Fixed Income and Data Services — Operating Expenses
Intercontinental Exchange Fixed Income and Data Services — Operating Expenses increased by 1.1% to $378.00M in Q4 2025 compared to the prior quarter. Year-over-year, this metric grew by 2.7%, from $368.00M to $378.00M. Over 4 years (FY 2021 to FY 2025), Fixed Income and Data Services — Operating Expenses shows relatively stable performance with a 2.4% CAGR. This increase may warrant attention — for this metric, lower values are generally preferred.
Analysis
How to read this metric
An increase may indicate strategic investment in technology or headcount to support growth, while a decrease suggests improved operational efficiency or cost-cutting measures.
Detailed definition
This metric represents the total costs incurred to operate the fixed income and data services business segment, includin...
Peer comparison
Comparable to SG&A or segment-specific operating expenses reported by other financial data providers and exchange operators.
ice_segment_fixed_income_and_data_services_operating_expensesHistorical 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 | $337.00M | $338.00M | $344.00M | $354.00M | $338.00M | $337.00M | $344.00M | $343.00M | $356.00M | $358.00M | $363.00M | $354.00M | $357.00M | $376.00M | $368.00M | $361.00M | $373.00M | $374.00M | $378.00M |
| QoQ Change | — | +0.3% | +1.8% | +2.9% | -4.5% | -0.3% | +2.1% | -0.3% | +3.8% | +0.6% | +1.4% | -2.5% | +0.8% | +5.3% | -2.1% | -1.9% | +3.3% | +0.3% | +1.1% |
| YoY Change | — | — | — | — | +0.3% | -0.3% | +0.0% | -3.1% | +5.3% | +6.2% | +5.5% | +3.2% | +0.3% | +5.0% | +1.4% | +2.0% | +4.5% | -0.5% | +2.7% |
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Frequently Asked Questions
- What is Intercontinental Exchange's fixed income and data services — operating expenses?
- Intercontinental Exchange (ICE) reported fixed income and data services — operating expenses of $378.00M in Q4 2025.
- How has Intercontinental Exchange's fixed income and data services — operating expenses changed year-over-year?
- Intercontinental Exchange's fixed income and data services — operating expenses increased by 2.7% year-over-year, from $368.00M to $378.00M.
- What is the long-term trend for Intercontinental Exchange's fixed income and data services — operating expenses?
- Over 4 years (2021 to 2025), Intercontinental Exchange's fixed income and data services — operating expenses has grown at a 2.4% compound annual growth rate (CAGR), from $1.35B to $1.49B.
- What does fixed income and data services — operating expenses mean?
- The total operating costs required to run the fixed income and data services business segment.