(Reuters) – Intercontinental Exchange reported an increase in first-quarter profit on Thursday, benefiting from strong trading volumes in energy and options segments.
Global commodity and energy markets have experienced significant volatility due to shifting U.S. trade policies and concerns over the war in Ukraine. Exchanges often benefit from such market turmoil, as it typically drives higher overall trading volume.
ICE’s average daily volume (ADV) for energy trading rose 24% in the first quarter, with gains across segments including oil, gasoil and other crude and refined products. The ADV for natural gas also increased by 33%.
The exchange operator said first-quarter revenue from trading in energy-related products surged by 22% from a year earlier to $557 million.
The New York Stock Exchange parent reported adjusted earnings of $995 million, or $1.72 per share, for the quarter ended March 31, compared with $852 million, or $1.48 per share, a year earlier.
(Reporting by Prakhar Srivastava in Bengaluru; Editing by Krishna Chandra Eluri)
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