Yahoo Finance Intercontinental Exchange Reports Solid February Volume
Intercontinental Exchange, Inc.’s 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. CME, Cboe Global Markets, Inc. CBOE and MarketAxess Holdings Ltd. 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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