Intercontinental Exchange (ICE) April Volumes Decline Y/Y

·3 min read

Intercontinental Exchange ICE reported soft average daily volume (ADV) for April 2021. In the month, ADV of 5.1 million contracts per day was down 18% year over year due to lower volumes in Commodities as well as Energy. There were 21 trading days in April. Shares of Intercontinental Exchange gained 1.4% in the last two trading days.

Agriculture and Metals ADV of 0.5 million contracts increased 5.7% year over year. Energy volume declined 28.5% to 2.6 million contracts per day. Commodities ADV decreased nearly 24.9% to 3.1 million in the month.

Interest rate volume decreased 1.9% to 1.7 million contracts per day. Equity Index volume decreased 20.6% to 0.2 million contracts. Foreign exchange volume was up 32% to nearly 0.03 million contracts.

Intercontinental Exchange also updated its expense guidance for the second quarter of 2021. The company now expects second quarter non-operating expenses to be in the range of $97 million to $102 million. Adjusted non-operating expenses are expected to be in the range of $105 million to $110 million. Operating expenses are estimated in the range of $895 million to $905 million while adjusted operating expenses are projected in the range of $742 million to $752 million. Revenues for second-quarter 2021 are projected in the range of $844-$859 million.

Shares of this Zacks Rank #3 (Hold) company have outperformed the industry in the past year. The stock has rallied 22% compared with the industry’s increase of 15.5%. The company’s product portfolio, along with a broad range of risk management services, strategic buyouts and a robust capital position will likely help the stock retain its growth momentum.



Recently, MarketAxess Holdings MKTX reported March volumes of $511.4 billion consisting of $225.0 billion in credit volume and $286.4 billion in rates volume. CME Group CME reported ADV of 16.4 million contracts for April. ADV dropped 7%, attributable to lower volumes across three product lines. Cboe Global Markets CBOE reported April ADV of 10.4 million, up 7.6% year over year.

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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