IntercontinentalExchange Q1 Income Down on Lower Volumes

The IntercontinentalExchange (ICE) has announced their Q1 financial results. During the quarter, GAAP Diluted EPS fell 8% from the same

iceThe IntercontinentalExchange (ICE) has announced their Q1 financial results. During the quarter, GAAP Diluted EPS fell 8% from the same period in 2012 to $1.85, on a 4% drop in Consolidated Revenues to $352 million. During the quarter, average daily volume of futures fell 4% to 3.6 million contracts. Transaction and clearing fees attributed to $299 million of the ICE’s total revenues.

Looking ahead, the ICE stated that its planned merger with the NYSE Euronext was going as planned, with a June 3rd special stockholder meeting date to approved the deal. ICE added that it expects $10-12 million in Q2 expenses related to the acquisition.

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ICE Chairman and CEO Jeffrey C. Sprecher stated “Amid ongoing regulatory uncertainty, we continue to expand our markets and services to customers. We executed on many initiatives during the quarter, including the completion of the ICE Endex transaction, which extends our reach in the global natural gas markets. As we continue with the regulatory approval process for the acquisition of NYSE Euronext, we are advancing our integration plans while focusing on opportunities to grow and serve customers across all of our markets globally.”

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