Intercontinental Exchange

Intercontinental Exchange, Inc. (ICE) is an American multinational financial services company that operates global financial exchanges, including stock exchanges and futures exchanges, as well as clearing houses, and provides technology and services for mortgage loan origination, closing, and servicing. The company operates three divisions: "Exchanges", which operates 13 regulated exchanges and six clearing houses (55% of 2025 net revenues); "Fixed Income and Data Services", which provides execution, clearing, and analytics services for trading in fixed income products (24% of 2025 net revenues); and "Mortgage Technology", which provides technology for mortgage loan origination, closing, and servicing (21% of 2025 net revenues). Within the company's exchanges division, the company receives transaction revenue from trading in stocks and options on stocks (39% of 2025 exchanges revenue), energy futures contracts and options (27% of 2025 exchanges revenue), interest rate futures and options (7% of 2025 exchanges revenue), agricultural and metals futures and options (3% of 2025 exchanges revenue), OTC energy products (5% of 2025 exchanges revenue), data and connectivity services (13% of 2025 exchanges revenue), and stock exchange listing fees (6% of 2025 exchanges revenue). Exchanges owned by ICE include the New York Stock Exchange, the world's largest stock exchange in terms of total market capitalization of its listed companies; ICE futures exchanges in the United States, Canada, and Europe; the London International Financial Futures and Options Exchange (LIFFE) futures exchanges in Europe; equity options exchanges; and OTC exchanges for energy, credit products, and equities. Central clearing houses owned by ICE include ICE Clear U.S., ICE Clear Europe, ICE Clear Singapore, ICE Clear Credit, ICE Clear Netherlands, and ICE NGX. It also owns ICE Digital Trust, a digital asset custody business. The company also owns 31% of Bakkt, 40% of Options Clearing Corporation, and 11% of Polymarket on a fully diluted basis.