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Futures exchange operator InterContinental Exchange(ICE Quote) on Friday reported first-quarter profits jumped 66% on record trading volume.
The exchange operator posted net income of $92.3 million, or $1.29 a diluted share, vs. $55.6 million, or 80 cents a diluted share in the year ago period. The results, which exclude a 2-cents-a-share charge from closing the futures pits at ICE Futures U.S., beat the $1.27-a-share consensus figure reported by Thomson Financial.
The total average daily volume for futures contracts was 863,325 in April, vs. 755,474 in April 2007. The commissions for InterContinental's global over-the-counter business skyrocketed 96% over last April. ...
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