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Intercontinental Exchange May Average Daily Volume Declines

Zacks Equity Research

Intercontinental Exchange, Inc.’s ICE average daily volume (ADV) in May decreased 3.8% to 5.1 million primarily due to lower Financial ADV. However, higher Commodities ADV and Energy volume partially offset the decline. The company reported 9.9% year-over-year decrease in Financials volume that reduced to 1.9 million contracts per day.

With 20 trading days in May, Agriculture and Metals ADV of 0.3 million contracts decreased 18.3% year over year. Energy volume improved 3% to 2.9 million contracts per day. Commodities ADV increased nearly 0.2% to 3.2 million in the month.

Interest rate volume decreased 10.7% to 1.6 million contracts per day whereas Equity Index volume decreased 8.6% to 0.3 million contracts. Foreign exchange volume was up 42.1% to nearly 0.02 million contracts.

Shares of this Zacks Rank #2 (Buy) company have outperformed the industry in the past year. The stock has rallied 14.6% compared with the industry’s increase of 10.1%. 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, Nasdaq NDAQ reported mixed volumes for the month of May. While U.S. equity options volume increased 17.5% year over year to 181 million contracts, European options and futures volume decreased 37.9% year over year to 5.4 million contracts.

MarketAxess Holdings’ MKTX trading volume for May 2020 of $519.7 billion consisted of $229.3 billion in credit volume and $290.5 billion in rates volume.

CME Group Inc. CME reported soft ADV for May 2020. Average daily volume of 17.9 million contracts per day was down 25% year over year attributable to lower volumes in five of the six product lines.

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

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Intercontinental Exchange Inc. (ICE) : Free Stock Analysis Report
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