ICE Reports Increase in Fixed Income Revenues in Q1 of 2019

The Intercontinental Exchange (ICE) is the latest financial institution to report its financial results for the first quarter of 2019, revealing another quarter of revenue growth for the parent company of the New York Stock Exchange Stock Exchange A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin Read this Term.

For the first quarter of 2019, net revenue for the firm was $1.27 billion, which is higher by 4 percent year-on-year. Consolidated net income attributable to ICE was $484 million.

Commenting on the results, ICE Chairman and Chief Executive Officer, Jeffrey Sprecher said: “We are pleased to report another quarter of revenue and earnings per share growth as compounding growth in our subscription-based Data & Listings business helped to offset a quarter of relatively muted trading activity. We remain focused on bringing efficiencies to our customers' workflows and creating value for our stockholders.”

Breaking revenues down, the trading and clearing segment achieved net revenues of $613 million during the quarter. When measuring this against the same quarter of the previous year, this is higher by 3 percent.

Fixed Income Revenues Grow in Q1 of 2019 on ICE

Contributing to this, revenues made from fixed-income and credit trading was $87 million. Comparing this with the first quarter of 2018, which noted revenue of $56 million for fixed-income and credit, revenues grew by 54 percent year-on-year.

Revenues from agriculture and metals trading, however, fell on a year-on-year comparison. Specifically, revenues dropped by 5 percent from $65 million in Q1 of 2018 down to $62 million in the most recent quarter.

“During the first quarter, we once again grew revenues, earnings and cash flows, enabling us to return nearly $600 million to stockholders. Our results are a testament to the diversity and global nature of our business mix, as well as our ability to drive future growth and create value for our stockholders,” added Scott Hill, ICE Chief Financial Officer.