Street Calls of the Week
NEW YORK - Intercontinental Exchange, Inc. (NYSE:ICE), a $92.15 billion market cap exchange operator with nearly 10% revenue growth over the last twelve months, reported record open interest across its futures markets for September 2025, according to a company press release. InvestingPro data shows the company maintains strong profitability metrics with a 100% gross margin.
Total open interest increased 15% year-over-year, reaching a record 56.9 million lots in futures on September 25. Energy open interest rose 8% compared to the same period last year, with futures hitting a record 41.0 million lots on September 25. The company’s strong market performance aligns with its robust financial health, as indicated by InvestingPro’s analysis, which reveals 8 additional key insights available to subscribers.
Oil markets showed strong activity with open interest up 14% year-over-year, including record futures of 11.1 million lots on September 29. Brent crude oil futures reached a record 3.0 million lots on September 24, representing a 14% increase from the previous year.
Natural gas markets also demonstrated growth, with total open interest rising 6% year-over-year and futures reaching a record 24.9 million lots on September 25. TTF Gas open interest increased 4% year-over-year, while Asia Gas open interest jumped 38%.
Financial markets showed significant expansion with open interest up 34% year-over-year. Interest rates open interest surged 42% compared to September 2024, reaching a record 12.2 million futures contracts on September 12. SONIA open interest increased 81% year-over-year, with a record 11.1 million lots on September 11.
NYSE cash equities average daily volume rose 49% year-over-year, while NYSE equity options average daily volume increased 17%.
For the third quarter, natural gas average daily volume grew 8% year-over-year, with North American gas up 5%, TTF gas up 9%, and Asia gas up 23%.
Ben Jackson, President of ICE, stated that the record open interest reflects how the company’s "global customer base turns to our markets for price direction across asset classes."
In other recent news, Intercontinental Exchange Inc. (ICE) reported its second-quarter earnings for 2025, exceeding analyst expectations with an adjusted earnings per share of $1.81, surpassing the forecast of $1.77. The company also met its revenue target with a maintained forecast of $2.54 billion. Additionally, ICE announced a 13% year-over-year increase in total open interest for August 2025, reaching a record 106.1 million lots. Growth was noted across multiple segments, with energy open interest rising 6% and notable increases in Brent crude and WTI contracts. Furthermore, ICE expanded its board of directors with the election of The Rt. Hon. the Lord Hill of Oareford, increasing the board’s size from 10 to 11 members. In another development, OTC Markets Group Inc. announced that its trading data is now accessible through ICE’s Consolidated Feed, enhancing data reach in Asian markets. These developments highlight ICE’s continued growth and strategic expansions.
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