Intercontinental Exchange Reports May 2024 Statistics

Rhea-AI Summary

Intercontinental Exchange (NYSE:ICE) has released its May 2024 trading volume and revenue statistics, showing notable growth across multiple sectors. Key highlights include a 33% year-over-year (y/y) increase in total average daily volume (ADV) and a 24% y/y rise in open interest (OI). Specific records were set in various categories: Energy ADV up 35% y/y, Total Oil ADV up 30% y/y, and WTI ADV up 83% y/y. Additionally, total natural gas ADV increased by 42% y/y, and environmental ADV surged by 67% y/y. In the financial sector, total ADV was up 37% y/y, with interest rates ADV seeing a 44% y/y growth.

Positive

• Total average daily volume (ADV) up 33% year-over-year (y/y).
• Open interest (OI) up 24% y/y, with a record of 96.5 million lots on May 27.
• Energy ADV up 35% y/y, OI up 25% y/y with a record of 62.5 million lots on May 23.
• Total Oil ADV increased by 30% y/y, and WTI ADV saw a significant rise of 83% y/y.
• Total Natural Gas ADV up 42% y/y, with a record OI of 41.9 million lots on May 23.
• Total Financials ADV grew by 37% y/y, and Interest Rates ADV increased by 44% y/y.
• Environmental ADV surged by 67% y/y, indicating growing interest in this sector.
• Notable increases in NYSE Equities and Equity Options with ADV up 23% y/y and 17% y/y, respectively.

Negative

• Brent open interest (OI) only rose by 12% y/y, which is modest compared to other categories.
• WTI open interest (OI) increased by just 7% y/y despite the high ADV growth.
• Dubai OI up only 7% y/y, showing growth in this area.
• Cocoa OI registered a moderate 15% y/y increase, which is relatively low.

Insights

Financial Analyst

The recent trading statistics released by Intercontinental Exchange (ICE) showcase significant year-over-year growth across various trading segments. Notably, the total average daily volume (ADV) has surged by 33% and the open interest (OI) has grown by 24%.

From a financial perspective, these metrics indicate robust trading activity and increased market participation, both of which can positively impact ICE's revenue streams. Particularly, the spike in Energy ADV by 35% and Natural Gas ADV by 42% suggests a thriving energy trading market. Record levels in specific commodities and products, such as WTI and Gasoil, could lead to higher transaction fees, a core revenue driver for ICE.

Furthermore, the increase in NYCE Cash Equities ADV and Equity Options ADV signals growing confidence in the equity markets. This diverse growth across sectors underscores ICE's ability to capitalize on market volatility and enhance profitability. However, it's important for investors to consider market trends and external factors influencing these statistics.

Market Research Analyst

Examining the trading volume and revenue statistics, it's clear that ICE is experiencing substantial growth in various market segments. For instance, the record OI of 96.5M lots on May 27 highlights a surge in investor interest, particularly in the energy sector, which has traditionally been a strong performer for ICE.

The notable growth in segments like Total Oil (ADV up 30%) and Dubai (ADV up 61%) reflects increased global commodity trading, possibly driven by geopolitical dynamics and supply-demand shifts. Similarly, the rise in Total Environmentals ADV by 67% indicates a growing focus on sustainable investments and carbon trading, aligning with global trends towards environmental responsibility.

Understanding these dynamics helps retail investors gauge where ICE's growth drivers are concentrated and assess the long-term sustainability of these trends. It also points to the importance of diversifying investment portfolios to leverage growth in various sectors.

ATLANTA & NEW YORK--(BUSINESS WIRE)-- Intercontinental Exchange, Inc. (NYSE:ICE), a leading global provider of technology and data, today reported May 2024 trading volume and related revenue statistics, which can be viewed on the company’s investor relations website at https://ir.theice.com/ir-resources/supplemental-information in the Monthly Statistics Tracking spreadsheet.

May highlights include:

• Total average daily volume (ADV) up 33% y/y; open interest (OI) up 24% y/y, including record OI of 96.5M lots on May 27
• Energy ADV up 35% y/y; OI up 25% y/y, including record OI of 62.5M lots on May 23
  • Total Oil ADV up 30% y/y; OI up 21% y/y
    • Brent ADV up 16% y/y; OI up 12% y/y
    • Record WTI ADV up 83% y/y; OI up 7% y/y
    • Gasoil ADV up 20% y/y; OI up 44% y/y, including record options OI of 220k lots on May 31
    • Record Other Crude & Refined products ADV up 58% y/y; OI up 28% y/y, including record futures OI of 5.1M lots on May 30
      • Dubai ADV up 61% y/y; OI up 7% y/y
      • Murban ADV up 160% y/y
  • Total Natural Gas ADV up 42% y/y; OI up 28% y/y, including record OI of 41.9M lots on May 23
    • North American Gas ADV up 43% y/y; OI up 24% y/y, including record futures OI of 19.3M lots on May 27
    • TTF Gas ADV up 37% y/y; OI up 69% y/y, including record OI of 4.6M lots on May 23
    • Asia Gas ADV up 22% y/y; OI up 55% y/y
  • Total Environmentals ADV up 67% y/y; OI up 36% y/y
• Cocoa OI up 15% y/y
• Coffee ADV up 40% y/y; OI up 20% y/y
• Cotton ADV up 9% y/y
• Total Financials ADV up 37% y/y; OI up 27% y/y
  • Total Interest Rates ADV up 44% y/y; OI up 36% y/y
    • SONIA ADV up 70% y/y; OI up 158% y/y
    • Euribor ADV up 35% y/y; OI up 12% y/y
    • Gilts ADV up 21% y/y; OI up 38% y/y
• NYSE Cash Equities ADV up 23% y/y
• NYSE Equity Options ADV up 17% y/y

About Intercontinental Exchange

Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds, and operates digital networks that connect people to opportunity. We provide financial technology and data services across major asset classes helping our customers access mission-critical workflow tools that increase transparency and efficiency. ICE’s futures, equity, and options exchanges -- including the New York Stock Exchange -- and clearing houses help people invest, raise capital and manage risk. We offer some of the world’s largest markets to trade and clear energy and environmental products. Our fixed income, data services and execution capabilities provide information, analytics and platforms that help our customers streamline processes and capitalize on opportunities. At ICE Mortgage Technology, we are transforming U.S. housing finance, from initial consumer engagement through loan production, closing, registration and the long-term servicing relationship. Together, ICE transforms, streamlines, and automates industries to connect our customers to opportunity.

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 here. 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, 2023, as filed with the SEC on February 8, 2024.

Category: Corporate

SOURCE: Intercontinental Exchange

ICE-CORP

View source version on businesswire.com: https://www.businesswire.com/news/home/20240605124688/en/

ICE Investor Relations Contact:

Katia Gonzalez

+1 678 981 3882

katia.gonzalez@ice.com

investors@ice.com

ICE Media Contact:

Josh King

+1 212 656 2490

josh.king@ice.com

media@ice.com

Source: Intercontinental Exchange

FAQ

What is the year-over-year growth in total average daily volume for ICE in May 2024?

Total average daily volume (ADV) for ICE increased by 33% year-over-year in May 2024.

How much did ICE's open interest grow in May 2024?

ICE's open interest (OI) grew by 24% year-over-year in May 2024.

What was the year-over-year growth in energy ADV for ICE in May 2024?

Energy ADV for ICE grew by 35% year-over-year in May 2024.

How much did WTI ADV increase for ICE in May 2024?

WTI ADV for ICE increased by 83% year-over-year in May 2024.

What was the growth in total natural gas ADV for ICE in May 2024?

Total natural gas ADV for ICE grew by 42% year-over-year in May 2024.

How did environmental ADV perform for ICE in May 2024?

Environmental ADV for ICE surged by 67% year-over-year in May 2024.

What was the increase in total financials ADV for ICE in May 2024?

Total financials ADV for ICE increased by 37% year-over-year in May 2024.

How much did NYSE cash equities ADV grow in May 2024?

NYSE cash equities ADV grew by 23% year-over-year in May 2024.