ICE profits rise on volatility

INTERCONTINENTALEXCHANGE’S quarterly profit jumped a better-than-expected 38 per cent as high volatility in the quarter drove robust US and European futures trading.

ICE’s futures trading and clearing revenues were up 24 per cent from last year on the back of a 23 per cent jump in trading volumes. The popular Brent crude and Gasoil contracts grew.

The US-based exchange and clearinghouse operator earned $132.6m (£83.1m) in the quarter, up from $96.3m a year ago. Revenue jumped 19 per cent to $340.8m.