|Bid||90.01 x 800|
|Ask||92.82 x 800|
|Day's Range||90.95 - 92.80|
|52 Week Range||69.69 - 93.40|
|Beta (3Y Monthly)||0.37|
|PE Ratio (TTM)||25.88|
|Earnings Date||Oct 31, 2019|
|Forward Dividend & Yield||1.10 (1.19%)|
|1y Target Est||97.01|
CEO of Intercontinental Exchange Inc (30-Year Financial, Insider Trades) Jeffrey C Sprecher (insider trades) sold 40,000 shares of ICE on 08/21/2019 at an average price of $92.41 a share. Continue reading...
DeFi is more of a concept than a specific thing. It's a loose collection of ideas popular among the crypto crowd to reshape banking, lending, and derivatives.
(Bloomberg) -- Intercontinental Exchange Inc., the parent of the New York Stock Exchange, won an approval that clears the way for its Bakkt unit to allow investors to buy derivatives that pay out with Bitcoins for the first time.The New York State Department of Financial Services on Friday granted a charter to Bakkt Trust Co. to hold custody of customers’ tokens. The futures had already gotten a green light from the U.S. Commodity Futures Trading Commission under a self-certification process. The first contracts will be offered Sept. 23.“We believe that the availability of a benchmark that can be referenced globally will create confidence in the true price of Bitcoin,” Kelly Loeffler, Bakkt’s chief executive officer, said in a telephone interview. “It’s an important step in creating more trust.”Despite its status of the world’s most valuable cryptocurrency, Bitcoin is known for wild price swings that some say are the result of manipulation. Digital tokens trade on platforms that face far less regulatory scrutiny than exchanges for stocks or derivatives. Many of the venues are also located outside the U.S.According to Loeffler, the fragmented nature of Bitcoin trading means that there’s a lack of confidence of prices. She said that ICE’s futures contracts will lead to a new one-year price curve for Bitcoin that traders can use to express views on the cryptocurrency as they would with other asset classes.Some of the brokerages who already work with ICE to trade futures have agreed to also handle the crypto contracts, according to Bakkt.ICE has said its ultimate goal is to create an ecosystem that would encourage pension funds, endowments and other institutions to invest more money in cryptocurrencies, and make it much easier for consumers to buy products with the cryptocurrency. The venture, announced to much fanfare in August 2018, has lined up big-name backers, including Starbucks Inc. and Microsoft Inc.The goal is to have Bakkt serve as backbone of digital payment infrastructure at retailers starting in 2020, Loeffler said.Bakkt had faced months of delays amid skepticism from the CFTC officials around how clients’ tokens would be stored, and thus safeguarded from possible theft and manipulation, according to people familiar with the matter. The concerns prompted ICE to seek the license from New York.While ICE’s Bakkt futures won’t be the first Bitcoin futures to be listed on a major U.S. derivatives exchange, they could be the most significant for the burgeoning crypto industry. CME Group Inc. and Cboe Global Markets Inc. launched contracts in December 2017 that pay out in U.S. dollars on expiration, not actual Bitcoin. The Cboe no longer offers them.When Bakkt’s one-day and one-month contracts expire they would pay out in Bitcoin tokens instead of U.S. dollars. The futures will be exchange-traded on ICE Futures U.S. and cleared on ICE Clear US, which are federally regulated by the CFTC.Bitcoin erased losses of as much as 6% to trade little changed at about $10,400 after the announcement. The largest cryptocurrency has dropped about 13% this week. It traded around $7,400 when the the venture was first announced.(Adds comments from Bakkt CEO in fourth and fifth paragraphs.)\--With assistance from Olga Kharif.To contact the reporter on this story: Ben Bain in Washington at email@example.comTo contact the editors responsible for this story: Jeremy Herron at firstname.lastname@example.org, Dave Liedtka, Gregory MottFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Bakkt Trust Co LLC has been granted a license to operate as a limited liability trust company, the New York State Department of Financial Services said on Friday. Bakkt is a cryptocurrency platform affiliate of Intercontinental Exchange Inc, which also owns the New York Stock Exchange. A trust company is technically different from a bank in New York but can take deposits and make loans, and act as an agent for government bodies.
Intercontinental Exchange, the world’s second-largest exchange group by market value, is to launch trading in bitcoin futures next month, in a long-awaited bid to lure more Wall Street investors into the sometimes treacherous world of crypto. Bakkt, the business set up by the Atlanta-based group a year ago to develop infrastructure for trading digital assets, said on Friday that it would launch two physically delivered bitcoin futures contracts on September 23, one of them monthly and one daily. of crypto assets has been a big concern of institutional investors, because exchanges have repeatedly suffered hacks and outages.
The worst result, after buying shares in a company (assuming no leverage), would be if you lose all the money you put...
Intercontinental Exchange, Inc. (ICE), a leading operator of global exchanges and clearing houses and provider of data and listings services, and Magellan Midstream Partners, L.P. (MMP) announced the addition of dock capacity auctions for ICE Permian WTI crude oil futures contracts (HOU) at Magellan’s terminals in Galena Park and Seabrook. This new monthly auction process will allow customers who purchase an ICE Permian WTI crude futures contract, deliverable at Magellan’s East Houston terminal (MEH), the optionality to load that product directly onto a vessel at Galena Park and Seabrook dock facilities.
Shares of CME Group and Intercontinental Exchange are at record highs, underscoring investors’ enthusiasm for companies that run the infrastructure for global markets. With equity capitalisations of $77bn and $52bn, respectively, the US duo are the most highly-valued of the clutch of trading venues specialising in stocks, bonds, futures, derivatives and foreign exchange. Over the past decade, the Dow Jones Global Exchanges index has produced total returns of 163 per cent, more than double the 79 per cent return for the MSCI World Banks index.
The Intercontinental Exchange (ICE), an exchange operator, will acquire a family of fixed income volatility indices, including Merrill Lynch’s Option Volatility Estimate (MOVE) to improve client risk management. “The MOVE Index has a long history of providing strong signals about bond market sentiment, and we’re excited to have it become part of our portfolio of fixed income indices,” said ICE Data Services President and COO Lynn Martin. The MOVE Index is a measure of volatility in U.S. interest rates.
The fight between brokers and exchanges around fees and access to trading information has moved from stock exchange floors to data center rooftops. A move by the New York Stock Exchange to install microwave equipment on the roof of its data center to speed up data transmissions is "anti-competitive" and could result in higher trading costs, trading firm Virtu Financial said in a letter to the U.S. Securities and Exchange Commission. Virtu opposed the NYSE's plan because it would allow only one wireless provider - chosen by the exchange - to locate an antenna on the rooftop of the exchange operator's Mahwah, New Jersey, data center, due to "resource and engineering constraints," according to the letter, which was posted to the SEC's website on July 25.
Intercontinental Exchange, Inc. (ICE), a leading operator of global exchanges and clearing houses and provider of data and listings services, today announced it has entered into an agreement to acquire a family of fixed income volatility indices, including the prominent Merrill Lynch Option Volatility Estimate (“MOVE”) family of indices, from Bank of America Merrill Lynch. “The MOVE Index has a long history of providing strong signals about bond market sentiment, and we’re excited to have it become part of our portfolio of fixed income indices,” said Lynn Martin, President & COO of ICE Data Services.
Intercontinental Exchange (ICE) Q2 reflects strength in global energy business and compounding growth in subscription-based Data & Listings business.
ICE (ICE) delivered earnings and revenue surprises of 2.17% and 0.44%, respectively, for the quarter ended June 2019. Do the numbers hold clues to what lies ahead for the stock?
(Bloomberg Opinion) -- London Stock Exchange Group Plc has put another obstacle in the way of any bidder looking to buy the venerable bourse and stop its proposed $27 billion purchase of Refinitiv.On Thursday, LSE shares leapt again after the exchange confirmed its plans to buy the financial data provider and give its owners Blackstone Group LP and Thomson Reuters Corp. a 37% stake in the enlarged company. LSE stock is now 25% above its price before the transaction became public last week, lifting the company’s market value by about 5 billion pounds ($6.1 billion).It was already clear that the LSE is buying Refinitiv (which competes with Bloomberg LP, the parent of Bloomberg News) at an attractive valuation multiple. But there is some justification for renewed enthusiasm. LSE said it could reap 225 million pounds of annual revenue gains from the tie-up within five years, on top of the already announced 350 million pounds of cost savings.Assume a 50% margin on those extra sales and the financial benefits of the deal jump to more than 450 million pounds annually. Allow for integration costs and the long wait for full delivery and this uplift is worth perhaps 4 billion pounds, and will be shared with Blackstone and Thomson.Everything else about the transaction could be expected to exert a downward force on LSE’s stock price: It’s big, it’s different, it dilutes revenue growth and it will push leverage above three times Ebitda, normally a red line for shareholders. Returns look humdrum.If the cost synergies are convincing, the revenue profile of the combination is less easy to be sure about. Refinitiv, whose products include the Eikon terminal, is a mix of mature and growing businesses. LSE says the enlarged group’s sales will grow between 5% and 7% in the first three years after the deal closes. The bottom end of that range would represent something of a come-down for LSE, which grew revenue by 9% last year.Still, Thursday’s reaction suggests investors are relaxed about all this. They may also be giving LSE some credit for moving to a more predictable revenue base. Recurring income will account for about 69% of LSE’s total, up from 39%. And rather than fret about leverage, shareholders appear to be welcoming the earnings uplift from taking on debt. Analysts at Berenberg suggest CME Group Inc. and Intercontinental Exchange Inc. could be potential interlopers. They face a challenge. The rise in LSE’s stock over the last week is already close to the typical premium that would be demanded in a traditional takeover and investors could expect further gains if things go really well.A 198 million-pound break fee is no deterrent – but the approval timetable is. The LSE has chosen to hold its own shareholder vote on the deal before the year-end. If investors say yes, the exchange has to buy Refinitiv once regulatory approval comes through, assuming there’s no cunning legal get-out. That gives only a four-month window for any alternative deal to emerge.True, that sounds like a long time. But it forces interlopers to make a decision about buying the LSE at a time when the U.K.’s relationship with Europe is highly uncertain. That may give them pause. The LSE could have chosen to hold the shareholder vote after regulatory approvals were received – but a canny vendor like Blackstone would hardly have been willing to give the LSE a free option on the deal for more than a year. Still, December seems very soon. An interesting few months lie ahead.To contact the author of this story: Chris Hughes at email@example.comTo contact the editor responsible for this story: Edward Evans at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Chris Hughes is a Bloomberg Opinion columnist covering deals. He previously worked for Reuters Breakingviews, as well as the Financial Times and the Independent newspaper.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
(Bloomberg) -- With Jerome Powell downplaying the size and scope of future Federal Reserve rate cuts, the U.S. dollar looks poised to extend its 2019 rally. It’s yet another setback for bears and a move that’s certain to attract Donald Trump’s ire.The central bank trimmed interest rates on Wednesday, but disappointed many -- including the U.S. president -- as Powell said this wasn’t the start of a prolonged series of reductions. Before the announcement, many had wagered the Fed would be more dovish to match other major central banks concerned about a slowdown in global growth.The greenback surged in the aftermath, with the Bloomberg dollar index jumping to a two-month high. Another benchmark from Intercontinental Exchange Inc. got to a level last seen in 2017. Hedge funds and speculators weren’t positioned for this, having gotten the least bullish on the dollar since June 2018 as of a week ago, the date of the most-recent government tally.Trump -- who has complained about the strength of the dollar -- didn’t seem pleased either. “As usual, Powell let us down,” he tweeted. Before the Fed’s decision, he’d called for a “large” rate cut. Instead, the central bank delivered a standard 25-basis-point reduction.Traders in Asia are buying the greenback on expectations that a less-dovish Fed will keep the dollar a higher-yielding currency, said Rajeev De Mello, chief investment officer at Bank of Singapore Ltd. The stronger dollar will be “difficult” for emerging-market assets in the short-term, although central banks are still likely to cut rates if global growth slows, he said.The greenback has outperformed most Group-of-10 currencies this year, except for the Canadian dollar and the yen. The Bloomberg index surged 1.9% in July, the biggest monthly gain since October.Many observers see more dollar gains ahead, given that the Fed’s peers are even more dovish.Economic weakness is compelling central banks to take “more aggressive steps to weaken their currencies,” said Greg Anderson, New York-based global head of currency strategy at the Bank of Montreal. “If the Fed’s not going to play that game, the dollar is going to take off.”Money markets are pricing in more rate cuts by central banks in Australia and New Zealand, while the euro has been sapped by expectations that the European Central Bank will restart quantitative easing given a spate of weak economic data. “It’s hard to see an argument for the dollar to be weaker from here over the next month,” said Eimear Daly, currency strategist at Macquarie Bank. “In an environment where other central banks are advocating a trajectory of policy easing, a one-and-done Fed rate cut won’t be enough to temper strength. Being the least dovish central bank in the pack means currency strength.”(Adds Bank of Singapore comment in fifth paragraph.)\--With assistance from Ruth Carson.To contact the reporters on this story: Susanne Barton in New York at email@example.com;Katherine Greifeld in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Benjamin Purvis at email@example.com, Nick Baker, Mark TannenbaumFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Intercontinental Exchange has a relative strength line up sharply as it got support at its 50-day line and stands just 1% off its highs.STOCK MARKET TODAY is sponsored by Interactive Brokers. To open an account, go to ibkr.com/whyib