CDS clearing — Total revenues
Intercontinental Exchange CDS clearing — Total revenues decreased by 20.0% to $72.00M in Q4 2025 compared to the prior quarter. Year-over-year, this metric declined by 4.0%, from $75.00M to $72.00M. Over 4 years (FY 2021 to FY 2025), CDS clearing — Total revenues shows an upward trend with a 15.2% CAGR. This decline may warrant attention — for this metric, higher values are generally preferred.
Analysis
How to read this metric
An increase indicates higher trading activity or market participation in credit derivatives, while a decrease may signal reduced market volatility or a shift in hedging strategies by institutional clients.
Detailed definition
This metric represents the total gross revenue generated from credit default swap (CDS) clearing services provided to fi...
Peer comparison
Comparable to clearing and settlement revenue reported by other global exchange operators and central counterparty clearing houses (CCPs) that offer credit derivative services.
ice_segment_cds_clearing_total_revenuesHistorical Data
| Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $38.00M | $51.00M | $48.00M | $72.00M | $66.00M | $88.00M | $79.00M | $101.00M | $84.00M | $94.00M | $81.00M | $93.00M | $78.00M | $97.00M | $75.00M | $94.00M | $82.00M | $90.00M | $72.00M |
| QoQ Change | — | +34.2% | -5.9% | +50.0% | -8.3% | +33.3% | -10.2% | +27.8% | -16.8% | +11.9% | -13.8% | +14.8% | -16.1% | +24.4% | -22.7% | +25.3% | -12.8% | +9.8% | -20.0% |
| YoY Change | — | — | — | — | +73.7% | +72.5% | +64.6% | +40.3% | +27.3% | +6.8% | +2.5% | -7.9% | -7.1% | +3.2% | -7.4% | +1.1% | +5.1% | -7.2% | -4.0% |
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Frequently Asked Questions
- What is Intercontinental Exchange's cds clearing — total revenues?
- Intercontinental Exchange (ICE) reported cds clearing — total revenues of $72.00M in Q4 2025.
- How has Intercontinental Exchange's cds clearing — total revenues changed year-over-year?
- Intercontinental Exchange's cds clearing — total revenues decreased by 4.0% year-over-year, from $75.00M to $72.00M.
- What is the long-term trend for Intercontinental Exchange's cds clearing — total revenues?
- Over 4 years (2021 to 2025), Intercontinental Exchange's cds clearing — total revenues has grown at a 15.2% compound annual growth rate (CAGR), from $192.00M to $338.00M.
- What does cds clearing — total revenues mean?
- Total revenue earned from providing clearing and risk management services for credit default swaps.