Intercontinental Exchange Reports Solid Third Quarter Earnings Growth

Intercontinental Exchange (NYSE: ICE), the leading global network of exchanges and clearing houses and provider of global data and listing services, today reported financial results for the third quarter of 2016. For the quarter ended September 30, 2016, consolidated net income attributable to ICE was $344 million on $1.1 billion of consolidated revenues less transaction-based expenses. On a GAAP basis, diluted earnings per share (EPS) in the third quarter were $2.86. On an adjusted basis, net income was $385 million and diluted EPS were $3.21. Please refer to the reconciliation of non-GAAP financial measures included in this press release for more information on adjusted net income and adjusted diluted EPS.

"In 2016, we've grown revenue, margins and earnings while investing in our long term growth," said ICE Chairman and CEO Jeffrey C. Sprecher. "Our double digit earnings growth year to date is driven by serving the rising demand for risk management, data and for capital efficient solutions in the US, Europe and Asia as markets evolve, driven by regulation, automation and innovation."

Scott A. Hill, ICE CFO, said: "We generated $1.5 billion of operating cash flows through September, which enabled us to reduce our debt by $1 billion while growing our dividend compared to 2015, and we resumed our share repurchases in October of 2016. Our strategic approach to investing, ability to consistently generate operating efficiencies and disciplined allocation of capital has allowed us to generate growth in earnings and cash, diversify our business model, and deliver solid returns to our investors."

Third Quarter 2016 GAAP Results

Third quarter 2016 consolidated revenues, less transaction-based expenses, were $1.1 billion, including $261 million in revenues from Interactive Data and Trayport.

Trading and clearing segment revenues were $483 million, with trading and clearing revenues, less transaction-based expenses, of $439 million in the third quarter 2016, down 5% compared to the prior third quarter. Other revenue was $44 million.

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