ICE · 10-Q · 2026Q2

Intercontinental Exchange, Inc.

Filed 2026-07-30 · Financials · View original filing on EDGAR

Ranked Events

• Capital Return ProgramImportance 89 · Surprise 82
  ICE repurchased 7.9 million shares for $1.2 billion during the six months ended June 30, 2026, including $500 million of open-market purchases, compared with $496 million in the prior-year period. The remaining…
• Capital ExpendituresImportance 70 · Surprise 40
  ICE currently expects approximately $850 million of 2026 capital expenditures, including operational and real-estate capital expenditures and eligible capitalized software-development costs. The spending is intended to…
• Operating Income and MarginsImportance 69 · Surprise 64
  Consolidated operating income increased to $3.056 billion for the six months ended June 30, 2026 from $2.518 billion in the prior-year period, while three-month operating income increased to $1.391 billion from $1.297…
• Investment Fair Value GainsImportance 67 · Surprise 66
  ICE recorded $390 million of fair-value gains during the six months ended June 30, 2026, primarily from Polymarket preferred stock, with substantially all recognized in the first quarter. ICE also recognized a $62…
• U.S. Tax Law ChangesImportance 65 · Surprise 60
  For tax years beginning after December 31, 2025, the Net CFC Tested Income regime under the One Big Beautiful Bill Act replaces the Global Intangible Low-Taxed Income regime. ICE intends to apply the high-tax exception…
• Free Cash Flow TrendsImportance 64 · Surprise 56
  Net cash provided by operating activities increased to $3.324 billion for the six months ended June 30, 2026, from $2.472 billion in the prior-year period. Free cash flow rose 36% to $2.886 billion from $2.116 billion…
• Interest Rate Derivatives GrowthImportance 59 · Surprise 82
  Financial futures and options volume increased 44% for the six months ended June 30, 2026 and 23% for the three months ended June 30, 2026. Interest-rate futures and options volume increased 47% and 24% in the…
• Liquidity and Cash PositionImportance 58 · Surprise 56
  Consolidated cash and cash equivalents increased to $1.1 billion at June 30, 2026 from $837 million at December 31, 2025. Cash and cash equivalent margin deposits and guaranty funds increased to $114.6 billion from…
• Transaction-Based ExpensesImportance 57 · Surprise 38
  Exchanges rebates increased to $1.1 billion for the six months ended June 30, 2026 from $842 million in 2025, primarily because of higher traded volumes. Cash liquidity payments, routing and clearing fees increased to…
• Acquisition / Partnership / DivestitureImportance 55 · Surprise 66
  ICE incurred $53 million of acquisition-related transaction and integration costs during the six months ended June 30, 2026, up from $42 million in the comparable 2025 period, primarily for integrating Black Knight.…
• Outstanding IndebtednessImportance 54 · Surprise 14
  ICE had $19.8 billion of outstanding debt as of June 30, 2026, including $18.6 billion of senior notes and $1.2 billion under its Commercial Paper Program. Senior notes carried a weighted-average cost of 3.7%, while…
• Exchanges Revenue and MixImportance 54 · Surprise 40
  Exchanges segment revenues less transaction-based expenses increased to $3.245 billion for the six months ended June 30, 2026 from $2.782 billion, and to $1.464 billion for the three months from $1.415 billion.…
• Regulatory RiskImportance 47 · Surprise 60
  In February 2026, the EU’s EMIR 3.0 Delegated Act made the Active Account Requirement effective, requiring in-scope EU participants to maintain accounts at an EU central counterparty and clear certain euro-denominated…
• Exchanges Trading VolumesImportance 47 · Surprise 48
  Total futures and options contracts traded increased to 1.519 billion for the six months ended June 30, 2026 from 1.242 billion, while three-month volume declined 1% to 780 million contracts. Agricultural and metals…
• Competition and Pricing PressureImportance 46 · Surprise 56
  NYSE cash-equities volume increased 24% for the six months and 12% for the three months ended June 30, 2026, primarily reflecting higher industry volumes from geopolitical risks and increased retail participation.…
• Agricultural and Metals DemandImportance 46 · Surprise 56
  Agricultural and metals futures and options volume increased 32% for the six months and 36% for the three months ended June 30, 2026, with revenues increasing 31% and 35%, respectively. Sugar futures and options volume…
• Income Tax Rate ChangesImportance 45 · Surprise 64
  Non-GAAP tax adjustments included a $27 million deferred tax expense related to acquisition-related intangibles for the six months ended June 30, 2026, compared with $6 million in the prior-year period. The…
• Headcount / RestructuringImportance 45 · Surprise 50
  Employee headcount decreased to 12,725 as of June 30, 2026 from 12,806 a year earlier, a reduction of 81 employees. The decline primarily reflected reductions made to realize synergies from the Black Knight…
• Pillar Two Global Minimum TaxImportance 44 · Surprise 60
  The OECD Global Anti-Base Erosion Pillar Two rules generally establish a 15% minimum effective tax rate for tax years beginning in 2024. EU member states and the U.K. have committed to implement or enacted legislation…
• Data Services Customer GrowthImportance 42 · Surprise 40
  Data and connectivity services revenue increased 13% for both the six- and three-month periods ended June 30, 2026. Growth was supported by strong customer retention, new customer additions and increased spending by…

Revenue by Product (in millions)