ICE Cash Equity Volumes Decline In September

In contrast to the growing trading volumes in the first half of the year, IntercontinentalExchange saw a 7.4% year on year (y-o-y) decline in its cash equity daily trading volumes in September.  A dip in volumes is attributable to an industry-wide decline in U.S. cash equity daily volumes, coupled with a slight decline in NYSE’s market share in cash equities. Further, a 6% decline in the average contract rate is likely to affect the revenue from this segment.

Going forward, we expect growth in cash equity volumes, driven by continued volatility in the financial markets. However, ICE’s market share is expected to remain flat owing to tough competition from established players as well as the newly launched Investors Exchange. The table below breaks down these figures for the month:

See the full Trefis analysis for Intercontinental Exchange

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