Intercontinental Exchange Posts Record Q2 Income – Also Set to Launch CDS SEF

Derivatives exchange IntercontinentalExchange (ICE) announced its second quarter earnings figures today. During the quarter, revenues rose 6% from the same period last year to $372 million, with consolidated transaction and clearing revenues increasing 4% to $319 million. Transaction revenues were higher as the result of average daily volumes during Q2 reaching 3.5 million contracts, 3% above 2012 levels. Consolidated net income at the ICE was $153 million, 7% above last year’s figures, with an EPS of $2.09 on a GAAP basis. Excluding transaction costs related to the ICE’s purchase of NYSE Euronext, adjusted net income rose 12% to $161 million. According to the ICE, the $161 million figure was a quarterly income record.

In addition, the firm also announced at the close of trading yesterday that it would be launching ICE Swap Trade, a swap Execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term facility (SEF) that it expects to register with the CFTC and SEC as well as a multilateral trading facility (MTF) in Europe. They added that as part of the process of registering ICE Swap Trade, the ICE submitted a SEF application for credit markets with the CFTC on August 2nd. Pricing support for the platform will be offered by Citi, Morgan Stanley, Societe Generale and UBS.

Commenting on the earnings and revenue growth, ICE Chairman and CEO Jeffrey C. Sprecher stated in the company’s financial results release that "we delivered on our commitment to growth, achieving a record quarter while making continued progress on our acquisition of NYSE Euronext and seamlessly completing a significant clearing transition. We received approvals from shareholders of both companies and the European Commission and are working with regulators to finalize the transaction. Meanwhile, we remain focused on extending our Risk Management Risk Management One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, Read this Term services and delivering on the needs of our customers around the globe."