Intercontinental Exchange Reports September and Third Quarter 2024 Statistics

Rhea-AI Summary

Intercontinental Exchange (NYSE:ICE) reported record trading volumes for September and Q3 2024. Highlights include:

- Total average daily volume (ADV) up 29% y/y; open interest (OI) up 16% y/y
- Record Energy ADV up 24% y/y; OI up 21% y/y
- Record Interest Rates ADV up 50% y/y; OI up 18% y/y
- Brent futures and options saw record quantities, affirming its role as the global oil benchmark
- Notable increases in WTI, Gasoil, Natural Gas, and Environmental markets

Q3 2024 highlights:
- Total ADV up 28% y/y
- Energy ADV up 23% y/y, including record futures of 3.7M lots
- Record ADV for Brent, WTI, Midland WTI, and Murban crude oil contracts
- Significant growth in Natural Gas, Environmentals, and Financial markets

Positive

• Total average daily volume (ADV) increased by 29% year-over-year
• Record Energy ADV, up 24% year-over-year
• Record Interest Rates ADV, up 50% year-over-year
• Brent futures and options traded at record quantities
• WTI ADV up 18% year-over-year with record volumes
• Total Natural Gas ADV up 45% year-over-year
• Total Environmentals ADV up 60% year-over-year
• NYSE Cash Equities ADV up 12% year-over-year
• NYSE Equity Options ADV up 33% year-over-year

Negative

• None.

Insights

Financial Analyst

The September and Q3 2024 trading statistics from ICE reveal a robust performance across multiple asset classes. The standout metrics include:

• Total average daily volume (ADV) up 29% year-over-year, with open interest (OI) up 16%
• Record Energy ADV, up 24% y/y
• Record Interest Rates ADV, up 50% y/y
• Strong performance in key commodities like Brent crude, WTI and natural gas

These figures indicate increased market activity and liquidity, which typically translates to higher transaction-based revenues for ICE. The growth in open interest suggests sustained market engagement, potentially leading to ongoing revenue streams.

The diversified growth across energy, financials and agricultural products demonstrates ICE's strong market position and ability to capitalize on various market conditions. This broad-based performance may provide resilience against sector-specific volatilities.

For investors, these results likely signal positive revenue growth for ICE in Q3 2024, potentially impacting earnings favorably. However, it's important to consider how sustainable this growth is and whether it's priced into current market expectations.

Market Research Analyst

ICE's September and Q3 2024 statistics highlight several key market trends that investors should note:

• The 24% increase in Energy ADV, particularly in oil and natural gas, reflects heightened global energy market volatility. This could be driven by geopolitical tensions, supply constraints, or shifting demand patterns.
• The 50% surge in Interest Rates ADV indicates increased hedging and speculation in the face of changing monetary policies globally. This trend may persist as central banks navigate inflationary pressures and economic uncertainties.
• Strong performance in agricultural commodities (sugar, coffee, cotton) suggests potential supply chain disruptions or changing consumption patterns.

The record volumes in various products, especially Brent crude and WTI, underscore ICE's dominant position in global commodity benchmarks. This strengthens the company's competitive moat and pricing power.

For long-term investors, ICE's ability to capture increased trading activity across diverse asset classes demonstrates its resilience and potential for sustained growth. However, it's important to monitor how macroeconomic factors and regulatory changes might impact trading volumes in future quarters.

Record September Energy and Interest Rates ADV

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

“ICE began building a global multi-asset network of exchanges and markets over two decades ago, and this past quarter we witnessed record trading across commodities, specifically in our global energy markets, as well as interest rate derivatives,” said Ben Jackson, President of ICE. “Notably, Brent futures and options, used to price three quarters of the world’s internationally traded crude oil, traded at record quantities in the last quarter, solidifying its role as the global benchmark price for oil."

September highlights include:

• Total average daily volume (ADV) up 29% y/y; open interest (OI) up 16% y/y
• Record Energy ADV up 24% y/y; OI up 21% y/y
  • Total Oil ADV up 13% y/y; OI up 13% y/y
    • Brent ADV up 11% y/y; OI up 14% y/y, including record options OI of 3.6M lots on September 24
    • Record WTI ADV up 18% y/y; OI up 7% y/y
    • Gasoil ADV up 17% y/y; OI up 46% y/y, including record OI of 1.2M lots on September 17
    • Other Crude & Refined products ADV up 17% y/y; OI up 9% y/y
  • Total Natural Gas ADV up 45% y/y; OI up 24% y/y
    • North American Gas ADV up 50% y/y; OI up 21% y/y
    • Record TTF Gas ADV up 30% y/y; OI up 61% y/y
    • Record Asia Gas ADV up 110% y/y; OI up 60% y/y, including record OI of 142k lots on September 12
  • Total Environmentals ADV up 60% y/y; OI up 35% y/y
• Total Ags & Metals ADV up 11% y/y
  • Sugar ADV up 26% y/y
  • Coffee ADV up 9% y/y
  • Cotton ADV up 17% y/y
• Total Financials ADV up 40% y/y; OI up 14% y/y
  • Record total Interest Rates ADV up 50% y/y; OI up 18% y/y
    • SONIA ADV up 37% y/y, including record futures of 662k lots; OI up 45% y/y, including record futures OI of 2.5M lots on September 16
    • Euribor ADV up 49% y/y; OI up 5% y/y
    • Gilts ADV up 34% y/y; OI up 76% y/y
• NYSE Cash Equities ADV up 12% y/y
• NYSE Equity Options ADV up 33% y/y

Third quarter highlights include:

• Total ADV up 28% y/y
• Energy ADV up 23% y/y, including record futures of 3.7M lots
  • Total Oil ADV up 17% y/y, including record options of 267k lots
    • Record Brent ADV up 15% y/y
    • Record WTI ADV up 33% y/y
      • Record Midland WTI ADV up 134% y/y
    • Gasoil ADV up 13% y/y
    • Other Crude & Refined products ADV up 20% y/y
      • Record Murban ADV up 174% y/y
  • Total Natural Gas ADV up 33% y/y
    • North American Gas ADV up 39% y/y
    • TTF Gas ADV up 16% y/y
    • Asia Gas ADV up 37% y/y
  • Total Environmentals ADV up 52% y/y
• Sugar ADV up 15% y/y
• Coffee ADV up 8% y/y
• Cotton ADV up 3% y/y
• Total Financials ADV up 41% y/y,
  • Record total Interest Rates ADV up 50% y/y
    • SONIA ADV up 44% y/y
    • Euribor ADV up 47% y/y
    • Gilts ADV up 42% y/y
• NYSE Cash Equities ADV up 11% y/y
• NYSE Equity Options ADV up 32% 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/20241003970092/en/

ICE Investor Relations Contact:

Katia Gonzalez

+1 678 981 3882

katia.gonzalez@ice.com

investors@ice.com

ICE Media Contact:

Damon Leavell

+1 212 323 8587

damon.leavell@ice.com

media@ice.com

Source: Intercontinental Exchange

FAQ

What was ICE's total average daily volume growth in September 2024?

ICE reported a 29% year-over-year increase in total average daily volume for September 2024.

How did ICE's Energy markets perform in September 2024?

ICE's Energy markets achieved record average daily volume, up 24% year-over-year, with open interest up 21% year-over-year.

What was the performance of Brent crude oil futures and options for ICE in Q3 2024?

Brent futures and options traded at record quantities in Q3 2024, with ADV up 15% year-over-year, solidifying its role as the global benchmark price for oil.

How did ICE's Interest Rate products perform in September 2024?

ICE reported record total Interest Rates ADV, up 50% year-over-year, with open interest up 18% year-over-year in September 2024.

What was ICE's performance in Natural Gas markets for September 2024?

ICE's Total Natural Gas ADV was up 45% year-over-year, with open interest up 24% year-over-year in September 2024.