Intercontinental Exchange
Intercontinental Exchange is a vertically integrated operator of financial exchanges and provides ancillary data products. Though the company is probably best known for its ownership of the New York Stock Exchange, which it acquired in 2013, ICE operates a large derivatives exchange, too. The company's largest commodity futures product is the ICE Brent crude futures contract. In addition to the exchanges business, which is about 54% of net revenue, Intercontinental Exchange has used a series of acquisitions to create its mortgage technology business (22% of net revenue) and fixed-income and data services segment (24% of net revenue).www.intercontinentalexchange.com
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Search complete. 65 mentions across 45 episodes found for "Intercontinental Exchange".
Sep 17, 2026
Lee TaylorGUEST
And so those are still happening in that market.
Lee TaylorGUEST
But I would say what was somewhat unique about renewables is if you think about the world, you know, you want to buy, sell or trade base power or natural gas, you can log into Intercontinental Exchange or Chicago Merchandise Exchange and see where people are buying or selling those contracts and transact pretty quickly.
Lee TaylorGUEST
If you wanted to buy power for a solar project, you would hire a broker who would run an RFP.
Lee TaylorGUEST
Three months later, they would have all the answers and have analyzed them.
John CooganHOST
Uh, that uncertainty has given rise to a futures market that was starting to take off this summer.
John CooganHOST
The CFTC's 60-day pause could delay plans by exchange operators like CME and, and NYSE, uh, in, parent Intercontinental Exchange, along with upstarts like Architectural Financial Technologies to list two siding, two-sided betting parlors.
John CooganHOST
Interesting.
John CooganHOST
Get that flashbang ready.
LauraHOST
And it is not just one exchange.
LauraHOST
The Intercontinental Exchange announced back in May, alongside a startup called Orn, cash-settled compute futures built on an index of live traded spot prices across several chip families.
LauraHOST
Their pitch was blunt.
LauraHOST
The exchange executive said the compute market is in desperate need of a globally accepted pricing mechanism.
Ally SelbyHOST
Nick, I want to start with you today.
Ally SelbyHOST
Your highest conviction picks, or one of them, is Intercontinental Exchange.
Ally SelbyHOST
The ticker is ICE.
Ally SelbyHOST
It's actually a futures exchange.
Nick HealyGUEST
Yeah, absolutely.
Nick HealyGUEST
Thanks, Ali.
Nick HealyGUEST
So, ICE or Intercontinental Exchange is a futures exchange, as you mentioned.
Nick HealyGUEST
It also does mortgage technology and some data services.
Zeke AshtonGUEST
But the valuations got very interesting.
Zeke AshtonGUEST
So, for example, Intercontinental Exchange was trading it and I think it still is trading at less than 20 times free cash flow.
Zeke AshtonGUEST
And then CME is slightly more expensive, but CME also owns kind of this hidden asset.
Zeke AshtonGUEST
They own a 27% stake in the S&P index business, S&P Global.
16 MINS LATER
Zeke AshtonGUEST
And if I lose money to you tomorrow, I've got to slide those chips back to you.
Zeke AshtonGUEST
And so there's also not a major clearing operation that I can see.
Zeke AshtonGUEST
I think one of the benefits of owning a company like Intercontinental Exchange, and one of the reasons that we picked that one and CME is they both have they both have their own internal clearing operation, which protects investors from basically the other side not being able to meet their margin call.
Zeke AshtonGUEST
And so obviously it's a very new perpetual futures is a very new product.
Patrick L. YoungHOST
where else? Texas.
Patrick L. YoungHOST
And alongside that news from the Intercontinental Exchange's NYSE franchise, NYSE has signed an MOU with the KRX.
Patrick L. YoungHOST
The United States is leading the world when it comes to the future of finance, noted Lynn Martin, the NYSE president, when she was addressing Congress just the other week.
Patrick L. YoungHOST
and a testimony on the Hill.
Brian MattGUEST
So I got involved in that space, built some platforms that helped look at how investors make those voting decisions, as well as looked at sustainability-focused portfolio space and how companies fit in those portfolios.
Brian MattGUEST
Then joined, did bespoke work for companies, did consulting work from 18 to 21, then joined the New York Stock Exchange in 2021, to work with our listed company, Sustainability Leaders, as well as other things that we're doing at Intercontinental Exchange.
Doug ChiaHOST
You mentioned WordPerfect and Lotus 1, 2, 3, and I was like, whoa.
Doug ChiaHOST
Yeah.
Brian MattGUEST
I've got so many of those folks here that can help newer companies that are just building programs out to start with, that I can connect those folks to.
Brian MattGUEST
We also then provide them data tools.
Brian MattGUEST
And these are the same data tools that we as Intercontinental Exchange actually sell out into the investment community.
Brian MattGUEST
So it gives them the same view that investors would have about them for benchmarking purposes.
speaker_1HOST
The math points to a massive 8.9 million bag surplus.
speaker_1HOST
But if you look at the certified warehouse stocks for the Intercontinental Exchange, the ICE, they just hit a 27-year low.
Eli LevyHOST
Wait, really? A 27-year low?
speaker_1HOST
Yeah.
Morten MyrstadHOST
Wall Street noticed.
Morten MyrstadHOST
The Intercontinental Exchange committed as much as $2 billion in an investment to Polymarket.
Morten MyrstadHOST
CME launched its own event contracts.
Morten MyrstadHOST
Robinhood built an exchange of its own, and by the second quarter, prediction markets were bringing in a fifth of Robinhood's trading revenue.
Will LahnenGUEST
Um, I mean, we, uh Uh, ICE the uh, um-
Randall ThomasHOST
Intercontinental Exchange
Will LahnenGUEST
...
Will LahnenGUEST
Inter.
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