Intercontinental Exchange (ICE) has posted strong fourth quarter and annual results, boosted by transaction and clearing fees following another year of growth through acquisitions.
ICE’s net revenues from transaction and clearing fees more than doubled from 2013, rising to over $3 billion from $1.3 billion the previous year.
The exchange group acquired the New York Stock Exchange, futures platform Liffe and clearing houses in Europe and Asia over the past 18 months, boosting its income. It has also taken over technology firm SuperDerivatives along with the administration of benchmark rates Libor and ISDAFIX.
Consolidated revenues, less transaction-based expenses, were $3.1 billion in 2014, up from $1.6 billion in the previous year.
Fourth quarter 2014 consolidated revenues, less transaction-based expenses, were $800 million.
On a GAAP basis, diluted earnings per share (EPS) in the fourth quarter were $2.54 and for the full year 2014 were $8.55.
“By focusing on the requirements of our customers and delivering on our integration milestones, we achieved record results in 2014,” said ICE Chairman and CEO Jeffrey Sprecher.
“We strengthened our leadership position in growth markets, including global oil, natural gas and swaps clearing. During the year we also separated Euronext, seamlessly transitioned Liffe's markets to our exchanges and accelerated our synergy realisation.
“We grew revenues at the New York Stock Exchange, increased market share in trading and again led in global capital raising with 129 initial public offerings.”