ICE Earnings Preview: Trade Volumes, Data Service Segment To Drive Q1 Results

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ICE: Intercontinental Exchange logo
ICE
Intercontinental Exchange

IntercontinentalExchange Group (NYSE:ICE) is scheduled to announce its first quarter fiscal 2016 earnings on Wednesday, May 4. The exchange operator started the year on a good note, with daily trade volumes up 5% year on year (y-o-y) to 5 million contracts per day, primarily due to a rise in average daily volumes (ADVs) of equities (+12% y-o-y), interest rate contracts (+9%) and agricultural products & metals (+13% y-o-y). Moreover, NYSE’s cash equity and equity option volumes were also up 16% and 13% on a year-on-year basis, respectively. Consequently, we expect ICE’s transaction-based revenues to increase in the quarter. In terms of non-transaction businesses, the company expects data revenues to grow to $470 million – $480 million in the first quarter of 2016 as ICE continues to use IDC’s technology and expertise to leverage the fixed income markets, along with benefiting from new customer relationships.

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Notes:
1) The purpose of these analyses is to help readers focus on a few important things. We hope such lean communication sparks thinking, and encourages readers to comment / ask questions on the comments section
2) Figures mentioned are approximate values to help our readers remember the key concepts more intuitively. For precise figures, please refer to the full Trefis analysis for Intercontinental Exchange.

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