Intercontinental Exchange Posts Increase In August Volumes
Zacks Investment Research | Sep 07, 2017 10:17PM ET
Intercontinental Exchange, Inc. (NYSE:ICE) recently announced that volumes for August have increased 12.4% year over year to 4.6 million contracts. Sequentially, the metric displayed a 4.9% decrease. The year-over-year improvement was driven by Financials volume, gaining 5.9% to 1.8 million contracts per day, and 14.7% increase in Commodities volume, which averaged approximately 2.8 million contracts per day. There were 23 trading days in August compared with 21 in the year-ago month.
Energy volume expanded 19.0% to about 2.5 million contracts per day, while Agricultural and Metals volume increased 2.5% to 0.3 million contracts. Interest Rate volume rallied 14.4% to 1.5 million contracts per day. Equity Index volume declined nearly 12% to 0.3 million. Foreign exchange volume surged 33.3% to nearly 0.03 million.
Revenue per contract was 14 cents for August, down 6.7% year over year.
Shares of Intercontinental Exchange have underperformed the .
Recently, securities exchanges namely, CBOE Holdings Inc. (NASDAQ:CBOE) , Nasdaq Inc. (NASDAQ:NDAQ) and MarketAxess Holdings Ltd. (NASDAQ:MKTX) also posted their August volumes.
CBOE Holdings’ ADV soared 33% to 7.4 million contracts per day, while Intercontinental Exchange witnessed a 12% rise in ADV to 4.6 million contracts. MarketAxess’ monthly trading volume for August was $114.3 billion.
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