is 15 per cent higher month-on-month from just 26,000 contracts in October 2018. And, compared to November 2017 figures, it is 30 per cent higher from 23,000 contracts in November 2017.

Across segment which also includes interest rates and equity indices reported a gain of 34 per cent year-on-year to reach 2.87 million contracts per day against 2.14 million in November 2017. But compared to October 2018 figures, it is nearly 10 per cent lower.

ICE’s flagship energy contracts also recorded a fresh new high in November as extreme volatility and price fall attracted a large number of retail and speculative investors. In November 2018, the energy volume averaged 3.36 million contracts per day, representing a growth of 12.8 per cent month-on-month from 2.98 million contracts in October 2018. When compared on a yearly basis, the latest figures are 18 per cent higher from 2.85 million contracts per day in November 2017.

During the month, ICE’s reported an average daily volume for futures and options business at 6.62 million which is almost flat with less than a percentage change month-over-month from 6.59 million per day in October 2018. When compared on a yearly basis, the reported figure is 23 per cent higher from 5.38 million contracts per day in November 2017.

The performance of the commodities segment was also upbeat with overall volume amounting to 3.75 million contracts per day in November 2018, up from 9.2 per cent from 4.43 million contracts a month ago and 17.2 per cent higher from 3.32 million contracts reported back in November 2017.

Intercontinental Exchange Chairman and Chief Executive Officer Jeffrey C. Sprecher to Present at the Goldman Sachs U.s. Financial Services Conference on December 5, 2018

December 2, 2018 by industryspread Leave a Comment Filed Under: Regulatory Annoucements Tagged: exchanges and clearing houses, Financial Services Conference, Goldman Sachs, ICE, Intercontinental exchange, investors, Investors section, Jeffrey C. Sprecher

ATLANTA & NEW YORK–(BUSINESS WIRE)– Intercontinental Exchange, Inc. (NYSE:ICE), a leading operator of global exchanges and clearing houses and provider of data and listings services, announced today that Jeffrey C. Sprecher, ICE’s Chairman and Chief Executive Officer, plans to present at the Goldman Sachs U.S. Financial Services Conference. The presentation will take place on Wednesday, December 5 at 2:00 p.m. ET. The presentation will be available live and in replay via webcast and can be accessed in the Investors section of ICE’s website at www.theice.com.

About Intercontinental Exchange

Intercontinental Exchange (NYSE: ICE) is a Fortune 500 and Fortune Future 50 company formed in the year 2000 to modernize markets. ICE serves customers by operating the exchanges, clearing houses and information services they rely upon to invest, trade and manage risk across global financial and commodity markets. A leader in market data, ICE Data Services serves the information and connectivity needs across virtually all asset classes. As the parent company of the New York Stock Exchange, the company raises more capital than any other exchange in the world, driving economic growth and transforming markets.

Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located at http://www.intercontinentalexchange.com/terms-of-use. Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading “Key information Documents (KIDS).”

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 — Statements in this press release regarding ICE’s business that are not historical facts are “forward-looking statements” that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE’s Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE’s Annual Report on Form 10-K for the year ended December 31, 2017, as filed with the SEC on February 7, 2018.

SOURCE: Intercontinental Exchange

Intercontinental Exchange Chief Financial Officer Scott Hill to Present at J.P. Morgan Ultimate Services Investor Conference on November 12, 2018

November 2, 2018 by industryspread Leave a Comment Filed Under: Regulatory Annoucements Tagged: Financial Officer, ICE, ice data services, Intercontinental exchange, Investor Conference, New York Stock Exchange

ATLANTA & NEW YORK–(BUSINESS WIRE)– Intercontinental Exchange, Inc. (NYSE:ICE), a leading operator of global exchanges and clearing houses and provider of data and listings services, announced today that Scott Hill, ICE’s Chief Financial Officer, plans to present at the J.P. Morgan Ultimate Services Investor Conference. The presentation will take place on Monday, November 12 at 2:45 p.m. ET. The presentation will be available live and in replay via webcast and can be accessed in the Investors section of ICE’s website at www.theice.com.

About Intercontinental Exchange

Intercontinental Exchange Announces Board Approval of New $2.0 Billion Repurchase Authorization and Fourth Quarter 2018 Dividend of $0.24 Per Share

November 2, 2018 by industryspread Leave a Comment Filed Under: Regulatory Annoucements Tagged: general economic, ICE, Intercontinental exchange, market conditions, Repurchase Authorization, stock prices

ATLANTA & NEW YORK–(BUSINESS WIRE)– Intercontinental Exchange (NYSE: ICE), a leading operator of global exchanges and clearing houses and provider of data and listings services, announced its Board of Directors has authorized a new share repurchase program and its quarterly dividend of $0.24.

Through September 30, 2018, ICE has repurchased nearly $1.1 billion of its common stock at an average price of $73.54 and it expects to exhaust the remaining $141 million of its current $1.2 billion authorization during the fourth quarter 2018. The new $2.0 billion authorization for share repurchases is effective January 1, 2019 with no end date.

ICE’s fourth quarter 2018 dividend is payable on December 31, 2018 to stockholders of record as of December 14, 2018. The ex-dividend date is December 13, 2018. Upon paying the fourth quarter dividend, ICE will have paid out approximately $556 million in dividends during 2018, a 17% increase versus 2017.

The share repurchase program is intended to be implemented through purchases made from time to time using a variety of methods, which may include open market purchases or purchases through a Rule 10b5-1 trading plan, all in accordance with Securities and Exchange Commission and other applicable legal requirements. The timing, prices and sizes of purchases will depend upon prevailing stock prices, general economic and market conditions and other considerations. The repurchase program does not have an end date and does not obligate ICE to acquire any particular amount of common stock and the repurchase program may be suspended or discontinued at any time at ICE’s discretion.

Intercontinental Exchange Announces Launch of Permian WTI Crude Oil Futures Deliverable in Houston

October 26, 2018 by industryspread Leave a Comment Filed Under: Regulatory Annoucements Tagged: Crude Oil, HOU, Houston, ICE, ICE Brent, Intercontinental exchange, Permian WTI, RBOB, refined oil markets, WTI

ATLANTA & NEW YORK–(BUSINESS WIRE)– Intercontinental Exchange, Inc. (NYSE:ICE), a leading operator of global exchanges and clearing houses and provider of data and listings services, announced the launch today of physically delivered Permian WTI (Contract code: HOU) crude oil futures, deliverable in Houston, Texas. Houston has become the pricing center for U.S. crude oil production and exports, and the new Permian WTI futures contract is designed to serve hedging and trading opportunities in this growing market.

With the growth in shale oil production in the Permian basin in West Texas, which is now estimated at 3.5 million barrels a day, and increased U.S. exports alongside growing international demand for light sweet crude oil, Houston has become the central delivery point for U.S. crude. The ICE Permian WTI futures contract is designed to provide price discovery, settlement and delivery at Magellan Midstream Partners, L.P.’s (NYSE: MMP) terminal in East Houston.

“When we were designing the Permian WTI Futures, customers consistently told us that it was critical to offer a high-quality, well known crude oil spec deliverable in Houston, and available for the waterborne export market,” said Jeff Barbuto, Vice President of Oil Markets at ICE. “By selecting Magellan’s East Houston terminal as the delivery point, we’re offering customers a trusted standard for WTI straight from the Permian Basin, and over time, it’s one that we think could develop into a benchmark for other grades to price around.”

“Magellan’s comprehensive Houston distribution system provides delivery options to all local refineries throughout the ship channel and Texas City and access to export capabilities at our Seabrook Logistics crude oil marine facility,” said Mark Roles, Magellan’s vice president of commercial crude oil. “The new ICE contract provides customers with extensive delivery options, pricing transparency, and liquidity in the Houston Gulf Coast crude oil market while increasing demand for Magellan’s pipeline and storage services.”

Later today, ICE plans to list 36 months of flat price Permian WTI (HOU) contracts and a full matrix of calendar spreads, as well as inter-commodity spreads for HOU/Brent and HOU/WTI.

ICE is home to the world’s leading global crude and refined oil markets. Half of the world’s oil and refined futures are traded on ICE’s markets, including futures and options on the global benchmark ICE Brent, the U.S. benchmark West Texas Intermediate (WTI) crude, the Asian benchmark Platts Dubai crude, Gasoil, Heating Oil and RBOB Gasoline, as well as more than 500 additional grades and oil products.

Intercontinental Exchange Completes Acquisition of MERS

October 9, 2018 by industryspread Leave a Comment Filed Under: Regulatory Annoucements Tagged: Bill Beckmann, business, electronic, institutional investors, Intercontinental exchange, MERS, The ICE

ATLANTA & NEW YORK–(BUSINESS WIRE)– Intercontinental Exchange, Inc. (NYSE:ICE), a leading operator of global exchanges and clearing houses and provider of data and listings services, announced it has acquired the remaining equity of MERSCORP Holding, Inc., owner of Mortgage Electronic Registrations Systems, Inc. (MERS). ICE has owned a majority equity interest in MERS since 2016. Price and terms of the transaction were not disclosed and will not be material to ICE’s earnings or have an impact on capital return plans.

MERSCORP owns and operates the MERS System, a national electronic registry that tracks the changes in servicing rights and beneficial ownership interests in U.S.-based mortgage loans. Earlier this month, ICE successfully moved the MERS System infrastructure to the ICE Mahwah data center, an integral requirement for completing the final acquisition of the business.

“As the U.S. mortgage finance industry transitions from a paper-based process to more digital

Jeffrey C. Sprecher, Chairman and Chief Executive Officer of ICE

mortgages and electronic notes, MERS is uniquely positioned to provide a seamless process that will bring greater efficiencies to consumers, lenders and institutional investors,” said ICE Chairman and CEO Jeffrey C. Sprecher.

“ICE has a well-established track record of transitioning traditional analog businesses to digital marketplaces, and MERS represents another important chapter in that record. We’re excited to work with MERS as it embarks on their next stage of development.”

“ICE’s global infrastructure and experience in making markets more transparent and efficient will enhance the access, scalability and effectiveness of Mortgage Electronic Registrations Systems, Inc. for its more than 5,000 member institutions,” said Bill Beckmann, MERSCORP Holdings CEO. “This is a natural evolution for our business and will provide benefits for participants throughout the industry.”

For additional information on Mortgage Electronic Registrations Systems, Inc., please visit www.mersinc.org. For additional information on ICE, please visit www.theice.com.

Intercontinental Exchange Reports September and Third Quarter 2018 Statistics

October 6, 2018 by industryspread Leave a Comment Filed Under: Regulatory Annoucements Tagged: ICE, Intercontinental exchange, investment, investor, investor relations, trading volume

ATLANTA & NEW YORK–(BUSINESS WIRE)– Intercontinental Exchange, Inc. (NYSE:ICE), a leading operator of global exchanges and clearing houses and provider of data and listings services, today reported September and Third Quarter 2018 trading volume and related revenue statistics, which can be viewed on the company’s investor relations website at http://ir.theice.com/ir-resources/supplemental-information in the Monthly Statistics Tracking spreadsheet.

“As supply-demand dynamics across global commodities continue to shift and geopolitical uncertainties remain, our customers come to ICE to manage their risk. This is driving rising open interest levels across our energy, agriculture and financial markets,” said Ben Jackson, President, Intercontinental Exchange.

September & 3Q18 highlights include:

September natural gas average daily volume (ADV) up 16% y/y
3Q18 Brent open interest (OI) up 8% y/y
Record 3Q18 emissions ADV up 65% y/y; September ADV up 68% y/y; OI up 27% y/y
3Q18 interest rates OI up 9% y/y
3Q18 Gilt ADV up 25% y/y; September ADV up 15% y/y; OI up 12% y/y
3Q18 equity indices ADV up 6% y/y, excluding Russell
3Q18 ags & metals ADV up 16% y/y; September ADV up 19% y/y; OI up 17% y/y
3Q18 NYSE cash equities ADV up 7% y/y; September ADV up 16% y/y
3Q18 equity options ADV up 31% y/y; September ADV up 33% y/y
3Q18 CDS gross notional cleared up 8% y/y

ICE will report third quarter 2018 earnings on Wednesday, October 31, 2018.

The ICE Appoints Andrew Surdykowski as General Counsel, Elizabeth King as Chief Regulatory Officer, and Octavia Spencer as Corporate Secretary

September 29, 2018 by industryspread Leave a Comment Filed Under: Regulatory Annoucements Tagged: Andrew Surdykowski, Chief Regulatory Officer, Corporate Secretary, General Counsel, ICE, Intercontinental exchange, legal team, Octavia Spencer

Surdykowski will succeed Johnathan Short, who is retiring following 14 years in that role

King, currently General Counsel of the NYSE, adds duties as Chief Regulatory Officer for Intercontinental Exchange

ATLANTA & NEW YORK–(BUSINESS WIRE)– Intercontinental Exchange, Inc. (NYSE:ICE), a leading operator of global exchanges and clearing houses and provider of data and listings services, announced today that Andrew Surdykowski has been named the company’s next General Counsel, succeeding Johnathan Short, who intends to retire after 14 years in that role. Surdykowski, currently the company’s Senior Vice President and Associate General Counsel, joined ICE’s legal team in 2005, overseeing a range of matters for Intercontinental Exchange.

“Andrew Surdykowski has been an integral player in ICE’s evolution since our early days, a member of our global legal team led by my long-time colleague Johnathan Short who has provided expert guidance and steady leadership during every phase of our growth,” said Jeffrey C. Sprecher, Chairman and CEO of Intercontinental Exchange. “I’m grateful to Johnathan for his tremendous service over the years, and have the utmost confidence that Andrew will carry on that work with his talent, legal acumen, and dedicated partnership that we rely on as we continue to transform global markets.”

Prior to ICE, Surdykowski was an attorney with McKenna, Long & Aldridge (now Dentons), practicing in the corporate law group, representing clients on matters regarding securities, mergers and acquisitions, corporate governance, finance, and private equity. Surdykowski holds a J.D. from the Georgia State University College of Law and a B.S. in Management from the Georgia Institute of Technology.

In addition to Surdykowski’s appointment, Elizabeth King, General Counsel of the New York Stock Exchange, will add to her role that of ICE’s Chief Regulatory Officer, overseeing the company’s global regulatory and legal affairs initiatives. King joined the NYSE in 2014 from KCG Holdings, Inc., where she served as Deputy General Counsel and Global Head of Regulatory Affairs. Earlier in her career, she served as Associate Director, Division of Trading and Markets at the U.S. Securities and Exchange Commission. King holds a J.D. from the University of Pennsylvania, and an A.B. from Duke University.

“The regulatory issues that exchanges and clearinghouses must manage today are both global and complex, and very much at the center of our business,” said Sprecher. “Elizabeth King has been an outstanding counselor to our NYSE team and will now expand her purview companywide to guide our regulatory work across North America, Europe, and Asia.”

ICE also announced today that Octavia Spencer, a member of ICE’s legal team since 2014, has been appointed as ICE’s Corporate Secretary. Like Surdykowski, Spencer also worked as an attorney at McKenna, Long & Aldridge earlier in her career, focusing on public company compliance and corporate governance matters, public offerings and private placements, and M&A work. She received her J.D. from the Duke University School of Law and her B.A. from the University of North Carolina at Chapel Hill.

The new roles for Surdykowski, King, and Spencer will take effect during a transition period leading to Short’s retirement in early 2019.