ICE · 10-Q · 2026Q3 · Full report

Equity Trading Demand

Intercontinental Exchange, Inc. · 2026-10-29 · Importance 41 · Surprise 56 · Matches filing data

Cash equities volume increased 15% for the first nine months of 2026, driven by higher industry volumes amid geopolitical risks and increased retail participation, but declined 2% in the third quarter. Equity options volume increased 32% and 29% for those periods, respectively, on higher industry activity associated with geopolitical risks. NYSE’s share of total equity options volume rose to 20.9% for the nine months and 21.5% for the quarter, up 2.0 and 2.4 percentage points year over year; its matched cash market share reached 19.8% and 19.3%, respectively.

Key facts

• Cash equities revenues net of transaction-based expenses were $283 million and $233 million for the nine months ended September 30, 2026 and 2025, and $96 million and $69 million for the respective three-month periods. source
• Equity options revenues net of transaction-based expenses were $112 million and $114 million for the nine months ended September 30, 2026 and 2025, and $36 million in each three-month period. source
• Equity options volume increased 32% and 29% for the nine and three months ended September 30, 2026, respectively, driven by higher industry volumes due to geopolitical risks. source
• Other financial futures and options volume increased 9% and 8%, and revenues increased 14% and 9%, for the nine and three months ended September 30, 2026, respectively, compared with 2025. source
• Cash equities volume increased 15% for the nine months and decreased 2% for the three months ended September 30, 2026; nine-month growth primarily reflected higher industry volumes driven by geopolitical risks and retail participation. source

Impact estimates