Intercontinental Exchange Inc

ICE: XNYS (USA)

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Intercontinental Exchange: Strong Futures Trading More Than Offsetting Mortgage Technology Headwinds

Michael Miller

Aug 14, 2025

Business Strategy and Outlook

Intercontinental Exchange has diversified its revenue streams through a series of acquisitions to build its position in mortgage technology and fixed-income data. Roughly half of ICE’s revenue is recurring, reducing reliance on exchange fees, which is a positive, given the competition facing its equity trading business and the volatility of some of its mortgage technology revenue.

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Intercontinental Exchange Inc

Intercontinental Exchange: Strong Futures Trading More Than Offsetting Mortgage Technology Headwinds

Business Strategy and Outlook

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