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LONDON--(BUSINESS WIRE)--Intercontinental Exchange, Inc. (NYSE:ICE), a leading provider of financial market technology and data powering global capital markets, today announced the expansion of its Value-at-Risk (VaR)-based portfolio margining methodology, ICE Risk Model 2 (IRM 2), to ICE’s interest rate and fixed income derivatives complex.

ICE’s U.K. and European interest rate and fixed income futures and options, including Euribor, €STR, SONIA, SARON, and Gilts, plus key related spread contracts, join more than 1,300 contracts already margined under IRM 2 across ICE’s energy and financial markets.

“Bringing interest rates onto IRM 2 is the next major step in rolling out our new risk model,” said Hester Serafini, President of ICE Clear Europe. “Margin should reflect the risk of positions a member holds, so IRM 2 looks at the whole portfolio and measures risk with greater precision, giving credit where exposures offset one another. Backed by our continued investment in clearing and risk technology, IRM 2 adapts as markets move, and we thank our customers for their continued trust and collaboration.”

“The move to IRM 2 comes during a record year for ICE’s interest rate products,” said Caterina Caramaschi, VP of Financial Derivatives at ICE. “Diverging central bank policy paths are driving demand for more sophisticated risk tools. Rates exposures across currencies and tenors move in relation to one another, and clients need a margin model that reflects those relationships. With IRM 2, clients can manage multi-currency interest rate risk on ICE with greater capital efficiency.”

IRM 2 uses anti-procyclical features to avoid “big step” margin changes while remaining resilient in stress events, and its Filtered Historical Simulation VaR approach captures diversification across related benchmarks and currencies.

In addition, ICE has broadened its multi-currency rates offering this year with new STIR futures covering Japanese, Swedish, Norwegian, South African and Australian markets, and these contracts will migrate to IRM 2 in due course.

Across ICE’s interest rates and fixed income complex, open interest is up 23% year-over-year, while average daily volume is up 47% year-to-date.

For more information on IRM 2, please visit: www.ice.com/clearing/margin-models/irm-2.

About Intercontinental Exchange

Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds, and operates digital networks that connect people to opportunity. We provide financial technology and data services across major asset classes helping our customers access mission-critical workflow tools that increase transparency and efficiency. ICE’s futures, equity, and options exchanges -- including the New York Stock Exchange -- and clearing houses help people invest, raise capital and manage risk. We offer some of the world’s largest markets to trade and clear energy and environmental products. Our fixed income, data services and execution capabilities provide information, analytics and platforms that help our customers streamline processes and capitalize on opportunities. At ICE Mortgage Technology, we are transforming U.S. housing finance, from initial consumer engagement through loan production, closing, registration and the long-term servicing relationship. Together, ICE transforms, streamlines, and automates industries to connect our customers to opportunity.

Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located here. Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading “Key Information Documents (KIDS).”

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 -- Statements in this press release regarding ICE's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2025, as filed with the SEC on February 5, 2026.

Category: Exchanges

SOURCE: Intercontinental Exchange

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NEW YORK--(BUSINESS WIRE)--The New York Stock Exchange, part of Intercontinental Exchange, Inc. (NYSE: ICE), one of the world's leading providers of financial market technology and data powering global capital markets, today introduced NYSE American Options Extended Trading Hours (“ETH”), giving market participants additional access to options listed on NYSE American. The initial group of eligible symbols includes options overlying key macroeconomic-focused ETFs such as SPY, IWM, and GLD and op.

A diversified product portfolio and expanding revenue streams continue to support growth for players in the Zacks Securities and Exchanges industry. Higher trading volumes, strategic acquisitions, product innovation and growing adoption of cryptocurrencies are expected to benefit S&P Global (SPGI - Free Report) , CME Group (CME - Free Report) , Intercontinental Exchange (ICE - Free Report) , Nasdaq Inc. (NDAQ - Free Report) and Cboe Global Markets (CBOE - Free Report) . Increasing emphasis on non-trading revenues, including market technology, listings and information services, is strengthening business diversification and providing more stable income streams. Rising retail investor participation also presents growth opportunities. However, shifting investment preferences, evolving regulatory requirements and heightened cybersecurity threats remain key challenges amid the rapid digitization of financial markets.

Meanwhile, mergers, acquisitions and strategic alliances are reshaping the competitive landscape. Industry participants are pursuing consolidation to expand market reach, enhance technological capabilities, diversify offerings and strengthen competitive positioning. According to Deloitte, exchanges are increasingly turning to consolidation to navigate evolving technological, regulatory and competitive dynamics, supporting long-term innovation and operational efficiency.

About the Industry The Zacks Securities and Exchanges industry includes companies operating electronic marketplaces that enable trading in stocks, options, bonds and commodity contracts across multiple asset classes and geographies. These companies earn revenues from trading activities and fees charged to listed entities. They also offer a broad range of data, analytics and listing services to global financial and commodity markets. Their offerings include pricing and reference data, market data feeds, index services, investment and risk management solutions, desktop platforms, connectivity services, and corporate and ETF listings on cash equity exchanges. The growing adoption of crypto assets is creating additional growth opportunities for industry participants. However, stringent regulatory requirements and evolving compliance standards continue to pose operational challenges.

4 Trends Shaping the Future of the Securities and Exchanges Industry Market Volatility Boosts Trading Activity: Industry players generate revenues primarily from trade execution, clearing, settlement, listings and trading technology. Heightened market volatility generally boosts trading volumes and transaction-based revenues. Increasing cryptocurrency adoption and a potentially favorable regulatory environment could further support trading activity. Exchanges are also expanding into tokenization, stablecoins and digital payments, bridging traditional financial markets with blockchain technology. Meanwhile, rising derivatives trading and growing demand for exchange-traded funds (ETFs), particularly index-linked products, provide additional growth opportunities. Technavio projects the global securities exchanges market to reach $49.6 billion by 2028, registering a 12.1% CAGR. However, lower volatility could dampen trading volumes and transaction revenues.

Intense Competition: Traditional exchanges face growing competition from alternative trading systems, off-exchange market makers, newly launched exchanges and digital-asset platforms. These rivals compete aggressively through lower fees, liquidity incentives, faster execution and specialized products. As trading activity spreads across more venues, liquidity fragmentation can reduce the market share and pricing power of established exchanges while increasing the cost and complexity of maintaining competitive technology and connectivity.

Diversification Into Other Recurring Revenue Sources:  Securities exchanges are increasingly prioritizing recurring revenue streams to reduce dependence on volatile trading activity and improve earnings stability. Subscription-based market data, listings, clearing, technology platforms and risk management solutions provide predictable cash flows and support sustainable growth. Rising demand for market intelligence, regulatory compliance, ESG solutions and digital asset infrastructure is creating additional revenue opportunities. Industry participants are expanding their non-trading businesses to strengthen operational scalability, enhance margins and diversify their revenue mix. Greater emphasis on monetizing proprietary market data through feeds, analytics and subscription services is further reinforcing business resilience and supporting long-term profitability.

Continuous Investment in Technology, AI in Particular: Industry players are intensifying technology investments to enhance competitiveness and adaptability. There is growing emphasis on creating strategic market models through advanced tools, especially AI, while continually upgrading products and services. Exchanges are increasingly leveraging AI and blockchain to strengthen efficiency and resilience. Recent advancements use machine learning, automation and algorithms to improve trading accuracy, reduce cyber threats and limit human errors, thereby accelerating trading speed. Moreover, industry players are focusing on automating non-trading operations, which significantly contribute to revenue generation and support sustainable long-term growth.

Zacks Industry Rank Indicates Bleak Prospects The Zacks Securities and Exchanges industry is housed within the broader Zacks Finance sector. It carries a Zacks Industry Rank #166, which places it in the bottom 33% of the 247 Zacks industries.

The group’s Zacks Industry Rank, which is basically the average of the Zacks Rank of all the member stocks, reflects dull near-term prospects. Our research shows that the top 50% of the Zacks-ranked industries outperforms the bottom 50% by a factor of more than 2 to 1.

The industry’s positioning in the bottom 50% of the Zacks-ranked industries is a result of a negative earnings outlook for the constituent companies in aggregate. Looking at the aggregate earnings estimate revisions, it appears that analysts have been losing confidence in this group’s earnings growth potential. Estimates for 2026 have decreased 3% since this June.

Before we present a few securities and exchanges stocks worth considering for your portfolio, let’s take a look at the industry’s recent stock-market performance and valuation picture.

Industry Underperforms Sector and S&P 500 The Zacks Securities and Exchanges industry has underperformed the broader Zacks Finance sector as well as the Zacks S&P 500 composite year to date.

The industry has lost 9% against the broader sector’s increase of 3.3% and the Zacks S&P 500 composite’s rise of 7.9% in the said time frame.

Year-to-Date Price Performance

Industry's Current Valuation On the basis of trailing 12-month price-to-earnings (P/E), which is commonly used for valuing exchange stocks, the industry is currently trading at 20.27X compared with the S&P 500’s 18X and the sector’s 16.03X.

Over the last five years, the industry has traded as high as 29.62X, as low as 17.59X and at the median of 23.94X, as the chart below shows.

12-Month Forward Price-to-Earnings (P/E) Ratio12-Month Forward Price-to-Earnings (P/E) Ratio 

5 Securities and Exchanges Stocks to Keep An Eye On We are presenting five Zacks Rank #3 (Hold) stocks from the Securities and Exchanges industry. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Nasdaq: Headquartered in New York, Nasdaq is a leading provider of trading, clearing, marketplace technology, regulatory, securities listing, information, and public and private company services. Its strategy of accelerating its non-trading revenue base, successfully maximizing opportunities as a technology and analytics provider, growing core marketplace businesses and intensifying its focus on Market Technology and Information Services businesses should continue to drive Nasdaq.

The Zacks Consensus Estimate for 2026 and 2027 earnings per share indicates an increase of 18.7% and 13.4%, respectively, year over year. NDAQ came up with a four-quarter average earnings surprise of 5.67%. The expected long-term earnings growth rate is pegged at 13.6%, better than the industry average of 12.1%.

Price and Consensus: NDAQ

Cboe Global Markets: Based in Chicago, IL, Cboe Global is one of the largest stock exchange operators by volume in the United States and globally for ETP trading. This company is poised for growth, given its expanding product line across asset classes, broadening geographic reach and a diversifying business mix with recurring revenues and technology.

The Zacks Consensus Estimate for the company’s 2026 and 2027 EPS indicates a year-over-year increase of 30.4% and 6%, respectively. The expected long-term earnings growth rate is pegged at 15.9%, better than the industry average. The consensus mark for 2026 and 2027 earnings has moved 0.3% and 0.5% north, respectively, in the past 30 days. It came up with a four-quarter average earnings surprise of nearly 5.35%.

Price and Consensus: CBOE

CME Group: Headquartered in Chicago, IL, CME Group is the largest futures exchange in the world in terms of trading volume as well as notional value traded. Its efforts to expand future products in emerging markets, non-transaction-related opportunities, OTC offerings, cross-selling through alliances, global presence and liquidity should drive growth.

The Zacks Consensus Estimate for the company’s 2026 and 2027 EPS indicates a year-over-year increase of 9.7% and 4.7%, respectively.  It came up with a four-quarter average earnings surprise of 1.27%. The expected long-term earnings growth rate is pegged at 6.2%. The consensus mark for 2026 and 2027 earnings has moved 2 cents and 5 cents north, respectively, in the past 30 days.

Price and Consensus: CME

Intercontinental Exchange: This Atlanta, GA-based company is a leading global operator of regulated exchanges, clearing houses and listings venues and a provider of data services for commodity, financial, fixed-income and equity markets. Its compelling portfolio, expansive risk-management services, strategic buyouts and a solid balance sheet bode well. It is the second-largest global fixed-income provider. This company, with the largest mortgage network across the United States, remains well-positioned to benefit from accelerated digitization in the U.S. residential mortgage industry.

The Zacks Consensus Estimate for the company’s 2026 and 2027 EPS indicates a year-over-year increase of 17.8% and 8.9%, respectively.  It came up with a four-quarter average earnings surprise of 3.44%. The expected long-term earnings growth rate is pegged at 12.9%.

Price and Consensus: ICE

S&P Global: Headquartered in New York, S&P Global is a leading provider of transparent and independent ratings, benchmarks, analytics and data to the capital and commodity markets worldwide. Recurring benchmark revenues, rising AI adoption and targeted acquisitions support long-term growth, while the Mobility spin has sharpened the portfolio. Productivity gains are improving margins and buybacks and dividends support per-share returns.

The Zacks Consensus Estimate for the company’s 2026 EPS indicates a year-over-year decrease of 0.6%, while that for 2027 indicates a year-over-year increase of 12.8%.  It came up with a four-quarter average earnings surprise of 4.43%. The expected long-term earnings growth rate is pegged at 11.6%.

Price and Consensus: SPGI

Investors traded a record volume of ICE Brent options contracts in the third quarter as they ​rushed to hedge their positions in the volatile oil ‌price environment, the Intercontinental Exchange said on Tuesday.

A record 28 million Brent options contracts traded in the third quarter of 2026 ​on the Intercontinental Exchange. Daily average volumes also hit ​a record of more than 437,200 contracts, up ⁠63% year-on-year.

Hedges, contracts that can be used to lock in ​prices, provide traders opportunities to profit in times of volatility, ​and can help producers reduce risk and protect their production from sharp moves in the market.

Investors traded 75.1 million ICE Brent options contracts ​between January and September this year, already exceeding the ​total for all of 2025, when 62.2 million contracts traded.

ICE Brent ‌options ⁠open interest was up 18% year-over-year at 4 million contracts.

Average daily volume was up 23% year-to-date across ICE Brent futures and options markets.

Between July and September, Brent crude futures ​hit a low ​of $70 a ⁠barrel on July 2 and a high of $110 on September 11, according to LSEG, a $40 ​range. In comparison, Brent crude futures traded ​within a ⁠much narrower range of around $9 a barrel in the third quarter of 2025.

Global benchmark Brent serves as the price ⁠barometer for ​more than three-quarters of globally ​traded crude and underpins more than 800 futures and options contracts, according to ​ICE.

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NEW YORK--(BUSINESS WIRE)--NYSE today reported short interest as of the close of business on the settlement date of September 30, 2026.

SETTLEMENT DATE

EXCHANGE

TOTAL CURRENT
SHORT INTEREST

TOTAL PREVIOUS
SHORT INTEREST
(Revised)

NUMBER of
SECURITIES with a
SHORT POSITION

NUMBER of
SECURITIES with a
POSITION >= 5,000
SHARES

09/30/2026

NYSE

19,919,374,573

19,376,663,706

2,901

2,561

09/30/2026

NYSE ARCA

2,396,277,790

2,305,483,600

2,721

1,861

09/30/2026

NYSE AMERICAN

1,084,163,115

1,073,715,040

301

260

09/30/2026

NYSE GROUP

23,399,815,478

22,755,862,346

5,923

4,682

*NYSE Group includes NYSE, NYSE American and NYSE Arca

Reports will be archived here.

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Key Takeaways ICE's Exchange revenues rose 3% to $1.46 billion, despite a 13% decline in energy revenues. Exchange recurring revenues grew 10%, supported by strong financials, equities, options and data growth. ICE's diversified markets and record open interest could help sustain growth beyond short-term volatility. Intercontinental Exchange, Inc. (ICE - Free Report) appears capable of sustaining solid exchange growth even as market volatility normalizes, although the pace may moderate from the unusually strong volume environment. The key is that ICE’s growth is becoming less dependent on short-term volatility and more diversified across asset classes, recurring data revenues and open interest.

In the second quarter of 2026, ICE’s Exchange segment revenues increased 3% year over year to $1.46 billion, despite energy revenues declining 13%. Growth was supported by financials (+21%), cash equities and equity options (+15%), OTC and other (+15%) and data/connectivity services (+12%). Importantly, exchange recurring revenues rose 10%, providing a more stable growth base than transaction-driven activity.

Volume trends also suggest that ICE can maintain momentum beyond a volatility spike. In the second quarter of 2026, financials average daily volume increased 22%, interest-rate ADV rose 24%, agriculture and metals ADV jumped 36%, while NYSE cash-equity ADV increased 12% and equity-options ADV surged 44%. Record open interest and rising participation indicate that customers are increasingly using ICE markets for ongoing risk management rather than only reacting to short-lived volatility.

ICE’s diversified product mix is another important cushion. ICE has exposure to energy, agriculture, interest rates, equity derivatives, cash equities and data services. Thus, normalization in one area does not necessarily translate into a broad decline in exchange revenues. In addition, ICE guided to high-single-digit growth in 2026 Exchange recurring revenues, highlighting management’s confidence in the durability of the business.

For ICE, the growing contribution from recurring exchange revenues and its broad asset-class footprint make the growth outlook more resilient than a pure trading-volume story.

What About Its Peers?CME Group Inc. (CME - Free Report) appears well positioned to sustain strong trading growth even as market volatility eventually normalizes, although the pace of volume expansion could moderate from elevated levels. In the second quarter of 2026, CME benefited from robust activity across interest rates, equity indexes, energy, metals and agricultural products, with average daily volume supported by heightened demand for hedging and risk management. CME’s broad product diversification, record open interest, growing international participation and increasing adoption of derivatives should provide a structural cushion.

Cboe Global Markets, Inc. (CBOE - Free Report) appears capable of sustaining healthy trading growth even as market volatility normalizes, although the pace could moderate from elevated levels. In the second quarter of 2026, Cboe benefited from strong options activity, particularly in its flagship S&P 500 index options and growing 0DTE options franchise. Cboe’s diversified product portfolio across options, futures, equities, FX and global markets, along with expanding retail participation and demand for short-dated options, should provide some cushion.

ICE’s Price PerformanceShares of ICE have lost 3.7% in the past year, outperforming the industry.

Image Source: Zacks Investment Research

ICE’s UndervaluationThe stock is undervalued compared with its industry. It is currently trading at a price-to-earnings multiple of 17.76, lower than the industry average of 19.82.

Image Source: Zacks Investment Research

Estimate Movement for ICEThe Zacks Consensus Estimate for ICE’s third-quarter and fourth-quarter 2026 EPS has both moved up 1% and 0.5%, respectively, in the past 30 days. The same for full-year 2026 and 2027 EPS has moved up 0.5% and 0.6%, respectively, in the past 30 days.

Image Source: Zacks Investment Research

(Kitco News) – The world’s largest physical gold trading market now has new futures contracts run by the world’s largest precious metals futures exchange.

This week, the Intercontinental Exchange (ICE) – owner of the New York Stock Exchange –launched exchange-traded precious metal futures trading in London. The contracts are directly linked to London's daily gold price auctions, and the exchange has also launched futures contracts for silver, platinum and palladium. The new ICE contracts give market participants an exchange-based means to trade precious metals price exposure from London.

London’s physical gold trading dwarfs that of any other global market, with daily over-the-counter transactions in the area of $190 billion, while the city's vaults hold approximately $1.4 trillion in gold bullion. Unlike New York, which has had well-established gold futures trading, London has not had a major gold futures market in many years despite its dominant position in the physical bullion market.

Previous attempts to establish gold futures trading in London did not last. The London Gold Futures Market was launched in 1982 but shut down only three years later after failing to attract a critical mass of trading activity. Then in 2017, the London Metal Exchange launched their own gold futures, but the contract was eventually discontinued in 2022.

ICE's latest attempt leverages its existing role in London's physical metals market, as the exchange already operates the daily auctions that set the benchmark prices for gold, silver, platinum and palladium.

See live precious metals prices for gold, silver, platinum and palladium — in USD, CAD and 12 more currencies. 

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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ATLANTA & NEW YORK--(BUSINESS WIRE)--Intercontinental Exchange, Inc. (NYSE:ICE), one of the world’s leading providers of financial market technology and data powering global capital markets, today reported September 2026 trading volume and related revenue statistics, which can be viewed on the company’s investor relations website at https://ir.theice.com/ir-resources/supplemental-information in the Monthly Statistics Tracking spreadsheet.

“ICE's markets are built to give customers the tools they need to navigate uncertainty, whatever shape it takes,” said Ben Jackson, President of ICE. “For over 25 years, we've designed a matrix of contracts to help customers manage that complexity all over the world. Whether it's financial markets, agriculture or energy, we have a contract for nearly every way risk shows up for our customers. In energy alone, the depth and breadth of our contracts continues to drive growth across our platform, including a new quarterly volume record for Brent options. As customer needs change, so does our approach to giving them the precise tools they need to manage their risk.”

September highlights include:

Total average daily volume (ADV) up 51% y/y; open interest (OI) up 13% y/y Total Energy ADV up 26% y/y; OI up 4% y/y Total Oil ADV up 29% y/y Brent ADV up 51% y/y Gasoil ADV up 25% y/y Total Natural Gas ADV up 24% y/y; OI up 8% y/y North American Gas ADV up 16%; OI up 7% y/y TTF gas ADV up 50% y/y; OI up 17% y/y Asia gas ADV up 38% y/y; OI up 31% y/y Total Agriculture & Metals ADV up 44% y/y; OI up 43% y/y Sugar ADV up 44% y/y; OI up 42% y/y, including record OI of 2.5M lots on September 11 Cocoa ADV up 53% y/y; OI up 69% y/y Cotton ADV up 135% y/y; OI up 69% y/y Total Financials ADV up 81% y/y; OI up 27% y/y, including record futures OI of 17.5M lots on September 10 Total Interest Rates ADV up 95% y/y; OI up 30% y/y, including record futures OI of 15M lots on September 10 Euribor ADV up 84% y/y; OI up 16% y/y, including record futures OI of 6M lots on September 10 SONIA ADV up 119% y/y; OI up 48% y/y Gilts ADV up 37% y/y; OI up 3% y/y Total Equity Indices ADV up 5% NYSE Equity Options ADV up 24% y/y Third quarter highlights include:

Total ADV up 31% y/y Total Energy ADV up 18% y/y Oil ADV up 19% y/y Brent ADV up 38% y/y Gasoil ADV up 18% y/y Natural Gas ADV up 17% y/y North American Gas ADV up 9% y/y TTF Gas ADV up 39% y/y Asia Gas ADV up 45% y/y Total Agriculture & Metals ADV up 57% y/y Sugar ADV up 75% y/y Coffee ADV up 14% y/y Cocoa ADV up 68% y/y Cotton ADV up 88% y/y Total Financials ADV up 45% y/y Total Interest Rates ADV up 49% y/y Euribor ADV up 40% y/y SONIA ADV up 63% y/y Gilts ADV up 16% y/y Total Equity Indices ADV up 12% y/y MSCI ADV up 15% y/y NYSE Equity Options ADV up 29% y/y About Intercontinental Exchange

Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds, and operates digital networks that connect people to opportunity. We provide financial technology and data services across major asset classes helping our customers access mission-critical workflow tools that increase transparency and efficiency. ICE’s futures, equity, and options exchanges -- including the New York Stock Exchange -- and clearing houses help people invest, raise capital and manage risk. We offer some of the world’s largest markets to trade and clear energy and environmental products. Our fixed income, data services and execution capabilities provide information, analytics and platforms that help our customers streamline processes and capitalize on opportunities. At ICE Mortgage Technology, we are transforming U.S. housing finance, from initial consumer engagement through loan production, closing, registration and the long-term servicing relationship. Together, ICE transforms, streamlines, and automates industries to connect our customers to opportunity.

Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located here. Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading “Key Information Documents (KIDS).”

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 -- Statements in this press release regarding ICE's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2025, as filed with the SEC on February 5, 2026.

Category: Corporate

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Key Takeaways Intercontinental Exchange leads Coinbase on growth projections, price appreciation and valuation.ICE's 2026 revenue & EPS estimates imply 10.7% and 16.8% growth, respectively.ICE's diversified exchanges & data, clearing and workflow portfolios support performance across market cycles. Increased volatility, supportive U.S. economic policies, higher acceptance of digital assets, continued efforts by exchange players to go beyond trading activity and increased retail trading are factors that will shape the future of exchanges. In this evolving landscape, let’s find out which company is better positioned for long-term growth — Coinbase Global Inc. (COIN - Free Report) or Intercontinental Exchange (ICE - Free Report) ?

Coinbase, the largest regulated cryptocurrency exchange in the United States, is well-positioned to capitalize on increased market volatility and rising digital asset valuations.

On the other hand, Intercontinental Exchange is a leading global operator of regulated exchanges. It is set to grow on a solid portfolio, a wide range of risk management services, cost synergies and a solid capital position.

The Case for COINCoinbase is advancing its ambition to become an “everything exchange,” offering round-the-clock access to digital assets, commodities, equities and derivatives through a unified platform. Recent initiatives include launching regulated derivatives in Canada, expanding its Webull partnership for crypto trading and custody services, and collaborating with Moov to bring stablecoin payment and custody infrastructure to community banks and credit unions. Its expanded partnership with Citigroup further highlights the growing adoption of stablecoins in mainstream institutional payments.

The company also received CFTC approval for Coinbase Clearing LLC, completing its U.S. derivatives infrastructure across an exchange, futures commission merchant and derivatives clearing organization. This strengthens Coinbase’s ability to build a vertically integrated domestic derivatives platform.

Prediction markets, international expansion and tokenized assets provide additional growth avenues and support diversification beyond traditional crypto trading. Coinbase operates across several major international markets and has selected Chainlink as the oracle infrastructure for its tokenized equities. Its partnership with Better Mortgage also introduced a nationwide conforming mortgage product backed by crypto assets.

In 2026, management plans to focus on real-world-asset perpetuals, specialized exchanges, advanced trading products, decentralized finance infrastructure, and opportunities tied to artificial intelligence and robotics. Coinbase also maintains strong liquidity and relatively modest leverage.

However, results remain highly sensitive to cryptocurrency prices and trading activity. Rising operating expenses, impairment charges and restructuring costs can further pressure profitability during downturns. In the last reported quarter, softer consumer trading reduced transaction revenues, while lower crypto prices weighed on assets held on the platform and overall earnings.

The Case for ICEIntercontinental Exchange benefits from a diversified portfolio spanning exchanges, market data, clearing and workflow solutions across major asset classes, reducing its dependence on any single activity driver and supporting performance across market cycles. The planned MarketAxess acquisition further strengthens ICE’s network strategy by adding institutional credit execution capabilities that complement its retail and wealth distribution, pricing, indices, analytics and clearing businesses.

Mortgage Technology is also positioned to benefit from recovering transaction volumes, while continued client implementations should support recurring revenues. At the same time, ICE is expanding the value of its proprietary datasets by embedding them into client decision-making tools.

 The enhanced ICE Model Context Protocol provides governed access to proprietary data within institutional AI workflows, while ICE Compass leverages pricing and transaction data for pre-trade fixed-income analytics. Early client engagement with AI-driven workflows could deepen data usage and broaden distribution while preserving ICE’s recurring-revenue model.

ICE’s investment in Polymarket also provides exposure to the emerging prediction-market ecosystem. The stake could create synergies with ICE’s exchange and data capabilities, expand market-intelligence offerings and open additional revenue opportunities as the regulatory framework evolves.

However, operating expenses have risen in recent years, constraining margin expansion. Continued spending on technology and product development could keep costs elevated in the near term. Although debt has declined, leverage and interest-coverage metrics remain weaker than industry averages.

Estimates for COIN and ICEThe Zacks Consensus Estimate for COIN’s 2026 revenues implies a 27.1% year-over-year decrease and that for EPS implies a 111.9% year-over-year decrease.  However, EPS estimates have moved north over the past 30 days. The expected long-term earnings growth rate is pegged at 10%
 

Image Source: Zacks Investment Research

The Zacks Consensus Estimate for ICE’s 2026 revenues implies a 10.7% increase and that for EPS indicates a 16.8% year-over-year increase. Estimates witnessed upward movement over the past seven days. The expected long-term earnings growth rate is pegged at 12.7%

Image Source: Zacks Investment Research

Price Performance of COIN and ICECOIN shares have gained 10.7% in the past three months, while ICE shares have gained 11.5% in the same time.

Image Source: Zacks Investment Research

Are COIN and ICE Shares Expensive?Coinbase is trading at a forward 12-month price-to-earnings multiple of 80.58, higher than its median of 55.85 over the past three years. ICE’s forward 12-month price-to-earnings multiple sits at 17.38, lower than its median of 22 over the past three years.

Image Source: Zacks Investment Research

Conclusion    Coinbase benefits from a well-diversified revenue base that includes trading fees, staking, custodial services and derivatives, all bolstered by growing institutional demand. This crypto leader is leaving no stone unturned to be a one-stop destination for trading digital assets or providing financial services related to crypto or digital assets.

Compelling portfolio, broad range of risk management services, timely achievement of cost synergies and solid capital position strengthen ICE's growth. Its dividend history is impressive. It has more than doubled its dividends in the last six years.

Both COIN and ICE carry a Zacks Rank #3 (Hold). Growth projections, price appreciation and valuation give ICE an edge over COIN.

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

SummaryA $5 million portfolio can fund early retirement, but only with disciplined spending, inflation protection, and strategic asset allocation.Spending needs, inflation risk, and sequence of returns risk must be stress-tested for any retirement plan, regardless of portfolio size.Yield alone is insufficient; blending T-bills, TIPS, growth-yield equities like MPLX, and low-payout growers like ICE is essential.Flexibility, a cash buffer, and willingness to adjust spending are critical to long-term retirement success in uncertain markets.Looking for a helping hand in the market? Members of Main Street Alpha get exclusive ideas and guidance to navigate any climate. Learn More » Alistair Berg/DigitalVision via Getty Images

Introduction Money is not everything, but it sure keeps you in touch with your children - A silly retirement joke I once read somewhere

My title today is somewhat provocative. I am fully aware of

51.79K Followers

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Shares of Canlan Ice Sports Corp. (TSE:ICE – Get Free Report) crossed below its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of C$4.26 and traded as low as C$4.15. Canlan Ice Sports shares last traded at C$4.15, with a volume of 1,000 shares trading hands.

Canlan Ice Sports Stock Down 0.2% The firm has a market capitalization of C$55.35 million, a price-to-earnings ratio of 13.83 and a beta of -0.09. The business’s 50-day moving average is C$4.29 and its two-hundred day moving average is C$4.26. The company has a debt-to-equity ratio of 124.71, a quick ratio of 0.56 and a current ratio of 0.65.

Canlan Ice Sports (TSE:ICE – Get Free Report) last issued its quarterly earnings data on Thursday, August 13th. The company reported C($0.03) earnings per share (EPS) for the quarter. Canlan Ice Sports had a net margin of 3.92% and a return on equity of 10.16%. The firm had revenue of C$24.91 million for the quarter.

(Get Free Report) Canlan Sports is the North American leader in the operations and ownership of multi-purpose recreation and entertainment facilities. We are amongst the largest private sector owners and operators of recreation facilities in North America and currently own, lease and/or manage 15 facilities in Canada and the United States with 47 ice surfaces, as well as 10 indoor soccer fields, and 18 hard court surfaces. To learn more about Canlan please visit www.canlansports.com.

Further Reading Five stocks we like better than Canlan Ice Sports CarMax Just Gave Investors a Better Reason to Believe in the Turnaround CoreWeave Comes With Risks: Analysts Split on What Matters Most Bottlenecking the Future: TSMC Prices Out the Competition Fervo Energy Hits Geothermal Milestone: Will It Matter For The Stock? Receive News & Ratings for Canlan Ice Sports Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canlan Ice Sports and related companies with MarketBeat.com's FREE daily email newsletter.

ATLANTA & NEW YORK--(BUSINESS WIRE)--Intercontinental Exchange, Inc. (NYSE: ICE), one of the world's leading providers of financial market technology and data powering global capital markets, today released the August 2026 ICE First Look at mortgage delinquency, foreclosure and prepayment trends. Key takeaways from this month's findings include: National delinquency rate rose on calendar effects: The national delinquency rate rose 14 basis points (bps) to 3.53% in August but was effectively fla.

23.9.2026 16:27, PAYX, MRNA, APP

Index Dow Jones -0,06 % na 51830,74 b. S&P 500 -0,48 % na 7727,62 b. Nasdaq Composite -0,99 % na 26974,87 b.

Nejsledovanější americké indexy v úvodu středečního obchodování ztrácejí, zatímco se ceny ropy stabilizují a trhy vyhlížejí schůzku mezi Trumpem a Si Ťin-pchingem.

Daří se akciím farmaceutické společnosti Moderna (+3,3 %), které tak navazují na růst z předchozího dne. Společnost již v pondělí oznámila, že v říjnu představí data ke své personalizované vakcíně proti rakovině.

Naopak ztrácejí akcie společnosti Paychex (-8,6 %), poskytující mzdové a HR služby pro malé a střední firmy, po reportu výsledků za 1Q FY 2027. Výnosy vzrostly meziročně o 5,9 % a dosáhly 1,63 mld. USD podle očekávání, očištěný zisk na akcii činil 1,34 USD při konsensu 1,32 USD. Podle agentury Bloomberg za poklesem stojí skutečnost, že výnosy v segmentu Management Solutions zaostaly za odhady analytiků.

Nedaří se ani technologické společnosti AppLovin (-6,1 %), která provozuje reklamní platformu, přes kterou inzerenti oslovují uživatele mobilních aplikací, poté, co analytik Joe Wittine z Edgewater Research uvedl, že nedávné průzkumy trhu a distribučních kanálů ukázaly zpomalení růstu tržního podílu této platformy. Wittine předpovídá mezikvartální růst výnosů AppLovinu ve čtvrtém kvartále mezi 8 a 9 %, což zaostává za dřívějšími očekáváními Wall Streetu. Podle analytika už ukazatele podílu na výdajích klientů a podílu na reklamním prostoru ze svých současných úrovní soustavně nerostou. Důvodem je podle něj především to, že podíl platformy MAX pravděpodobně narazil na svůj funkční strop.

Potravinářská společnost General Mills (-1,2 %) zveřejnila výsledky za 1Q a potvrdila celoroční výhled. Více podrobností naleznete zde.

Index S&P 500 -0,48 % na 7727,62 b. Nejsilnější sektory S&P Změna Nejslabší sektory S&P Změna Energie +1,8 % Zbytná spotřeba -1,5 % Finanční sektor +0,5 % Komunikační služby -1,5 % Průmysl +0,4 % Utility -1,4 % Nejsilnější akcie S&P Změna Nejslabší akcie S&P Změna Universal Health Services (UHS) +3,7 % Paychex (PAYX) -8,6 % Moderna (MRNA) +3,3 % Expedia Group (EXPE) -6,6 % Devon Energy Corp (DVN) +3,3 % AppLovin Corp (APP) -6,1 % Intercontinental Exchange (ICE) +2,8 % GoDaddy (GDDY) -5,3 % APA Corp (APA) +2,8 % Monolithic Power Systems (MPWR) -5,0 % Zdroj: Bloomberg, Yahoo Finance

Michal Bárta
Fio banka, a.s.
Prohlášení

ATLANTA & NEW YORK--(BUSINESS WIRE)--Intercontinental Exchange, Inc. (NYSE: ICE), one of the world's leading providers of financial market technology and data powering global capital markets, today announced the launch of a new reference data service for private credit instruments. The new service builds on the recent launch of ICE IDs, which are the first foundational identifiers for private credit. As the private credit market has scaled, the data infrastructure supporting it has not kept pac.

ATLANTA & NEW YORK--(BUSINESS WIRE)--Intercontinental Exchange, Inc. (NYSE: ICE), one of the world's leading providers of financial market technology and data powering global capital markets, today released the September 2026 ICE Mortgage Monitor Report. The analysis finds that while insurance costs reached another record high in the second quarter, the pace of growth is beginning to moderate, and homeowners who shopped for coverage found meaningful opportunities to save. “Property insurance ha.

Intercontinental Exchange is upgraded to a buy, supported by improved valuation and bullish technicals. Q2 results showed 5% YoY revenue growth, record recurring revenues, and a 61% adjusted operating margin. ICE's $6B MarketAxess acquisition targets $100M in cost synergies and enhances fixed income capabilities.

Bill Ackman just placed a major bet on the owner of the New York Stock Exchange, arguing that investors have the AI threat to this business exactly backwards.

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Bill Ackman’s Pershing Square disclosed in its 2Q26 letter to shareholders that it initiated a new position in Intercontinental Exchange (NYSE:ICE | ICE Price Prediction), the owner of the New York Stock Exchange. The letter argued that ICE shares had fallen over the year before the purchase while the earnings multiple contracted sharply, and that investors overestimated both the threat AI poses to the company’s data and mortgage technology businesses and the danger perpetual futures pose to its exchanges.

Pershing initiated the position after the letter’s quarter-end date, so the decline and the multiple describe the purchase context as of that period. ICE closed at $161.26 on September 4, up 7.62% over the past month but down 6.41% over the last year.

Why the Business Gets Stronger as Markets Automate The New York Stock Exchange is the recognizable entry point, but in most cases it sits within futures, clearing, and data. Automated participants still need a regulated venue to trade on, a price feed to trade against, and a clearinghouse to stand behind the trade.

ICE’s second quarter carried the point. Recurring revenue reached $1.35 billion, up 8%, and Fixed Income and Data Services net revenue grew 8% to $645 million. Management raised full-year recurring-revenue guidance for that segment to 7% to 8%.

CEO Jeff Sprecher said “AI is making our data more valuable, not less”, describing ICE’s proprietary pricing as “data that cannot be scraped or synthesized”. The new ICE Model Context Protocol server feeds that governed data into client AI workflows with permissioning and audit trails intact.

Ackman’s Conditional Return Case Pershing’s expected return rests on two legs: earnings growth from the recurring, data-heavy businesses, and a recovery in the multiple that compressed during the drawdown. ICE beat consensus for a fifth straight quarter, posting adjusted diluted EPS of $1.9 against a $1.84 consensus.

Capital return supports the per-share math. The board authorized up to $4.0 billion in repurchases effective July 1, 2026, and management plans to raise the baseline quarterly buyback from $350 million to $400 million.

The pending $5.7 billion acquisition of Market Access at $167 per share extends ICE’s fixed-income network. Sprecher described the combined platform as a “global fixed income network” that connects retail and institutional liquidity and evaluates pricing, execution, and clearing through a single connection.

Peer Context and Where the Thesis Can Break CME Group (NASDAQ:CME) reported record market-data revenue of $238 million, up 20% year over year. Nasdaq (NASDAQ:NDAQ) grew index revenue 38% to $271 million and listed SpaceX (NASDAQ:SPCX) in an $86 billion IPO, the largest in exchange history. CME is up 6.05% year to date and NDAQ up 0.4%, versus ICE at 0.26%. That valuation gap is the setup Pershing likes.

Three vulnerabilities stand out. A prolonged weak mortgage market would keep the segment’s GAAP operating margin near the 8% reported last quarter, delaying the realization of operating leverage from Aurora adoption.

Competitive pressure on fixed-income execution and data pricing is real, and management said Market Access has faced declining market share. The old multiple may never come back on Pershing’s timetable, in which case returns depend entirely on earnings compounding.

Is ICE Stock a Buy? Pershing’s thesis is grounded in cash flows already visible on the income statement. If AI accelerates demand for governed, regulated data and ICE integrates Market Access on schedule, the recurring-revenue engine keeps compounding whether or not the multiple re-rates quickly.

Against CME’s higher growth rate and Nasdaq’s faster AI monetization, ICE is the value play in the group. For a retirement-focused investor researching market infrastructure exposure through cycles, ICE screens as the value name in the group on Ackman’s logic, with the mortgage cycle as the risk worth monitoring.

Contact [email protected] for any questions or corrections.

NEW YORK & SEOUL, South Korea--(BUSINESS WIRE)--The New York Stock Exchange, part of Intercontinental Exchange, Inc. (NYSE: ICE), one of the world's leading providers of financial market technology and data powering global capital markets, and Korea Exchange, the sole securities exchange operator in the Republic of Korea, today announced the signing of a memorandum of understanding to collaborate on a number of key business activities aimed at expanding access to global capital markets. The col.

Key Takeaways Intercontinental Exchange closed at $162.33, an 8.3% discount to its 52-week high of $177.ICE raised 2026 recurring revenue growth guidance to 7%-8% as data services and network technology expand.ICE lifted 2026 adjusted operating expense guidance to $4.190-$4.230 billion, limiting near-term margins. Shares of Intercontinental Exchange, Inc. (ICE - Free Report) closed at $162.33 on Friday, an 8.3% discount to its 52-week high of $177.00.

ICE stock has lost 1.5% year to date compared with the industry’s decrease of 4.2%. The Finance sector has gained 7.9% and the Zacks S&P 500 composite has gained 12.2% in the same time frame. ICE shares are losing momentum despite resilient fundamentals, likely reflecting concerns over slower near-term growth, softer second-half guidance, weakness in energy trading and slower mortgage recovery.

ICE is a leading global operator of regulated exchanges, clearing houses and listings venues and a provider of data services for commodity, financial, fixed income and equity markets. A compelling portfolio, expansive risk-management services, strategic buyouts, solid balance sheet and effective capital deployment poise it well for growth.

ICE vs Industry, Sector, S&P 500
Image Source: Zacks Investment Research

Shares of Nasdaq Inc (NDAQ - Free Report) have gained 1.5% year to date, while those of CME Group (CME - Free Report) have gained 5% in the same time frame.

Are ICE Shares Affordable?The stock is undervalued compared with its industry. It is currently trading at a forward price-to-earnings multiple of 18.98, lower than the industry average of 21.6 and the median of 22.07 over three years.  
 

Image Source: Zacks Investment Research

ICE is relatively cheap compared to Nasdaq and CME Group.

The Case for ICE StockThe planned MarketAxess acquisition extends Intercontinental Exchange’s network strategy into institutional credit execution while complementing its retail and wealth distribution, pricing, indices, analytics and clearing capabilities.

ICE remains well-positioned to benefit from continued digitization across the mortgage origination and servicing lifecycle. Management expects third-quarter recurring revenues to remain broadly stable as core growth and new client ramps build. The $3.4 billion in future performance obligations as of June 30, 2026, also provides strong longer-term revenue visibility.

With capabilities spanning execution, market data, clearing, and workflow solutions across major asset classes, ICE maintains a diversified business model that reduces reliance on any single activity driver. Its Fixed Income and Data Services segment continues to expand through pricing, reference data, indices, and network technology. Management raised 2026 recurring revenue growth guidance to 7%-8%, although second-half growth is expected toward the lower end due to tougher data-center comparisons.

ICE is also leveraging proprietary data in client decision-making tools. Its expanded ICE Model Context Protocol enables governed access to proprietary data within institutional AI workflows, while ICE Compass applies pricing and transaction data to pre-trade fixed-income analytics.

Finally, ICE’s $600 million investment in Polymarket highlights its confidence in prediction markets as an emerging, data-driven asset class. The investment could create synergies with ICE’s exchange and data businesses, broaden its addressable market, and position the company to benefit from growing regulatory acceptance and innovation in alternative financial markets.

However, ICE continues to increase spending on performance compensation, technology capacity and product development. Full-year 2026 adjusted operating expense guidance was increased to $4.190-$4.230 billion, while third-quarter adjusted expenses are expected in the range of $1.063-$1.073 billion.

Growth Projections for ICEThe Zacks Consensus Estimate for 2026 revenues indicates a 10.7% year-over-year increase, while that for earnings suggests a 16.6% year-over-year increase. The consensus estimate for 2027 revenues indicates a 5.1% year-over-year increase, while that for earnings suggests an increase of 8.4% year over year. 
 

Image Source: Zacks Investment Research

The expected long-term earnings growth rate is pegged at 12.7%.

Optimist Analyst Sentiment on ICEThe consensus estimate for 2026 and 2027 earnings has moved 6 cents and 3 cents north, respectively, in the past 30 days, reflecting analysts' optimism.

The consensus estimates for 2026 earnings of Nasdaq moved 2 cents north in the last 30 days.

The consensus estimates for 2026 earnings of CME witnessed no movement in the last 30 days.

Parting Thoughts on ICE SharesIntercontinental Exchange benefits from a diversified exchange and a data and mortgage workflow portfolio that can perform across market cycles.  Solid growth projections and optimistic analyst sentiment instill confidence.

However, higher operating and capital spending limiting near-term margin expansion keeps us on the sidelines. Therefore, it is better to adopt a wait-and-see approach on this Zacks Rank #3 (Hold) stock. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

On August 25, 2026, we delve into the DCF analysis for Intercontinental Exchange Inc ICE, a company currently priced at $162.99. The stock has shown a mixed performance recently, with a 5.6% increase over the past week but a decline of 8.6% over the past year. Here are some key takeaways:

DCF Earnings-based intrinsic value suggests ICE is modestly overvalued with a margin of safety of -25.0%. DCF Free Cash Flow (FCF)-based intrinsic value stands at $148.04, indicating a similar overvaluation perspective with a margin of safety of -10.1%. GF Score™ of 84/100 indicates a strong overall performance, but with a predictability rank of 2/5 stars, the reliability of the DCF inputs is limited. What Is ICE Worth? DCF Earnings-Based Model The DCF earnings-based model for ICE employs a two-stage approach. In the first stage, we project earnings growth over the next ten years, followed by a terminal phase. Below are the assumptions used in this model:

Parameter Value Current EPS (TTM, excl. non-recurring) $7.67 10-Year Growth Rate 10.9% 10-Year Treasury Rate 4.67% Discount Rate (ceil(Treasury) + 6%) 11% Terminal Growth Rate 4% In the growth phase (Years 1-10), the EPS is expected to grow at 10.9% per year, discounted at 11%. The terminal phase (Years 11-20) assumes a growth rate of 4%, also discounted at 11%. The summary of the calculations is as follows:

Stage Description Value Growth Stage (Years 1-10) EPS growing at 10.9%, discounted at 11% $76.32 Terminal Stage (Years 11-20) 4% terminal growth, discounted at 11% $54.06 Intrinsic Value Growth + Terminal $130.38 With the current price at $162.99, the intrinsic value of $130.38 indicates that ICE is modestly overvalued, with a margin of safety of -25.0%. It is important to note that GuruFocus uses EPS excluding non-recurring items, as research indicates a stronger correlation between stock prices and earnings than with free cash flow. For further analysis, visit the ICE DCF Calculator.

What Does the Free Cash Flow DCF Say? The FCF-based intrinsic value for ICE is calculated at $148.04. This value suggests a similar conclusion to the earnings-based DCF, indicating that ICE is modestly overvalued with a margin of safety of -10.1%. The agreement between the two models strengthens the case for caution, although the earnings-based model remains the primary focus due to its historical reliability.

How Does GF Value™ Compare to the DCF Models? The GF Value™ for ICE is calculated at $169.86, providing a third perspective on the valuation. GF Value™ is a proprietary measure from GuruFocus that takes into account historical trading multiples, past business growth, and future performance estimates. While the DCF models suggest overvaluation, the GF Value™ indicates that ICE is actually 4.0% undervalued. This discrepancy highlights the tension between the models, emphasizing the need for careful consideration of qualitative factors in conjunction with quantitative analysis. For more details, visit the GF Value™ page.

What Does ICE's GF Score™ Tell Us? The GF Score™ measures a company's overall performance based on various factors, including financial strength, profitability, growth, and valuation. ICE's score of 84/100 reflects a strong performance, but its predictability rank of 2/5 stars suggests that the DCF model may be less reliable for this stock. Below is a summary of ICE's GF Score™ metrics:

Metric Rating GF Score™ 84/100 Financial Strength 4/10 Profitability 9/10 Growth 10/10 Valuation 10/10 Momentum 2/10 For more information on ICE's performance, visit the ICE stock page.

Key Assumptions and Limitations It is important to note that DCF models are highly sensitive to the assumptions made regarding growth rates and discount rates. Stocks with lower predictability ratings, such as ICE's 2/5 stars, yield less reliable DCF estimates. Additionally, the terminal growth rate of 4% is a simplifying assumption that may not reflect actual future performance.

What This Means for Investors In synthesizing the three valuation models—DCF earnings, DCF FCF, and GF Value™—we find a notable disagreement. The earnings-based and FCF-based DCF models suggest that ICE is modestly overvalued, while the GF Value™ indicates a slight undervaluation. This tension highlights the importance of qualitative factors and the current market sentiment. Furthermore, the Guru 13F activity shows that 17 gurus currently hold ICE stock, with 8 adding to their positions and 9 trimming their holdings in recent quarters. This mixed signal, coupled with insider selling of $90.9M over the past year, suggests a cautious approach. Investors should consider these insights carefully when evaluating ICE's potential. For further exploration, check out the ICE DCF Calculator.

Frequently Asked Questions What is ICE's intrinsic value based on DCF?

Answer: earnings-based $130.38, FCF-based $148.04

Is ICE overvalued or undervalued?

Answer: The consensus from the DCF models indicates ICE is modestly overvalued, while GF Value™ suggests it is undervalued.

How reliable is the DCF model for ICE?

Answer: The predictability rank of 2/5 indicates that the DCF model may be less reliable for ICE.

This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].

Disclosures I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.

-

Governor Greg Abbott to ring the NYSE Texas Closing Bell, broadcast live from the exchange

DALLAS--(BUSINESS WIRE)--The New York Stock Exchange, part of Intercontinental Exchange, Inc. (NYSE: ICE), one of the world's leading providers of financial market technology and data powering global capital markets, today announced the opening of the NYSE Texas headquarters in Dallas, located on the historic Old Parkland campus.

The new headquarters provides NYSE Texas-listed companies with a dedicated venue and event space in one of the nation's most dynamic business environments.

To mark the occasion, Governor Greg Abbott, joined by state legislators and members of the NYSE Texas listed community, will ring the NYSE Texas Closing Bell, broadcast live from the exchange's Dallas home.

“Texas is home to more Fortune 500 company headquarters than any other U.S. state, and the establishment of NYSE Texas reflects our deep commitment to the businesses and leaders driving the robust Texas economy forward,” said Lynn Martin, President, NYSE Group. “This headquarters is where our commitment to the state becomes concrete as a dedicated home for the innovators who are shaping the future.”

“NYSE Texas was built to serve our community, and today we take that mission to the next level,” said Bryan Daniel, President, NYSE Texas. “Texas is one of America's premier destinations for business growth and innovation, and we are proud to deepen the NYSE's presence in a state that continues to set the standard for economic dynamism.”

NYSE Texas, launched in March 2025, is the first securities exchange to be incorporated in Texas. The exchange has grown to more than 120 issuers with a combined market capitalization exceeding $2 trillion, while the state of Texas is home to more than $4.8 trillion in total NYSE-listed market value, underscoring the state's outsized role in American capital markets.

Live coverage of today's ceremony can be found on NYSE's X, YouTube, and LinkedIn channels.

About Intercontinental Exchange

Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds, and operates digital networks that connect people to opportunity. We provide financial technology and data services across major asset classes helping our customers access mission-critical workflow tools that increase transparency and efficiency. ICE’s futures, equity, and options exchanges -- including the New York Stock Exchange -- and clearing houses help people invest, raise capital and manage risk. We offer some of the world’s largest markets to trade and clear energy and environmental products. Our fixed income, data services and execution capabilities provide information, analytics and platforms that help our customers streamline processes and capitalize on opportunities. At ICE Mortgage Technology, we are transforming U.S. housing finance, from initial consumer engagement through loan production, closing, registration and the long-term servicing relationship. Together, ICE transforms, streamlines, and automates industries to connect our customers to opportunity.

Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located here. Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading “Key Information Documents (KIDS).”

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 -- Statements in this press release regarding ICE's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2025, as filed with the SEC on February 5, 2026.

Category: NYSE

More News From Intercontinental Exchange

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Intercontinental Exchange Inc. Chief Executive Officer Jeff Sprecher says the Clarity Act would help define rules about crypto. He also talks about ICE's $1.6 billion investment in Polymarket, a leading prediction market platform, and the possibility of expanding trading hours.

NEW YORK & LONDON--(BUSINESS WIRE)--Intercontinental Exchange, Inc. (NYSE: ICE), one of the world's leading providers of financial market technology and data powering global capital markets, today announced that ICE's global sugar markets hit record open interest (OI) of over 2.3 million contracts on August 14, 2026, up 43% year-over-year, surpassing the previous record set in February 2010. This record was driven by activity across ICE Sugar No. 11®, the global benchmark for raw cane sugar, wi.

Immigration and Customs Enforcement (ICE) officers in the US may soon be equipped with gloves that can deliver painful electric shocks. 

ICE plans to spend between $10m (£7.4m) and $20m (£14.8m) to provide officers and agents with "conductive distraction and de-escalation devices" by March, according to the Department of Homeland Security (DHS).

The devices, called Generated Low Output Voltage Emitter (GLOVE), must be applied directly to someone's skin to deliver the shock, but, unlike Tasers, they do not leave burn or contact marks.

They function as normal patrol gloves until the user presses a button to activate its electrical mode.

The gloves have previously been used by local law enforcement departments in settings such as prisons in the US.

In a statement, the DHS, which did not specifically mention the product, said: "ICE is constantly assessing the needs of our officers in the field to ensure they have the tools and equipment necessary to safely arrest and remove criminal illegal aliens from our country.

"Every decision is made with careful consideration and appropriately reviewed to ensure that any technology ICE utilizes is consistent with all applicable law enforcement policies and standards."

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Image: Generated Low Output Voltage Emitter (GLOVE). Pic: Compliant Technologies LLC 'Another dangerous tool'

The plans have drawn widespread criticism, with a fear that the devices could be misused chief among the concerns.

New York attorney general Letitia James said she was "outraged" by the proposal and warned that ICE officers who misuse the gloves in her state could face criminal and civil consequences.

Former ICE acting director John Sandweg, in an interview with news channel MS NOW, said: "It's too easy for this to get misused against a population that doesn't pose a threat."

Pramila Jayapal, a Democrat in Congress, wrote on social media that the gloves "won't make anyone safer" and were "another dangerous tool to target citizens and immigrants alike".

Meanwhile, Michael Mannheimer, a law professor at Northern Kentucky University who has written about police use-of-force, said: "One concern I would have is if ICE agents have this at their immediate disposal, will they use it more than they should? Will they jump over lesser force that could be appropriate and successful to attain compliance and instead use this first?"

Read more from Sky News:
Son of Hollywood director denies murdering parents
White House press secretary to leave role

How Trump reinvented ICE | Sky News Explains

The product's manufacturer, Compliant Technologies LLC of Lexington, Kentucky, said the devices should not be used against some populations that ICE agents routinely encounter, including the elderly, small children and pregnant women.

The device's user manual also warned that the gloves should not be used in response to verbal defiance, or for punishment or torture.

A pending lawsuit

While the items are marketed as non-lethal and safe for the heart, a pending lawsuit alleges a 43-year-old man died in 2024 after being shocked 27 times with the gloves and 13 more times by a Taser at a prison in Richmond, Kentucky.

An internal investigation found that two of the glove shocks lasted 45 and 99 seconds apiece – far more than the manufacturer's recommended 15-second limit.

According to court documents, the Madison County Detention Center claimed that "these actions not only inflicted unnecessary pain but also heightened the risk of serious health complications".

Minneapolis shootings: What is ICE?

The latest ICE controversy

ICE has faced significant scrutiny following a series of recent incidents related to the Trump administration's crackdown on immigration.

In January, 37-year-old US citizen Renee Good was shot dead in her car by ICE agents in Minneapolis, sparking demonstrations across the country.

Alex Pretti, a 37-year-old ICU nurse, was fatally shot by Border Patrol agents two weeks later.

Last month, a man died after being shot by an ICE officer in Houston, Texas.

And in another incident in Texas last year, a federal immigration agent shot and killed 23-year-old Ruben Ray Martinez during a late-night traffic encounter.

Arrests have also ramped up as the White House pursues its mass deportation agenda, with more than 10,000 arrests taking place across a five-day period in late June.

LONDON & ATLANTA & NEW YORK--(BUSINESS WIRE)--Intercontinental Exchange, Inc. (NYSE:ICE), one of the world’s leading providers of financial market technology and data powering global capital markets, today announced that DWS, a leading European asset manager with global reach, has launched three new Xtrackers fixed income ETFs benchmarked to ICE Indices. Xtrackers is DWS's global platform for exchange-traded funds (ETFs) and exchange-traded commodities (ETCs).

“We are pleased to work with ICE indices to bring investment grade and high yield credit exposures to the Xtrackers range for the first time, an important milestone for our fixed income ETF offering,” said Michael Mohr, Global Head of Xtrackers Products at DWS. “Backed by ICE’s index expertise, these ETFs expand the toolkit available to investors and deliver innovative building blocks that support increasingly sophisticated portfolio construction needs.”

The three new ETFs track the performance of global corporate, high yield, and government bonds.

Xtrackers Global Corporate Bond UCITS ETF (GOBC) - tracks the daily performance of the ICE BofA Global Corporate Index, a broad measure of the world’s investment grade corporate markets, including U.S. dollar, Canadian dollar, Australian dollar, Japanese yen, Swiss franc, Sterling and Euro-denominated debt. Xtrackers Global High Yield Corporate Bond UCITS ETF (XHW0) - tracks the daily performance of the ICE BofA Global High Yield Index, which measures U.S. dollar, Canadian dollar, Sterling and Euro-denominated below investment grade corporate debt. Xtrackers Eurozone Government Bond 1-10 UCITS ETF (XEZG) - tracks the daily performance of the ICE BofA 1-10 Euro Government Index, which measures Euro-denominated sovereign debt with a remaining term to final maturity less than 10 years. "Xtrackers is one of Europe's leading ETF platforms, and we're excited to collaborate with them to bring some of our long-standing flagship indices to European investors in ETF form," said Preston Peacock, Head of ICE Data Indices. "Backed by the breadth of our global index coverage, issuers have the flexibility to deliver products precisely matched to their clients' strategies."

ICE is a leading provider of indices, with over $2 trillion total assets under management benchmarked to ICE Indices, and a deep expertise administering and publishing indices used throughout global markets. Its broad offering includes over 8,000 global equity, fixed income, commodity and foreign exchange indices to support benchmarking and performance measurement by investors, backed by a 50-year track record.

For more information about ICE indices, visit https://www.ice.com/fixed-income-data-services/index-solutions/fixed-income-indices.

About Intercontinental Exchange

Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds, and operates digital networks that connect people to opportunity. We provide financial technology and data services across major asset classes helping our customers access mission-critical workflow tools that increase transparency and efficiency. ICE’s futures, equity, and options exchanges -- including the New York Stock Exchange -- and clearing houses help people invest, raise capital and manage risk. We offer some of the world’s largest markets to trade and clear energy and environmental products. Our fixed income, data services and execution capabilities provide information, analytics and platforms that help our customers streamline processes and capitalize on opportunities. At ICE Mortgage Technology, we are transforming U.S. housing finance, from initial consumer engagement through loan production, closing, registration and the long-term servicing relationship. Together, ICE transforms, streamlines, and automates industries to connect our customers to opportunity.

Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located here. Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading “Key Information Documents (KIDS).”

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 -- Statements in this press release regarding ICE's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2025, as filed with the SEC on February 5, 2026.

About Xtrackers

Xtrackers is DWS's global platform for exchange-traded funds (ETFs) and exchange-traded commodities (ETCs). With more than GBP 286 billion in assets under management (as of 29 June 2026), Xtrackers offers one of the largest and most established ETF ranges in Europe, providing investors with access to equity, fixed income and commodity markets through a broad range of index and actively managed strategies.

About DWS Group

DWS Group (DWS), with EUR 1,093bn of total assets under management (as of 31 March 2026), is a leading European asset manager with global reach. With approximately 5,000 employees in offices around the world, DWS offers individuals, institutions and large corporations access to comprehensive investment solutions and bespoke portfolios across the full spectrum of investment disciplines. Its diverse expertise in Active, Passive and Alternative asset management enables DWS to deliver targeted solutions for clients across all major liquid and illiquid asset classes.

www.dws.com

Category: Fixed Income and Data Services

SOURCE: Intercontinental Exchange