Thanks to Frown88’s recommendation in one of his recent posts, I got to know of the Crossing Wall Street blog and an interesting counter which I thought would merit further investigation.

The interesting counter is Intercontinental Exchange (ICE), the company behind the New York Stock Exchange and several other exchanges.

The Business
According to their 2017 Annual Report, Intercontinental Exchange is one of the leading global operator of regulated exchanges, clearing houses and listing venues, and a provider of data services for commodity, fixed income and equity markets. The company consists of two different business segments: (a) Trading and Clearing segment, and (b) Data and Listing services.

Their Trading and Clearing segment includes various Derivative Exchanges (one of which is ICE Futures Singapore), OTC markets, Clearing Services (one of which is ICE Clear Singapore), and Security Exchanges (New York Stock Exchange, NYSE Arca). Their Data and Listings Segment include data services which provide pricing …