Intercontinental exchange Archives

Intercontinental Exchange Completes Acquisition of Simplifile LC

June 16, 2019 by industryspread Leave a Comment Filed Under: Regulatory Annoucements Tagged: capital return plans, clearing houses, exchanges, ICE, ICE Mortgage, Intercontinental exchange, KIDS, LC, mortgages, risks

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 it has completed its acquisition of Simplifile, LC. On May 1, 2019 ICE announced that it would acquire Simplifile for $335 million. The acquisition will not be material to ICE’s 2019 earnings or have an impact on capital return plans.

“The U.S. residential mortgage market is evolving from paper-based transactions to digital solutions,” said Chris McEntee, President of ICE Mortgage Services. “Simplifile’s connectivity to nearly 2,000 public recording entities, representing over 80 percent of the U.S. population, is a key part of the infrastructure needed to further drive digital transformation in the mortgage market. The Simplifile team brings tremendous industry expertise to ICE and we will work together to help those involved in the mortgage value chain – including borrowers, originators, investors and servicers – benefit from more transparency and efficiency in what’s been a very analog system,” McEntee added.

Simplifile was founded in 2000 and operates the largest network connecting the agents and jurisdictions that underpin residential mortgage records. The company serves as an electronic liaison between lenders, settlement agents and county recording offices, streamlining the public recording of residential mortgage transactions. Simplifile will become part of ICE Mortgage Services, whose mission is to make mortgage production easier and more transparent for all industry stakeholders.

“ICE’s track record of bringing innovation and efficiency to markets will be a valuable asset as we continue to work with recorders, title and settlement agents, and lenders to build a slate of products that make it simpler to record mortgage documents,” said Paul Clifford, Founder and President of Simplifile.

Christopher McEntee, President of ICE Mortgage Services

Simplifile has built a network in 1,941 counties in the United States. Its eRecording product allows customers to electronically record deeds, mortgages, liens, releases and other documents online, over the nation’s largest network.

About Intercontinental Exchange

Intercontinental Exchange (NYSE: ICE) is a Fortune 500 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 is the premier venue for raising capital 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, 2018, as filed with the SEC on February 7, 2019.

Intercontinental Exchange Announces Record Open Interest in Global Energy Futures

June 4, 2019 by industryspread Leave a Comment Filed Under: Regulatory Annoucements Tagged: Contracts, Global Energy Futures, ICE, Intercontinental exchange, open interest, SEC

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 record open interest of over 29 million contracts in its global energy futures complex, on May 23, 2019. The record level of open interest held by market participants is being driven by ICE’s global oil and European natural gas futures business.

“As global energy markets continue to advance and evolve, open interest across our global energy futures complex is building,” said Ben Jackson, President of Intercontinental Exchange. “The diversity of our energy platform, which offers a suite of products spanning global oil, natural gas, power and environmental markets, is increasingly critical to the risk management and price of discovery needs of our customer base.”

Open interest records include:

Total energy futures of 29.1 million contracts
Total oil futures including refined products of 8.5 million contracts
European natural gas futures of 1.7 million contracts

As the world’s leading energy marketplace, ICE offers benchmark futures and options contracts across global markets, including oil (Brent, WTI and Platts Dubai), natural gas (Henry Hub, Dutch TTF, NBP and JKM LNG), power and emissions.

About Intercontinental Exchange

Intercontinental Exchange Announces Agreement to Acquire Simplifile LC

May 6, 2019 by industryspread Leave a Comment Filed Under: Regulatory Annoucements Tagged: Acquire Simplifile LC, clearing houses, electronic mortgage, exchanges, ICE, ICE Mortgage Services, industry, Information Services, Intercontinental exchange

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, today announced that it has entered into a definitive agreement to acquire Simplifile LC. Simplifile operates one of the largest networks connecting the agents and jurisdictions that underpin residential mortgage records, serving as an electronic liaison between lenders, settlement agents, and county recording offices, streamlining the local recording of residential mortgage transactions.

As a pioneer in helping its customers submit electronic documents into the public record, the acquisition of Simplifile expands the ICE Mortgage Services portfolio, which includes MERS. Simplifile and MERS support the residential lending industry’s shift to digitization and will, together, help to make the mortgage closing process simpler, faster, and more transparent for a range of industry stakeholders.

ICE will pay $335 million to acquire Simplifile, which is based in Provo, Utah and has no debt. The transaction is expected to close in the third quarter of this year, subject to the expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended. ICE does not expect the transaction to have any impact on its previously announced capital return plans. Upon closing, Simplifile, which has approximately 200 employees, will continue to be based in Provo and operate under the Simplifile name.

Christopher McEntee, President of ICE Mortgage Services
“Originators, consumers, and investors can obtain significant benefits and savings as the real estate process shifts from paper-based to digital transactions. Simplifile understood this trend early, uniquely solving for the critical aspect of submitting required documents into the public record in a seamless, auditable and transparent method,” said Chris McEntee, President of ICE Mortgage Services. “By connecting lenders, settlement agents, and counties through a robust network, Simplifile will enhance ICE’s efforts to further streamline a legacy process ripe for innovation,” McEntee added.

Simplifile was founded in 2000 with the goal of digitizing the closing process of the real estate industry. Starting with Utah County, it began the process of onboarding, one by one, all 3,594 mortgage recording jurisdictions in the U.S. Simplifile today connects 1,922 counties in the United States, representing over 80 percent of the U.S. population. Leveraging its core eRecording product, Simplifile continues to introduce additional electronic solutions to serve the entire real estate transaction supply chain. The company has delivered a consistent history of revenue growth and has been profitable every year since its founding.

“We’ve seen how ICE has helped to transform markets going through an analog to digital conversion and has made them more transparent and efficient for all participants,” said Paul Clifford, Founder and President of Simplifile. “We are closely aligned with ICE’s vision as it applies to the residential mortgage industry and, as we become part of Intercontinental Exchange, our team at Simplifile will continue our efforts to simplify the industry for all of its stakeholders,” Clifford added.

As an indication of the increased pace of transformation of the mortgage industry, ICE and MERS announced earlier in April that the number of eNotes added to the MERS^® eRegistry during the first quarter of 2019 exceeded the total number of eNotes registered for all of 2018. An electronic note, or eNote, is the functional equivalent of a paper promissory note when created in conformity with eCommerce law requirements, and upon origination, is registered on the MERS^® eRegistry. Digital solutions such as the eNote are gaining traction and represent an important step towards a fully electronic mortgage.

About Simplifile, LC

Simplifile, the nation’s largest e-recording network, was founded in 2000 to connect settlement agents and county recorders via its e-recording service. Today Simplifile has broadened its services to include collaboration tools and post-closing visibility for mortgage lenders and settlement agents working together on real estate documents. Through Simplifile, users can securely record, share and track documents, data and fees with ease. To learn more, visit https://simplifile.com/

About MERSCORP Holdings, Inc.

MERSCORP Holdings, Inc. is a subsidiary of Intercontinental Exchange (NYSE: ICE) and operates the MERS® System, MERS® eRegistry and all other MERS® products and services. The MERS® System is a national electronic database that tracks changes in mortgage servicing and beneficial ownership interests in residential mortgage loans on behalf of its members. The MERS® eRegistry is the system of record for identifying the Controller (holder) and Location (custodian) for the authoritative copy of an eNote. Learn more about the MERS® System or MERS® eRegistry at www.mersinc.org.

About Intercontinental Exchange

Intercontinental Exchange (NYSE: ICE) is a Fortune 500 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.

Intercontinental Exchange Launches Eight New Regional MSCI Futures Contracts

April 17, 2019 by industryspread Leave a Comment Filed Under: Regulatory Annoucements Tagged: capital, clearing houses, exchanges, ICE, ICE block design, ice data services, Intercontinental exchange, MSCI Futures Contracts, NYSE

ATLANTA & NEW YORK–(BUSINESS WIRE)– Intercontinental Exchange, Inc. (NYSE:ICE), a leading operator of global exchanges and clearing houses, announced the launch of eight new regional MSCI futures contracts. The new contracts, which started trading yesterday, are listed on ICE Futures U.S. and five expiry months have been listed for each contract: June 2019, September 2019, December 2019, March 2020 and June 2020.

“ICE Futures U.S. has been instrumental in the development of the MSCI derivatives ecosystem. The addition of these products provides our customers with greater flexibility to manage risk in a capital efficient manner, in the deepest pool of MSCI derivatives liquidity,” said Chris Rhodes, Global Head of Financial Derivatives at ICE Futures.
“We are excited to work with ICE as they expand their existing suite with these new index futures,” said George Harrington, Global Head of Futures and Options Licensing at MSCI. “This continued expansion underscores the quality, widespread use and adoption of the MSCI ACWI and MSCI World Indexes.”

The new MSCI futures contracts are listed below:

MSCI World NTR USD Index
MSCI North America NTR USD Index
MSCI Europe NTR USD Index
MSCI Pacific NTR USD Index
MSCI USA GTR USD Index
MSCI Canada GTR USD Index
MSCI AC Asia ex-Japan NTR USD Index
MSCI Pacific ex-Japan NTR USD Index

ICE offers a comprehensive set of futures and options on a range of MSCI and FTSE indices, as well as a range of single stock futures and options, which enable customers to hedge against exposure to market volatility.

About Intercontinental Exchange

ICE Benchmark Administration Successfully Completes the Transition of LIBOR Panel Banks to the Waterfall Methodology

April 5, 2019 by industryspread Leave a Comment Filed Under: Regulatory Annoucements Tagged: ICE Benchmark Administration, Intercontinental exchange, LIBOR, Libor Panel Banks, The ICE, Waterfall Methodology

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 that ICE Benchmark Administration Limited (IBA) has successfully completed the transition of all LIBOR panel banks to the Waterfall Methodology.

IBA announced in its report on the evolution of ICE LIBOR, published on April 25, 2018, that it intended to begin the process of transitioning LIBOR Panel Banks to making submissions in accordance with the Waterfall Methodology, as set out in the LIBOR Output Statement. The LIBOR Output Statement sets out a single LIBOR definition and a standardised Waterfall Methodology for making LIBOR submissions, based on transactions to the greatest extent possible. The transition occurred on a gradual basis to minimise operational and technology risks.

IBA is now pleased to announce the successful completion of the transition to the Waterfall Methodology for all LIBOR Panel Banks.

Notwithstanding this successful transition, 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.

About Intercontinental Exchange

Intercontinental Exchange (NYSE:ICE) is a Fortune 500 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 is the premier venue for raising capital in the world, driving economic growth and transforming markets.

SOURCE: Intercontinental Exchange

Intercontinental Exchange Releases 2019 Corporate Responsibility Report

April 2, 2019 by industryspread Leave a Comment Filed Under: Regulatory Annoucements Tagged: Corporate Responsibility Report, ESG, ETF, financial expertise, ICE BofAML, Intercontinental exchange, regulated exchanges, sustainable finance, The ICE

Intercontinental Exchange (NYSE: ICE), a leading operator of global exchanges and clearing houses and provider of data and listings services, today released its annual Corporate Responsibility Report. The report complements Intercontinental Exchange’s enhanced corporate citizenship website which provides timely information and resources that are meaningful to stakeholders as issues related to environmental, social and governance topics continue to evolve.

Jeffrey C. Sprecher

“From our earliest days, innovation has been at the heart of what we do, and as our markets and products continue to expand, based on our customers’ needs, so too does the way we share information and together make advances in the area of sustainability,” said Intercontinental Exchange Chairman and CEO Jeffrey Sprecher. “Increased diversity of thought, strong governance, and support for the communities we serve around the world provide the foundation for what it means to be a responsible company,” Sprecher added.

As a leader in global environmental markets, ICE promotes opportunities for sustainable finance, including over $3.5 billion in listed sustainable ETFs and ESG-based indices like the ICE BofAML Green Bond Index.
ICE has increased the number of women on its Board of Directors and continues to focus on issues related to gender pay equity and increasing diversity across the company.
From helping increase financial literacy, to supporting employee and customer driven initiatives, ICE is committed to giving back to communities around the world.
A publicly-traded, Fortune 500 company and the owner of the New York Stock Exchange, ICE’s strong corporate governance and financial expertise is critical in operating tightly regulated exchanges and clearing houses around the world.
Stacey Cunningham

“As the home of over 2,300 publicly-traded companies, the New York Stock Exchange is uniquely positioned to connect the world’s leading thinkers as a community around critical ESG issues,” said NYSE President Stacey Cunningham. “Leaders of these companies learn a lot from their peers, and we’ve been pleased to provide educational resources and foster dialogue to help those who list here chart their own corporate citizenship path.”

The 2019 Intercontinental Exchange Corporate Responsibility Report is available on the company’s website at: https://www.intercontinentalexchange.com/about/corporate-responsibility.

About Intercontinental Exchange

Intercontinental Exchange Launches Marine Fuel Contracts in Advance of IMO 2020

February 25, 2019 by industryspread Leave a Comment Filed Under: Regulatory Annoucements Tagged: clearing houses, Global Exchanges, ICE, ICE Brent, ice data services, IMO, Intercontinental exchange, International Maritime Organization, Marine Fuel Contracts, NYSE, risks

Intercontinental Exchange, Inc. (NYSE:ICE), a leading operator of global exchanges and clearing houses and provider of data and listings services, today launched new Marine Fuel contracts in advance of the implementation of the 0.5% sulphur cap by the International Maritime Organization (IMO) in 2020.

ICE’s new futures contracts will settle against the S&P Global Platts physical Marine Fuel 0.5% assessments. The IMO regulation limits sulphur emissions from shipping bunker fuel from January 2020, requiring ships to use fuel oil with a maximum sulphur content of 0.5% (mass/mass) outside designated emission control areas.

The new contracts are as follows:

Fuel Oil Outright – Marine Fuel 0.5% FOB Rotterdam Barges (Platts) Future
Fuel Oil Outright – Marine Fuel 0.5% FOB Singapore (Platts) Future
Fuel Oil Diff – Marine Fuel 0.5% FOB Rotterdam Barges (Platts) vs 3.5% FOB Rotterdam Barges (Platts) Future
Fuel Oil Diff – Marine Fuel 0.5% FOB Singapore (Platts) Future vs 380 CST Singapore (Platts) Future
Fuel Oil Outright – Marine Fuel 0.5% FOB USGC Barges (Platts) Future
Fuel Oil Diff – Marine Fuel 0.5% FOB USGC Barges (Platts) vs USGC HSFO (Platts) Future

“We are launching these contracts in response to demand from our customers for Marine Fuel 0.5% specific derivative contracts. The contracts will allow participants around the world to manage changing shipping and refining economics, hedge forward, and restructure positions,” said Jeff Barbuto, ICE’s Global Head of Oil Sales and Business Development. “The contracts will operate alongside ICE’s benchmark Low Sulphur Gasoil, fuel oil and LNG markets, providing customers with a range of hedging tools to assist with the transition to the new regulations in 2020.”

ICE Low Sulphur Gasoil is the key global refined oil benchmark. Gasoil futures and options volume grew 10% in 2018 versus 2017, while Open Interest reached a record 1.15 million lots in September 2018. The contract has become the go-to price marker for the middle part of the refined barrel and the world’s leading middle distillate benchmark. ICE Low Sulphur Gasoil is an important and efficient hedging and trading mechanism, providing market participants with access to a range of products in a single contract and plays the same role for middle distillate oil that ICE Brent Crude plays for the crude oil market.

Half of the world’s crude and refined oil 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, ICE Permian WTI, the Asian benchmark Platts Dubai crude, Heating Oil and RBOB Gasoline, as well as more than 500 additional grades and oil products.

ICE is home to a global natural gas complex. This includes ICE JKM LNG (Platts), one of the fastest growing natural gas benchmarks and the most liquid Asian natural gas benchmark. ICE offers the broadest range of natural gas benchmarks across the US, Canada, Europe and Asia.

About Intercontinental Exchange

Intercontinental Exchange (NYSE: ICE) is a Fortune 500 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.

Intercontinental Exchange and the NYSE Launch ‘Insights’

February 16, 2019 by industryspread Leave a Comment Filed Under: Regulatory Annoucements Tagged: entrepreneurs, GoDaddy Inc, Intercontinental exchange, New York Stock Exchange, NYSE Launch, NYSE Trading Floor, Philip Krim, The ICE

New thought leadership platform encourages followers to watch, listen and explore how entrepreneurs and innovators are transforming industries and shaping the future.

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, and the New York Stock Exchange (NYSE), a wholly owned subsidiary of ICE, today launched the new Insights content platform, an online gateway to inspiring conversations with top global business leaders, entrepreneurs and innovators, featuring:

SLICE, a new weekly series showcasing conversations with entrepreneurs and CEOs that will air on Cheddar Business, the post-cable network that broadcasts daily on the NYSE Trading Floor.
WALK THIS WAY, a new 10-part series where CEOs take you inside their headquarters to show viewers how they are building workspaces of the future.
RADIATE, the micro-lesson video platform founded by NYSE Executive Vice Chairman Betty Liu in 2016 to empower emerging leaders with expert advice. RADIATE officially relaunches in a subscription-free format.
INSIDE THE ICE HOUSE, a podcast that features conversations with leaders, entrepreneurs and visionaries who walk through the doors of the NYSE with a dream of building businesses and changing the world.
Betty Liu

“ICE and the NYSE are the home to the world’s greatest business leaders and innovators,” said NYSE Executive Vice Chairman Betty Liu. “Through our new Insights content platform, we want to share their incredible stories and bring viewers behind the scenes of our global community. Our mission is to inspire budding entrepreneurs and next-generation leaders as they change the world.”

Insights builds upon the NYSE’s existing visibility platform, which includes more than 35 in-house media outlets and social media channels reaching millions of followers.

Content that Informs and Inspires

Launching today, SLICE is a new interview show on Cheddar Business that will air Wednesday mornings between 8-10 AM ET, coinciding with the NYSE Opening Bell. Branded “SLICE” because of the collaboration between ICE and Cheddar, the new series will unearth what entrepreneurs and disruptive brands are doing to change our way of life and our future. In early episodes, Liu will be joined by guests such as General Motors Company Chairman and CEO, Mary Barra, designer Rebecca Minkoff, and Porsche Cars North America, Inc. President and CEO, Klaus Zellmer, among others.

Cheddar Business, which broadcasts live every day from the NYSE Trading Floor, reaches more than 10 million viewers and is available on Sling TV, DirecTV NOW, Hulu, YouTube TV, Sony PlayStation Vue, Snapchat, fuboTV, Philo, Amazon, Twitch, Twitter, 60 percent of smart TVs in the U.S., and Facebook.

Launching on February 21, WALK THIS WAY is a digital-first program that shadows CEOs inside their headquarters, offering a first-person view of how they are building dynamic workspaces. The 10-episode series will be distributed to viewers via the NYSE’s network of more than three million followers on Twitter, Instagram, Facebook and LinkedIn. The new program will follow business leaders such as GoDaddy Inc. CEO, Scott Wagner and Casper CEO, Philip Krim.

Insights will also serve as the new home to RADIATE, the company Liu founded in 2016 to empower emerging leaders with expert advice. RADIATE provides a library of more than 2,000 short-length career development video lessons taught by over 100 global CEOs and thought leaders.

Rounding out the conversations is INSIDE THE ICE HOUSE, the popular and thought-provoking podcast from Intercontinental Exchange, which has posted over 80 long-form episodes in its first full year of production.

For more information on the New York Stock Exchange, click here.

Intercontinental Exchange Announces Further Record Trading in TTF Natural Gas and JKM LNG (PLATTS) Contracts

February 8, 2019 by industryspread Leave a Comment Filed Under: Regulatory Annoucements Tagged: energy markets, Intercontinental exchange, JKM LNG, JKM LNG (Platts) contracts, natural gas benchmarks, record trading, The ICE, TTF Natural Gas, Utility Markets

Intercontinental Exchange (NYSE:ICE), a leading operator of global exchanges and clearing houses and provider of data and listings services, today announced further record trading in TTF Natural Gas and JKM LNG (Platts) contracts.

On January 30, 2019, TTF futures hit an open interest (OI) record of 1.04m lots. TTF futures and options combined achieved monthly volume of 952.4 TWh in January. Average daily volume (ADV) and OI in TTF futures and options combined are up 103% and 64%, respectively, in January 2019, versus January 2018.

JKM LNG (Platts) futures traded a record 25,605 lots in January, an increase of 22% compared to the previous record of 20,916 lots set in November 2018. JKM LNG (Platts) hit an OI record on February 4, 2019, of 26,928 lots. ADV and OI in JKM LNG (Platts) are up 176% and 123%, respectively, in January 2019, versus January 2018. ICE reports OI net in line with standard industry practice.

As announced in Circular 19/012, ICE will launch JKM LNG (Platts) Average Price Options on March 4, 2019, subject to the satisfactory conclusion of applicable regulatory processes.

“Europe’s vast energy infrastructure and geographical location allow it to provide a unique role as a balancing market for LNG. TTF and NBP are the two most liquid European natural gas benchmarks and, with its continued record trading activity, TTF is transforming into a global natural gas benchmark,” said Gordon Bennett, Managing Director, Utility Markets at Intercontinental Exchange. “JKM LNG (Platts) is one of the fastest growing natural gas benchmarks and has established itself as the most liquid Asian natural gas benchmark”.

As home to the broadest range of natural gas benchmarks, ICE plays a leading role in providing access to price transparency and data to allow the market to navigate and risk manage the globalization of natural gas and the ongoing transition in energy markets.

NYSE Parent, Intercontinental Exchange (ICE) Reports Strong Revenue Growth in 2018, Consolidated Revenue at $4.9 Bn, an Increase of 14.1% Y-o-Y

February 8, 2019 by Karthik Subramanian Leave a Comment Filed Under: Industry News Tagged: brokerage, Brokers, Capital Markets, financial services, Intercontinental exchange, investment, Jeffrey Sprecher, NYSE, trading platform

Intercontinental Exchange (ICE), the parent of the New York Stock Exchange (NYSE) has released its financial results for the final quarter ending December 2018 and for the full year 2018.

Overall, the exchange reported solid growth during the year marking the 13th consecutive year to deliver record revenues. For the fourth quarter ending December 2018, the consolidated net revenue was $1.31 billion, representing an increase of 14 per cent year-on-year.

During the quarter, the revenue from trading and clearing contributed $657 million, representing a jump of 27 per cent year-over-year. The fixed income and credit revenue was $83 million, up by 152 per cent from $32 million in the fourth quarter in 2017. The cash and equity options revenue during the fourth quarter also increased by 35 per cent year-on-year to $93 million from $70 million in the fourth quarter of 2017.

Taking a look at the full year performance, the total consolidated net revenues during the period increased to $4.9 billion, a growth of 7.4 per cent year-on-year. Breaking up the revenue, trading and clearing segment contributed $1.3 billion in revenue, an increase of 14.1 per cent year-on-year. The fixed income and credit revenue came in at $240 million, increased by an impressive 72 per cent from $139 million. Cash equities and equity options revenue witnessed an increase of 14 per cent to $327 million from $287 million in 2017.

Also, the company generated record cash flow in 2018, allowing it to return shareholders approximately $1.8 billion in the capital, highest ever in the company’s history.

Commenting on the quarterly performance, ICE Chairman & Chief Executive Officer, Jeffrey Sprecher said:

“2018 marked our 13th consecutive year of record revenues – a track record directly attributable to customer demand for our risk management solutions and the investments we’ve made to enhance our technology, expand our content and broaden our distribution.”

“As we look to 2019, we remain focused on bringing mission-critical solutions to our customers and delivering value to our stockholders.”

The company also provided guidance for the first quarter of 2019 with data revenue estimated between $540 million and $545 million and for the full year, it is estimated between $2.19 billion and $2.24 billion.

Intercontinental Exchange Completes Acquisition of Simplifile LC

Intercontinental Exchange Announces Record Open Interest in Global Energy Futures

Intercontinental Exchange Announces Agreement to Acquire Simplifile LC

Intercontinental Exchange Launches Eight New Regional MSCI Futures Contracts

ICE Benchmark Administration Successfully Completes the Transition of LIBOR Panel Banks to the Waterfall Methodology

Intercontinental Exchange Releases 2019 Corporate Responsibility Report

Intercontinental Exchange Launches Marine Fuel Contracts in Advance of IMO 2020

Intercontinental Exchange and the NYSE Launch ‘Insights’

Intercontinental Exchange Announces Further Record Trading in TTF Natural Gas and JKM LNG (PLATTS) Contracts

NYSE Parent, Intercontinental Exchange (ICE) Reports Strong Revenue Growth in 2018, Consolidated Revenue at $4.9 Bn, an Increase of 14.1% Y-o-Y

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