Intercontinental Exchange Inc. - ICE STOCK NEWS

Intercontinental Exchange (NYSE: ICE) has announced the launch of a new webpage by its ICE Benchmark Administration (IBA) to facilitate the transition to new U.S. Dollar interest rate benchmarks. The page features daily reference rates, including ICE Bank Yield Index rates, ICE Term SOFR rates, and Tradeweb ICE CMT rates, along with historical test results. IBA's President Tim Bowler emphasized the webpage's role in aiding market participants to transition contracts from U.S. Dollar LIBOR.

Intercontinental Exchange (NYSE:ICE) reported record trading activity in its TTF and JKM LNG (Platts) natural gas benchmarks amid market volatility. Key highlights include:

• TTF Futures achieving record open interest of 1.9 million contracts on January 27.
• Daily volume surpassing 347,500 contracts on January 12.
• Monthly volume reaching approximately 4 million contracts in January, eclipsing previous records.
• JKM LNG (Platts) open interest hitting 125,000 contracts on January 14.

This surge reflects the increasing reliance on exchange-based trading for transparency and risk management.

In December 2020, interest rates hit a historic low, with the 30-year note at 2.93%, marking the lowest since 2014. The average rates for FHA and Conventional loans were 2.94% and 2.96%, respectively, while VA loans fell to 2.66%. Refinances made up 60% of closed loans, a significant increase from 46% in December 2019. Average FICO scores dipped slightly to 751, and the time to close loans rose to 58 days. Despite challenges posed by the pandemic, ICE Mortgage Technology continued to adapt through digital solutions.

Intercontinental Exchange (NYSE: ICE) announced updates on ICE Futures Abu Dhabi (IFAD), planning to launch ICE Murban Crude Oil Futures on March 29, 2021, pending regulatory approvals. The Bank of England and the Monetary Authority of Singapore have granted necessary approvals, allowing direct access to IFAD from several jurisdictions, including the US and Japan. The futures market aims to leverage ICE's global energy network and partnerships, providing various cash-settled derivatives to enhance trading efficiency.

Intercontinental Exchange (NYSE:ICE) and ADP (NASDAQ:ADP) have revealed plans to launch a new alternative data offering for the U.S. municipal bond market. This initiative combines ICE's expertise in municipal bond pricing with ADP's workforce data to enhance transparency and insights for investors. Available through the Snowflake Data Marketplace, this data aims to improve understanding of municipal bond issuers' creditworthiness, addressing challenges related to data scarcity and consistency in the market.

Intercontinental Exchange (NYSE:ICE) has launched the ICE Term SONIA Reference Rates (ICE TSRR) as forward-looking benchmarks for financial instruments. These rates cover one, three, six, and 12-month tenors and are based on a Waterfall Methodology utilizing price data from eligible SONIA-linked interest rate derivatives. The launch follows a testing period initiated on June 25, 2020. Published daily, the ICE TSRR aims to support financial markets in their transition to new benchmarks, aiding businesses and borrowers in managing interest expenses effectively.

Intercontinental Exchange (NYSE: ICE) announced Bakkt Holdings' merger with VPC Impact Acquisition Holdings (NASDAQ: VIH), valuing the combined entity at approximately $2.1 billion. The deal includes a cash contribution of up to $207 million from VIH's trust and a $325 million private placement, with ICE committing $50 million. Upon completion, ICE will hold about 65% economic interest in Bakkt Holdings, expected to launch by Q2 2021. Bakkt's estimated Q1 2021 revenue is $7 million against a $25 million operating expense.

Intercontinental Exchange (NYSE:ICE) reported its December, fourth quarter, and full year 2020 trading volume and revenue statistics. The details are accessible on its investor relations website. Ben Jackson, President of ICE, emphasized the challenges faced by customers in navigating uncertainties in global markets throughout 2020. The company's performance metrics can provide insights for investors regarding its operational efficiency and market positions.

Intercontinental Exchange (NYSE:ICE) reported record trading volumes for fixed income portfolio trading in Q4 2020, with over $1.9 billion executed, more than a twofold increase from the previous quarter. This marks the strongest activity since ICE introduced portfolio trading. The portfolio trading now represents nearly 5% of total bond market volumes, tripling previous figures. The success follows the re-launch of ICE Bonds' auction protocol, catering to institutional investors with efficient trading options.