Intercontinental Exchange's (ICE) September Volumes Rises
Zacks Investment Research | Oct 09, 2017 04:36AM ET
Intercontinental Exchange, Inc. (NYSE:ICE) recently announced that volumes for September have increased 21.2% year over year to 6.4 million contracts. Sequentially, the metric displayed a nearly 39% improvement. However, shares of the company have lost about 2% in the last two of trading sessions following the release.
The year-over-year improvement was driven by Financials volume, surging 36.1% to 3.2 million contracts per day and rallying 13.1% in Commodities volume, which also averaged approximately at 3.2 million contracts per day. There were 20 trading days in August compared with a day extra in the year-ago month.
Energy volume expanded 12.6% to about 2.8 million contracts per day, while Agricultural and Metals volume increased 16.7% to 0.4 million contracts. Interest Rate volume soared 79% to 2.5 million contracts per day. Equity Index volume declined nearly 12.6% to 0.7 million. Foreign exchange volume climbed 25% to nearly 0.05 million.
Revenue per contract was 14 cents for September, flat year over year.
Shares of Intercontinental Exchange have underperformed the industry year to date. The stock has gained 22.4%, marginally ahead of the industry’s registered increase of 22.0%.
The company’s broad range of products, risk management services, strategic acquisitions, timely achievement of cost synergies and strategic initiatives should drive the shares higher and strengthen the stock’s growth profile. The company carries a Zacks Rank #3 (Hold). You can see .
Recently, securities exchanges namely, CBOE Holdings Inc. (NASDAQ:CBOE) , CME Group Inc. (NASDAQ:CME) and MarketAxess Holdings Ltd. (NASDAQ:MKTX) also posted their September volumes.
CBOE Holdings’ ADV declined 5.4% to 7.0 million contracts per day, while CME Group witnessed a 13% rise in ADV to 17 million contracts. MarketAxess’ monthly trading volume for September was $116.8 billion.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana. Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
Zacks Investment Research
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.