Third Quarter ADV up 18% y/y; OI up 9% y/y

Intercontinental Exchange, Inc. (NYSE: ICE), a leading global provider of data, technology and market infrastructure, today reported September and third quarter 2021 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.

“We’ve seen elevated market activity across numerous asset classes in the third quarter as our customers manage their exposure to concerns including inflation driving interest rate changes, and rising gas and carbon prices in energy markets,” said Ben Jackson, President of Intercontinental Exchange. “ICE’s global exchanges were built to connect market participants and provide price transparency to allow them to manage their risk efficiently and with greater certainty.”

September highlights include:

• Total average daily volume (ADV) up 11% y/y; total open interest (OI) up 9% y/y
• Total Energy ADV up 23% y/y; OI up 8% y/y
• Total Oil ADV up 16% y/y
  • Brent ADV up 25% y/y
  • Gasoil ADV up 13% y/y; OI up 8% y/y
  • Other crude and refined products ADV up 20% y/y
• Total natural gas ADV up 34% y/y; OI up 13% y/y
  • Record TTF gas ADV up 151% y/y; OI up 30% y/y including record OI of 3.4M lots on September 23
  • JKM ADV up 76% y/y; OI up 35% y/y including record JKM OI on September 14
  • North American nat gas ADV up 20% y/y; OI up 11% y/y
• Environmentals ADV up 35% y/y; OI up 15% y/y including record OI of 3M lots on September 21
• Ags & Metals OI up 12% y/y
  • Coffee OI up 22% y/y
  • Cocoa OI up 20% y/y
  • Cotton OI up 35% y/y
• Total Interest Rate ADV up 4% y/y; OI up 13% y/y
  • Euribor ADV up 6% y/y; OI up 17% y/y
  • Gilt ADV up 29% y/y; OI up 45% y/y
  • Record SONIA ADV of 327k contracts; record OI of 3.9M contracts
• U.S. Equity Options ADV up 28% y/y

Third quarter highlights include:

• Total ADV up 18% y/y
• Total Energy ADV up 23% y/y
• Total Oil ADV up 26% y/y
  • Brent ADV up 35% y/y
  • Gasoil OI up 15% y/y
  • Other crude and refined products ADV up 18% y/y
• Total natural gas ADV up 17% y/y
  • Record TTF gas ADV up 105% y/y
  • Record JKM ADV up 67% y/y
  • North American nat gas ADV up 6% y/y
• Environmentals ADV up 36% y/y
• Cocoa ADV up 12% y/y
• Total Interest Rate ADV up 18% y/y
  • Euribor ADV up 12% y/y
  • Gilt ADV up 32% y/y
  • Record SONIA ADV of 197k contracts
• U.S. Equity Options ADV up 33% y/y

Updated Guidance:

• ICE now expects third quarter adjusted operating expenses⁽¹⁾ related to Bakkt to be approximately $40 million.
• ICE now expects third quarter GAAP non-operating expenses to be in the range of $47 million to $52 million. Adjusted non-operating expenses are expected to be in the range of $72 million to $77 million to account for a $30 million dividend related to our investment in Euroclear and FX.

(1) Non-GAAP operating expenses exclude amortization of acquisition-related intangibles and transaction-related costs.

About Intercontinental Exchange

Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds and operates digital networks to connect people to opportunity. We provide financial technology and data services across major asset classes that offer our customers access to mission-critical workflow tools that increase transparency and operational efficiencies. We operate exchanges, including the New York Stock Exchange, and clearing houses that help people invest, raise capital and manage risk across multiple asset classes. Our comprehensive fixed income data services and execution capabilities provide information, analytics and platforms that help our customers capitalize on opportunities and operate more efficiently. At ICE Mortgage Technology, we are transforming and digitizing the U.S. residential mortgage process, from consumer engagement through loan registration. Together, we transform, streamline and automate 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, 2020, as filed with the SEC on February 4, 2021.

SOURCE: Intercontinental Exchange

ICE-CORP

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