Intercontinental Exchange registers rise in net income in Q3 2019

Maria Nikolova

In the third quarter of 2019, ICE registered net income of $529 million, up from $458 million in the year-ago quarter.

Operator of global exchanges and clearing houses and provider of data and listings services Intercontinental Exchange Inc (NYSE:ICE) has earlier today posted its financial report for the quarter to end-September 2019, with income staging a rise from a year earlier.

In the third quarter of 2019, ICE registered net income of $529 million, up from $458 million in the year-ago quarter.

Consolidated revenues amounted to $1.34 billion, up from $1.2 billion a year earlier. Data and listings revenues amounted to $667 million in the third quarter of 2019. Data revenues for the quarter were $553 million, up 4% from the equivalent quarter in 2018, whereas listings revenues were $114 million, up 2% year-over-year. Third quarter trading and clearing net revenues were $669 million, marking a jump of 20% from the year-ago quarter.

Energy futures and options revenue in the third quarter increased 19% year-over-year on the back of a 12% increase in average daily volume (ADV) and a 4% increase in rate per contract (RPC).

Ags and metals futures and options revenue in the third quarter increased 4% year-over-year driven by a 5% increase in ADV, partially offset by a 3% decrease in RPC.

Financials futures and options revenue in the third quarter increased 18% year-over-year reflecting a 13% increase in ADV and a 3% increase in RPC.

US cash equities and equity options revenue in the third quarter increased 5% year-over-year reflecting a 10% increase in cash equities ADV.

In terms of financial outlook, ICE expects its fourth quarter 2019 GAAP operating expenses to be in a range of $637 million to $647 million and adjusted operating expenses to be in a range of $562 million to $572 million. ICE’s fourth quarter 2019 data revenues are forecast to be in a range of $555 million to $560 million.

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