AllAnalyst Report
logoMorningstarMay 03, 2021

Intercontinental Exchange, Inc.: Mortgage Technology Is a Growing Opportunity for Intercontinental Exchange

Symbols
ICE
Sector(s)
Financial Services
Rating
Current Price
$114.02
Fair Value
Economic Moat
Stewardship
Summary

Intercontinental Exchange is a vertically integrated operator of financial exchanges and provides ancillary data products. Though the company is probably best known for its ownership of the New York Stock Exchange, which it acquired in 2013, ICE operates a large derivatives exchange, too. The company's largest commodity futures product is the ICE Brent crude futures contract. In addition to the exchanges business, which is about 55% of net revenue, Intercontinental Exchange has used a series of acquisitions to create its mortgage technology business (18% of net revenue) and fixed-income and data-services segment (27% of net revenue).

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