ICE sees trading and clearing decline in first quarter

Trading and clearing revenues down as data and listings business drives growth across business.

The Intercontinental Exchange (ICE) saw revenues in its trading and clearing business decrease in the first quarter this year, as group profits were largely driven by data services.  

Trading and clearing sales were down 6% to $538 million, compared to $574 million in the first quarter last year.

The data and listings business saw an 8% growth overall, with data services up 9% to $520 million and listings up 2% to $106 million.

Chief executive officer at ICE, Jeff Sprecher, explained solid volume and growth in the exchange operator’s futures market were partnered with strong results across its data business.

“Our progress in reorganising and integrating our data services allows us to serve our customers in new ways as their needs evolve,” he said.

“In addition, our success in hosting virtually every recent major IPO at the NYSE, demonstrates how our unique market model continues to be the preferred model for listed companies."

In March this year, ICE warned current regulations and the possibility of new regulations could ‘adversely’ affect its business and ability to compete in certain markets.

Specifically, the exchange noted position limit rules in the US and Europe, non-discriminatory access provisions of MiFID II and interoperability and margin rules in EMIR.

The annual report warned that clients and shareholders should be aware the possibility for new laws and regulations could also affect its ability to do business in certain regions.