Intercontinental Exchange Reports September & Third Quarter 2021 Statistics

Rhea-AI Summary

Intercontinental Exchange (NYSE: ICE) reported strong trading performance for September and the third quarter of 2021, highlighting a robust market activity amid inflation concerns. Key metrics showed a total average daily volume (ADV) increase of 18% y/y for Q3 and 11% y/y for September. Notable segments included Energy ADV up 23% y/y and Natural Gas ADV up 34% y/y. The company updated guidance, projecting adjusted operating expenses around $40 million related to Bakkt and non-operating expenses ranging from $47 to $52 million.

Positive

• Total ADV up 18% y/y for Q3.
• Total Energy ADV increased by 23% y/y.
• Natural Gas ADV surged 34% y/y.
• Brent ADV rose 25% y/y, reflecting strong demand.

Negative

• Adjusted operating expenses related to Bakkt at approximately $40 million, indicating growing costs.

Third Quarter ADV up 18% y/y; OI up 9% y/y

ATLANTA & NEW YORK--(BUSINESS WIRE)-- Intercontinental Exchange, Inc. (NYSE: ICE), a leading global provider of data, technology and market infrastructure, today reported September and third quarter 2021 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.

“We’ve seen elevated market activity across numerous asset classes in the third quarter as our customers manage their exposure to concerns including inflation driving interest rate changes, and rising gas and carbon prices in energy markets,” said Ben Jackson, President of Intercontinental Exchange. “ICE’s global exchanges were built to connect market participants and provide price transparency to allow them to manage their risk efficiently and with greater certainty.”

September highlights include:

• Total average daily volume (ADV) up 11% y/y; total open interest (OI) up 9% y/y
• Total Energy ADV up 23% y/y; OI up 8% y/y
• Total Oil ADV up 16% y/y
  • Brent ADV up 25% y/y
  • Gasoil ADV up 13% y/y; OI up 8% y/y
  • Other crude and refined products ADV up 20% y/y
• Total natural gas ADV up 34% y/y; OI up 13% y/y
  • Record TTF gas ADV up 151% y/y; OI up 30% y/y including record OI of 3.4M lots on September 23
  • JKM ADV up 76% y/y; OI up 35% y/y including record JKM OI on September 14
  • North American nat gas ADV up 20% y/y; OI up 11% y/y
• Environmentals ADV up 35% y/y; OI up 15% y/y including record OI of 3M lots on September 21
• Ags & Metals OI up 12% y/y
  • Coffee OI up 22% y/y
  • Cocoa OI up 20% y/y
  • Cotton OI up 35% y/y
• Total Interest Rate ADV up 4% y/y; OI up 13% y/y
  • Euribor ADV up 6% y/y; OI up 17% y/y
  • Gilt ADV up 29% y/y; OI up 45% y/y
  • Record SONIA ADV of 327k contracts; record OI of 3.9M contracts
• U.S. Equity Options ADV up 28% y/y

Third quarter highlights include:

• Total ADV up 18% y/y
• Total Energy ADV up 23% y/y
• Total Oil ADV up 26% y/y
  • Brent ADV up 35% y/y
  • Gasoil OI up 15% y/y
  • Other crude and refined products ADV up 18% y/y
• Total natural gas ADV up 17% y/y
  • Record TTF gas ADV up 105% y/y
  • Record JKM ADV up 67% y/y
  • North American nat gas ADV up 6% y/y
• Environmentals ADV up 36% y/y
• Cocoa ADV up 12% y/y
• Total Interest Rate ADV up 18% y/y
  • Euribor ADV up 12% y/y
  • Gilt ADV up 32% y/y
  • Record SONIA ADV of 197k contracts
• U.S. Equity Options ADV up 33% y/y

Updated Guidance:

• ICE now expects third quarter adjusted operating expenses⁽¹⁾ related to Bakkt to be approximately $40 million.
• ICE now expects third quarter GAAP non-operating expenses to be in the range of $47 million to $52 million. Adjusted non-operating expenses are expected to be in the range of $72 million to $77 million to account for a $30 million dividend related to our investment in Euroclear and FX.

(1) Non-GAAP operating expenses exclude amortization of acquisition-related intangibles and transaction-related costs.

About Intercontinental Exchange

Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds and operates digital networks to connect people to opportunity. We provide financial technology and data services across major asset classes that offer our customers access to mission-critical workflow tools that increase transparency and operational efficiencies. We operate exchanges, including the New York Stock Exchange, and clearing houses that help people invest, raise capital and manage risk across multiple asset classes. Our comprehensive fixed income data services and execution capabilities provide information, analytics and platforms that help our customers capitalize on opportunities and operate more efficiently. At ICE Mortgage Technology, we are transforming and digitizing the U.S. residential mortgage process, from consumer engagement through loan registration. Together, we transform, streamline and automate 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, 2020, as filed with the SEC on February 4, 2021.

SOURCE: Intercontinental Exchange

ICE-CORP

View source version on businesswire.com: https://www.businesswire.com/news/home/20211005005302/en/

ICE Investor Relations Contact:

Mary Caroline O’Neal

marycaroline.oneal@ice.com

+1 770 738 2151



investors@ice.com



ICE Media Contact:

Josh King

josh.king@ice.com

+1 212 656 2490



media@ice.com

Source: Intercontinental Exchange

FAQ

What were the key trading volumes reported by ICE for September 2021?

In September 2021, ICE reported total average daily volume (ADV) up 11% y/y and total open interest (OI) up 9% y/y.

How did ICE perform in the third quarter of 2021?

ICE's performance in Q3 2021 showed total ADV up 18% year-over-year, with significant growth in various asset classes.

What factors influenced ICE's trading activities in Q3 2021?

Elevated market activity was driven by inflation concerns, interest rate changes, and rising gas and carbon prices.

What is the updated guidance for ICE's operating expenses?

ICE expects third quarter adjusted operating expenses related to Bakkt to be around $40 million.