Intercontinental Exchange Reports Solid February Volume

Intercontinental Exchange, Inc.’s (NYSE:ICE) average daily volume (ADV) in February increased 39% to 7.6 million largely backed by improved Financial ADV, Commodities ADV and Energy ADV. The company reported 26.7% year-over-year increase in Financials volume that rose to 3 million contracts per day.

With 19 trading days in February, Agriculture and Metals ADV of 0.6 million contracts increased 26% year over year. Energy volume too surged about 54% to 3.9 million contracts per day. Thus, Commodities ADV increased nearly 48.8% to 4.5 million in the month.

Interest Rate volume increased 23.2% to 2.6 million contracts per day whereas Equity Index volume increased 51.2% to 0.4 million contracts. Foreign exchange volume was up 29.2% to nearly 0.03 million contracts.

Shares of this Zacks Rank #4 (Sell) company have underperformed the industry in the past year. The stock has rallied 32.9% compared with the industry’s increase of 33.7%. 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.

Recently, securities exchanges, namely CME Group Inc. (NASDAQ:CME) , Cboe Global Markets, Inc. (NYSE:CBOE) and MarketAxess Holdings Ltd. (NASDAQ:MKTX) also reported their respective volumes.

CME Group recorded an ADV of 30.1 million contracts during the month, up 58% year over year.

Cboe Global reported total ADV of 11.4 million contracts, which increased 64.6% year over year, driven by solid performance across Options and Futures. Though U.S. Equities and global forex witnessed increase, European Equities declined.

MarketAxess’ monthly trading volume came in at $592.1 billion, consisting of $190.0 billion in credit volume and $402.1 billion in rates volume.

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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