Intercontinental Exchange Reports Strong Broad-Based ADV Growth In Q2

Intercontinental Exchange Inc ICE disclosed strong growth in Q2 2023 and June average daily volumes (ADV).

In Q2, ICE witnessed an increase of 4% Y/Y in ADV, with growth in energy ADV of 16% Y/Y, Ags & Metals ADV of 27% Y/Y and SONIA ADV of 17% Y/Y. 

The company saw ADV increase of 5% in June, aided by broad-based growth across the business.

"ICE had a strong second quarter and first half as customers utilize our multi-currency platform of global benchmarks across commodities, energy and interest rates to manage their risk exposure. The growth this year of ICE's flagship oil, natural gas, and soft commodity derivative markets, particularly Brent and TTF, show the crucial role these contracts play in reflecting global fundamentals to meet our customers' hedging needs, underpinned by the strength and liquidity of our commercial customer base," said Ben Jackson, President.

In May, ICE reported Q1 adjusted EPS of $1.41, beating the consensus of $1.40 and revenue of $1.896 billion, slightly missing the street estimate of $1.900 billion. 

Also Read: Intercontinental Exchange Says Disappointed On FTC's Attempt To Block Black Knight Deal

Price Action: ICE shares are trading lower by 0.40% at $111.90 on the last check Thursday.