EX-99.1 2 tm245272d1_ex99-1.htm EXHIBIT 99.1

Exhibit 99.1

 

 

Intercontinental Exchange Reports Strong Full Year 2023 Results

 

18th consecutive year of record revenues

 

· 2023 net revenues of $8.0 billion, +10% y/y    

Jeffrey C. Sprecher,

 

ICE Chair & Chief Executive Officer, said,

 

"We are pleased to report our 18th consecutive year of record revenues and another year of earnings per share growth. A dynamic macro environment and strong secular tailwinds across our business continue to drive customers to our diverse, liquid markets and our mission-critical data and SaaS technologies to manage risk and capture efficiencies. As we look to 2024 and beyond, we remain focused on innovating across asset classes to serve the needs of our customers and deliver growth for our stockholders."

 

     
· 2023 GAAP diluted EPS of $4.19, +62% y/y    
     
· 2023 adj. diluted EPS of $5.62, +6% y/y    
     
· Record 2023 operating income of $3.7 billion, +2% y/y; Record adj. operating income of $4.7 billion, +9% y/y    
     
· 2023 operating margin of 46%; adj. operating margin of 59%    
     
· Nearly $1 billion returned to stockholders through dividends in 2023    
     
· Completed the strategic acquisition of Black Knight on September 5, 2023    

 

ATLANTA & NEW YORK, February 8, 2024 - Intercontinental Exchange (NYSE: ICE), a leading global provider of technology and data, today reported financial results for the fourth quarter and full year of 2023. For the quarter ended December 31, 2023, consolidated net income attributable to ICE was $373 million on $2.2 billion of consolidated revenues less transaction-based expenses. Fourth quarter GAAP diluted earnings per share (EPS) was $0.65. Adjusted net income attributable to ICE was $760 million in the fourth quarter and adjusted diluted EPS was $1.33.

 

For the full year of 2023 consolidated net income attributable to ICE was $2.4 billion on $8.0 billion of consolidated revenues less transaction-based expenses. Full year 2023 GAAP diluted EPS was $4.19, up 62% year-over-year. On an adjusted basis, net income attributable to ICE for the year was $3.2 billion and adjusted diluted EPS was $5.62, up 6% year-over-year.

 

Please refer to the reconciliation of non-GAAP financial measures included in this press release for more information on our adjusted operating expenses, adjusted operating income, adjusted operating margin, adjusted net income, adjusted diluted EPS and adjusted free cash flow.

 

Warren Gardiner, ICE Chief Financial Officer, added: "In 2023, we once again generated record revenues and record operating income. This performance is a clear testament to the strength of our strategically diversified business model, which, through an array of macroeconomic environments, continues to deliver consistent and compounding growth for our stockholders. As we enter 2024, we remain well positioned to benefit from numerous cyclical tailwinds and secular trends."

 

1

 

 

Fourth Quarter and Full Year 2023 Business Highlights

 

Fourth quarter consolidated net revenues were $2.2 billion, up 25% year-over-year, including exchange net revenues of $1.1 billion, fixed income and data services revenues of $563 million and mortgage technology revenues of $502 million. Consolidated operating expenses were $1.3 billion for the fourth quarter of 2023. On an adjusted basis, consolidated operating expenses were $952 million. Consolidated operating income for the fourth quarter was $925 million and the operating margin was 42%. On an adjusted basis, consolidated operating income for the fourth quarter was $1.2 billion and the adjusted operating margin was 57%.

 

Full year 2023 consolidated net revenues were $8.0 billion, up 10% year-over-year, including exchange net revenues of $4.4 billion, fixed income and data services revenues of $2.2 billion and mortgage technology revenues of $1.3 billion. Consolidated operating expenses were $4.3 billion for 2023. On an adjusted basis, consolidated operating expenses were $3.3 billion. Consolidated operating income for the year was $3.7 billion and the operating margin was 46%. On an adjusted basis, consolidated operating income for the year was $4.7 billion and the adjusted operating margin was 59%.

 

   Net
Revenue
   Op
Margin
   Adj Op
Margin
   Net
Revenue
   Op
Margin
   Adj Op
 Margin
 
                         
$ (in millions)  Full Year 2023   4Q23 
Exchanges  $4,440    71%   73%  $1,136    70%   72%
Fixed Income and Data Services  $2,231    36%   44%  $563    36%   43%
Mortgage Technology  $1,317    (21)%   39%  $502    (15)%   39%
Consolidated  $7,988    46%   59%  $2,201    42%   57%

 

    FY23    FY22    % Chg    4Q23   4Q22   % Chg 
Recurring Revenue  $4,138   $3,721    11%  $1,199   $940    28%
Transaction Revenue, net  $3,850   $3,571    8%  $1,002   $828    21%

 

2

 

 

Exchanges Segment Results

 

Fourth quarter exchange net revenues were $1.1 billion, up 16% year-over-year. Exchange operating expenses were $337 million and on an adjusted basis, were $321 million in the fourth quarter. Segment operating income for the fourth quarter was $799 million and the operating margin was 70%. On an adjusted basis, operating income was $815 million and the adjusted operating margin was 72%.

 

$ (in millions)   4Q23   4Q22   % Chg    Const
Curr(1)
 
Revenue, net:                    
Energy  $414   $278    48%   46%
Ags and Metals   63    56    13%   12%
Financials(2)   116    100    16%   11%
Cash Equities and Equity Options   99    92    7%   7%
OTC and Other(3)   89    103    (13)%   (14)%
Data and Connectivity Services   234    226    3%   3%
Listings   121    127    (4)%   (4)%
Segment Revenue  $1,136   $982    16%   14%
                     
Recurring Revenue  $355   $353    1%   1%
Transaction Revenue, net  $781   $629    24%   22%

 

(1) Net revenues in constant currency are calculated holding both the pound sterling and euro at the average exchange rate from 4Q22, 1.1737 and 1.0211, respectively.

 

(2) Financials include interest rates and other financial futures and options.

 

(3) OTC & other primarily includes physical energy, interest income on certain clearing margin deposits, regulatory penalties and fines, fees for use of our facilities, regulatory fees charged to member organizations of our U.S. securities exchanges, designated market maker service fees, technology development fees, exchange member fees, and agriculture grading and certification fees.

 

Full year exchange net revenues were $4.4 billion, up 9% year-over-year. Exchange operating expenses were $1.3 billion and on an adjusted basis, were $1.2 billion for the full year. Segment operating income for 2023 was $3.2 billion and the operating margin was 71%. On an adjusted basis, operating income was $3.2 billion and the adjusted operating margin was 73%.

 

3

 

 

$ (in millions)  FY23   FY22   % Chg   Const
Curr(1)
 
Revenue, net:                    
Energy  $1,498   $1,162    29%   28%
Ags and Metals   271    235    15%   15%
Financials(2)   460    475    (3)%   (3)%
Cash Equities and Equity Options   383    378    1%   1%
OTC and Other(3)   398    429    (7)%   (7)%
Data and Connectivity Services   933    877    6%   6%
Listings   497    515    (4)%   (4)%
Segment Revenue  $4,440   $4,071    9%   9%
                     
Recurring Revenue  $1,430   $1,392    3%   3%
Transaction Revenue, net  $3,010   $2,679    12%   12%

 

(1) Net revenues in constant currency are calculated holding both the pound sterling and euro at the average exchange rate from 2022, 1.2376 and 1.0540, respectively.

 

(2) Financials include interest rates and other financial futures and options.

 

(3) OTC & other primarily includes physical energy, interest income on certain clearing margin deposits, regulatory penalties and fines, fees for use of our facilities, regulatory fees charged to member organizations of our U.S. securities exchanges, designated market maker service fees, technology development fees, exchange member fees, and agriculture grading and certification fees.

 

Fixed Income and Data Services Segment Results

 

Fourth quarter fixed income and data services revenues were $563 million, up 5% year-over-year. Fixed income and data services operating expenses were $363 million and adjusted operating expenses were $322 million in the fourth quarter. Segment operating income for the fourth quarter was $200 million and the operating margin was 36%. On an adjusted basis, operating income was $241 million and the adjusted operating margin was 43%.

 

4

 

 

$ (in millions)   4Q23   4Q22   % Chg    Const
Curr(1)
 
Revenue:                    
Fixed Income Execution  $35   $35    %   %
CDS Clearing   81    79    5%   4%
Fixed Income Data and Analytics   286    274    4%   4%
Other Data and Network Services   161    149    8%   7%
Segment Revenue  $563   $537    5%   4%
                     
Recurring Revenue  $447   $423    5%   5%
Transaction Revenue  $116   $114    4%   3%

 

(1) Net revenues in constant currency are calculated holding both the pound sterling and euro at the average exchange rate from 4Q22, 1.1737 and 1.0211, respectively.

 

Full year 2023 fixed income and data services revenues were $2.2 billion, up 7% year-over-year. Fixed income and data services operating expenses were $1.4 billion and on an adjusted basis, were $1.3 billion for the year. Segment operating income for the full year was $811 million and the operating margin was 36%. On an adjusted basis, operating income was $979 million and the adjusted operating margin was 44%.

 

$ (in millions)  FY23   FY22   % Chg   Const
Curr(1)
 
Revenue:                
Fixed Income Execution  $124   $101    23%   23%
CDS Clearing   360    305    18%   18%
Fixed Income Data and Analytics   1,118    1,098    2%   2%
Other Data and Network Services   629    588    7%   7%
Segment Revenue  $2,231   $2,092    7%   6%
                     
Recurring Revenue  $1,747   $1,686    4%   3%
Transaction Revenue  $484   $406    20%   19%

 

(1) Net revenues in constant currency are calculated holding both the pound sterling and euro at the average exchange rate from 2022, 1.2376 and 1.0540, respectively.

 

5

 

 

Mortgage Technology Segment Results

 

Fourth quarter mortgage technology revenues were $502 million. Mortgage technology operating expenses were $576 million and adjusted operating expenses were $309 million in the fourth quarter. Segment operating loss for the fourth quarter was $74 million and the operating margin was (15)%. On an adjusted basis, operating income was $193 million and the adjusted operating margin was 39%.

 

$ (in millions)   4Q23   4Q22   % Chg 
Revenue:               
Origination Technology  $170   $181    (6)%
Closing Solutions   43    44    (2)%
Servicing Software   219        n/a 
Data and Analytics   70    24    192%
Segment Revenue  $502   $249    102%
                
Recurring Revenue  $397   $164    144%
Transaction Revenue  $105   $85    22%

 

Full year mortgage technology revenues were $1.3 billion. Mortgage technology operating expenses were $1.6 billion and adjusted operating expenses were $809 million in 2023. Segment operating loss for the full year was $276 million and the operating margin was (21)%. On an adjusted basis, operating income was $508 million and the adjusted operating margin was 39%.

 

$ (in millions)  FY23   FY22   % Chg 
Revenue:            
Origination Technology  $694   $798    (13)%
Closing Solutions   179    239    (25)%
Servicing Software   288        n/a 
Data and Analytics   156    92    69%
Segment Revenue  $1,317   $1,129    17%
                
Recurring Revenue  $961   $643    50%
Transaction Revenue  $356   $486    (27)%

 

6

 

 

Other Matters

 

·Operating cash flow for 2023 was $3.5 billion and adjusted free cash flow was $3.2 billion.

 

·As of December 31, 2023, unrestricted cash was $899 million and outstanding debt was $22.6 billion.

 

·ICE paid $955 million in dividends in 2023.

 

Financial Guidance

 

  GAAP Non-GAAP
2024 Exchange Recurring Revenue (% growth) Low-single digits
2024 Fixed Income & Data Services Recurring Revenue (% growth) Mid-single digits
2024 Mortgage Technology Revenue (% growth) Low-to-mid single digits
2024 Operating Expenses $4.775 - $4.820 billion $3.81 - $3.86 billion(1)
1Q24 Operating Expenses $1.175 - $1.185 billion $930 - $940 million(1)
1Q24 Non-Operating Expense(2) $245 - $250 million $215 - $220 million
2024 Capital Expenditures $600 - $650 million
2024 Effective Tax Rate 24% - 26%(3)
1Q24 Weighted Average Shares Outstanding 572 - 578 million shares

 

(1) 2024 and 1Q24 non-GAAP operating expenses exclude amortization of acquisition-related intangibles and integration expenses.

 

(2) Non-operating expense includes interest income, interest expense and net other income/expense. Adjusted non-operating expense excludes equity earnings from unconsolidated investees.

 

(3) This represents 2024 full year guidance for both the GAAP and non-GAAP effective tax rates but note that the GAAP effective tax rate is more susceptible to diverging from this guidance based on items outside the normal course of business that are adjusted for to derive our non-GAAP results. Such items can be unknown, unpredictable or uncertain, requiring unreasonable efforts to determine with any precision and which could potentially be confusing or misleading.

 

7

 

 

Earnings Conference Call Information

 

ICE will hold a conference call today, February 8, at 8:30 a.m. ET to review its fourth quarter 2023 financial results. A live audio webcast of the earnings call will be available on the company's website at www.theice.com in the investor relations section. Participants may also listen via telephone by dialing 833-470-1428 from the United States or 929-526-1599 from outside of the United States. Telephone participants are required to provide the participant entry number 571937 and are recommended to call 10 minutes prior to the start of the call. The call will be archived on the company's website for replay.

 

The conference call for the first quarter 2024 earnings has been scheduled for May 2nd at 8:30 a.m. ET. Please refer to the Investor Relations website at www.ir.theice.com for additional information.

 

Historical futures, options and cash ADV, rate per contract, open interest data and CDS cleared information can be found at: https://ir.theice.com/investor-resources/supplemental-information/default.aspx

 

8

 

 

Consolidated Statements of Income

(In millions, except per share amounts)

 

  

Twelve Months Ended

December 31,

  

Three Months Ended

December 31,

 
  2023   2022   2023   2022 
Revenues:                    
Exchanges  $6,355   $6,415   $1,601   $1,591 
Fixed income and data services   2,231    2,092    563    537 
Mortgage technology   1,317    1,129    502    249 
Total revenues   9,903    9,636    2,666    2,377 
Transaction-based expenses:                    
Section 31 fees   293    499    62    167 
Cash liquidity payments, routing and clearing   1,622    1,845    403    442 
Total revenues, less transaction-based expenses   7,988    7,292    2,201    1,768 
Operating expenses:                    
Compensation and benefits   1,595    1,407    492    349 
Professional services   123    131    35    30 
Acquisition-related transaction and integration costs   269    93    68    12 
Technology and communication   734    683    205    170 
Rent and occupancy   92    83    27    20 
Selling, general and administrative   266    226    70    60 
Depreciation and amortization   1,215    1,031    379    263 
Total operating expenses   4,294    3,654    1,276    904 
Operating income   3,694    3,638    925    864 
Other income/(expense):                    
Interest income   319    108    32    66 
Interest expense   (808)   (616)   (251)   (176)
Other income/(expense), net   (311)   (1,322)   (190)   (190)
Total other income/(expense), net   (800)   (1,830)   (409)   (300)
Income before income tax expense   2,894    1,808    516    564 
Income tax expense   456    310    126    124 
Net income  $2,438   $1,498   $390   $440 
Net income attributable to non-controlling interest   (70)   (52)   (17)   (15)
Net income attributable to Intercontinental Exchange, Inc.  $2,368   $1,446   $373   $425 
                     
Earnings per share attributable to Intercontinental Exchange, Inc. common stockholders:                    
Basic  $4.20   $2.59   $0.65   $0.76 
Diluted  $4.19   $2.58   $0.65   $0.76 
Weighted average common shares outstanding:                    
Basic   564    559    572    559 
Diluted   565    561    574    560 

 

9

 

 

Consolidated Balance Sheets

(In millions)

 

   As of   As of 
   December 31, 2023   December 31, 2022 
Assets:        
Current assets:          
Cash and cash equivalents  $899   $1,799 
Short-term restricted cash and cash equivalents   531    6,149 
Restricted short-term investments   680     
Cash and cash equivalent margin deposits and guaranty funds   78,980    141,990 
Invested deposits, delivery contracts receivable and unsettled variation margin   1,814    5,382 
Customer accounts receivable, net   1,366    1,169 
Prepaid expenses and other current assets   703    458 
Total current assets   84,973    156,947 
Property and equipment, net   1,923    1,767 
Other non-current assets:          
Goodwill   30,553    21,111 
Other intangible assets, net   17,317    13,090 
Long-term restricted cash and cash equivalents   340    405 
Other non-current assets   978    1,018 
Total other non-current assets   49,188    35,624 
Total assets  $136,084   $194,338 
           
Liabilities and Equity:          
Current liabilities:          
Accounts payable and accrued liabilities  $1,003   $866 
Section 31 fees payable   79    223 
Accrued salaries and benefits   459    352 
Deferred revenue   200    170 
Short-term debt   1,954    4 
Margin deposits and guaranty funds   78,980    141,990 
Invested deposits, delivery contracts payable and unsettled variation margin   1,814    5,382 
Other current liabilities   137    184 
Total current liabilities   84,626    149,171 
Non-current liabilities:          
Non-current deferred tax liability, net   4,080    3,493 
Long-term debt   20,659    18,118 
Accrued employee benefits   193    160 
Non-current operating lease liability   299    254 
Other non-current liabilities   441    381 
Total non-current liabilities   25,672    22,406 
Total liabilities   110,298    171,577 
Commitments and contingencies          
Equity:          
Intercontinental Exchange, Inc. stockholders’ equity:          
Common stock   6    6 
Treasury stock, at cost   (6,304)   (6,225)
Additional paid-in capital   15,953    14,313 
Retained earnings   16,356    14,943 
Accumulated other comprehensive loss   (294)   (331)
Total Intercontinental Exchange, Inc. stockholders’ equity   25,717    22,706 
Non-controlling interest in consolidated subsidiaries   69    55 
Total equity   25,786    22,761 
Total liabilities and equity  $136,084   $194,338 

 

10

 

 

Non-GAAP Financial Measures and Reconciliation

 

We use non-GAAP measures internally to evaluate our performance and in making financial and operational decisions. When viewed in conjunction with our GAAP results and the accompanying reconciliation, we believe that our presentation of these measures provides investors with greater transparency and a greater understanding of factors affecting our financial condition and results of operations than GAAP measures alone. In addition, we believe the presentation of these measures is useful to investors for period-to-period comparison of results because the items described below as adjustments to GAAP are not reflective of our core business performance. These financial measures are not in accordance with, or an alternative to, GAAP financial measures and may be different from non-GAAP measures used by other companies. We use these adjusted results because we believe they more clearly highlight trends in our business that may not otherwise be apparent when relying solely on GAAP financial measures, since these measures eliminate from our results specific financial items that have less bearing on our core operating performance. We strongly recommend that investors review the GAAP financial measures and additional non-GAAP information included in our Annual Report on Form 10-K, including our consolidated financial statements and the notes thereto.

 

Adjusted operating expenses, adjusted operating income, adjusted operating margin, adjusted net income attributable to ICE common stockholders, adjusted diluted earnings per share and adjusted free cash flow for the periods presented below are calculated by adding or subtracting the adjustments described below, which are not reflective of our cash operations and core business performance, and their related income tax effect and other tax adjustments (in millions, except for per share amounts):

 

11

 

 

Adjusted Operating Income, Operating Margin and Operating Expense Reconciliation

(In millions)

(Unaudited)

 

   Exchanges
Segment
   Fixed Income
and Data
Services
Segment
   Mortgage
Technology
Segment
   Consolidated 
   Year Ended
December 31,
   Year Ended
December 31,
   Year Ended
December 31,
   Year Ended
December 31,
 
   2023   2022   2023   2022   2023   2022   2023   2022 
Total revenues, less transaction-based expenses  $4,440   $4,071   $2,231   $2,092   $1,317   $1,129   $7,988   $7,292 
Operating expenses   1,281    1,209    1,420    1,373    1,593    1,072    4,294    3,654 
Less: Amortization of acquisition-related intangibles   65    67    168    180    515    363    748    610 
Less: Transaction and integration costs                   269    91    269    91 
Less: Other   17                        17     
Adjusted operating expenses  $1,199   $1,142   $1,252   $1,193   $809   $618   $3,260   $2,953 
Operating income/(loss)  $3,159   $2,862   $811   $719   $(276)  $57   $3,694   $3,638 
Adjusted operating income  $3,241   $2,929   $979   $899   $508   $511   $4,728   $4,339 
Operating margin   71%   70%   36%   34%   (21)%   5%   46%   50%
Adjusted operating margin   73%   72%   44%   43%   39%   45%   59%   59%

 

12

 

 

Adjusted Operating Income, Operating Margin and Operating Expense Reconciliation

(In millions)

(Unaudited)

 

   Exchanges
Segment
  

Fixed Income

and Data
Services
Segment

   Mortgage
Technology
Segment
   Consolidated 
   Three Months
Ended
December 31,
   Three Months
Ended
December 31,
   Three Months
Ended
December 31,
   Three Months
Ended
December 31,
 
   2023   2022   2023   2022   2023   2022   2023   2022 
Total revenues, less transaction-based expenses  $1,136   $982   $563   $537   $502   $249   $2,201   $1,768 
Operating expenses   337    305    363    344    576    255    1,276    904 
Less: Amortization of acquisition-related intangibles   16    17    41    43    199    92    256    152 
Less: Transaction and integration costs                   68    12    68    12 
Adjusted operating expenses  $321   $288   $322   $301   $309   $151   $952   $740 
Operating income/(loss)  $799   $677   $200   $193   $(74)  $(6)  $925   $864 
Adjusted operating income  $815   $694   $241   $236   $193   $98   $1,249   $1,028 
Operating margin   70%   69%   36%   36%   (15)%   (2)%   42%   49%
Adjusted operating margin   72%   71%   43%   44%   39%   39%   57%   58%

 

13

 

 

Adjusted Net Income Attributable to ICE and EPS

(In millions)

(Unaudited)

 

  Twelve Months
Ended
December 31,
2023
   Twelve Months
Ended
December 31,
2022
 
Net income attributable to ICE common stockholders  $2,368   $1,446 
Add: Amortization of acquisition-related intangibles   748    610 
Add: Transaction and integration costs   269    91 
Less: Gain on sale and fair value adjustment of equity
investments
       (41)
Add: Net losses from and impairment of unconsolidated investees   122    1,340 
Add/(less): Net interest (income)/expense on pre-acquisition-related debt and debt extinguishment   (12)   89 
Add: Other   196    9 
Less: Net income tax effect for the above items
and deferred tax adjustments
   (309)   (579)
Add/(less): Deferred tax adjustments on acquisition-related intangibles   (126)   9 
Less: Other tax adjustments   (79)    
Adjusted net income attributable to ICE common stockholders  $3,177   $2,974 
           
Diluted earnings per share attributable to ICE common stockholders  $4.19   $2.58 
           
Adjusted diluted earnings per share attributable to ICE common stockholders  $5.62   $5.30 
           
Diluted weighted average common shares outstanding   565    561 

 

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Adjusted Net Income Attributable to ICE and EPS

(In millions)

(Unaudited)

 

   Three Months
Ended
December 31,
2023
   Three Months
Ended
December 31,
2022
 
Net income attributable to ICE  $373   $425 
Add: Amortization of acquisition-related intangibles   256    152 
Add: Transaction and integration costs   68    12 
Add: Net losses from and impairment of unconsolidated investees   31    188 
Add: Net interest expense on pre-acquisition-related debt and debt extinguishment       10 
Less: Other   156     
Less: Net income tax effect for the above items
and deferred tax adjustments
   (131)   (101)
Add: Deferred tax adjustments on acquisition-related intangibles   5    12 
Less: Other tax adjustments   2     
Adjusted net income attributable to ICE  $760   $698 
           
Diluted earnings per share  $0.65   $0.76 
           
Adjusted diluted earnings per share  $1.33   $1.25 
           
Diluted weighted average common shares outstanding   574    560 

 

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Adjusted Free Cash Flow Calculation

(In millions)

(Unaudited)

 

   Twelve Months Ended
December 31, 2023
   Twelve Months Ended
December 31, 2022
 
Net cash provided by operating activities  $3,542   $3,554 
Less: Capital expenditures   (190)   (225)
Less: Capitalized software development costs   (299)   (257)
Free cash flow   3,053    3,072 
Add/(Less): Section 31 fees, net   144    (166)
Adjusted free cash flow  $3,197   $2,906 

 

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About Intercontinental Exchange

 

Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds, and operates digital networks that connect people to opportunity. We provide financial technology and data services across major asset classes helping our customers access mission-critical workflow tools that increase transparency and efficiency. ICE’s futures, equity, and options exchanges -- including the New York Stock Exchange -- and clearing houses help people invest, raise capital and manage risk. We offer some of the world’s largest markets to trade and clear energy and environmental products. Our fixed income, data services and execution capabilities provide information, analytics and platforms that help our customers streamline processes and capitalize on opportunities. At ICE Mortgage Technology, we are transforming U.S. housing finance, from initial consumer engagement through loan production, closing, registration and the long-term servicing relationship. Together, ICE transforms, streamlines, and automates industries to connect our customers to opportunity.

 

Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located at http://www.intercontinentalexchange.com/terms-of-use. Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading “Key Information Documents (KIDS).”

 

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 - Statements in this press release regarding ICE's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in Intercontinental Exchange, Inc.’s Annual Report on Form 10-K for the year ended December 31, 2023, as filed with the SEC on February 8, 2024. We caution you not to place undue reliance on these forward-looking statements. Any forward-looking statement speaks only as of the date on which such statement is made, and we undertake no obligation to update any forward-looking statement or statements to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of an unanticipated event. New factors emerge from time to time, and it is not possible for management to predict all factors that may affect our business and prospects. Further, management cannot assess the impact of each factor on the business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements.

 

SOURCE: Intercontinental Exchange

 

ICE-CORP

 

ICE Investor Relations Contact:

Katia Gonzalez

+1 678 981 3882

katia.gonzalez@ice.com

 

investors@ice.com

 

ICE Media Contact:

Josh King

+1 212 656 2490

josh.king@ice.com

 

media@ice.com

 

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