Intercontinental Exchange ICE Business Segments
| Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | ||
|---|---|---|---|---|---|---|
| Revenues, less transaction-based expenses: by Business | ||||||
| Exchanges Segment | $1.78B+30.6% | $1.36B+7.8% | $1.27B-10.6% | $1.42B+3.5% | $1.37B+10.6% | |
| Fixed Income and Data Services Segment | $657M+8.1% | $608M-1.6% | $618M+3.5% | $597M+0.2% | $596M+2.9% | |
| Mortgage Technology Segment | $539M+1.3% | $532M+0.8% | $528M-0.6% | $531M+4.1% | $510M+0.4% | |
| Revenue from Contract with Customer, Excluding Assessed Tax by Business | ||||||
| Exchanges Segment | $2.47B+23.4% | $2B+7.6% | $1.86B-12.8% | $2.13B+0.5% | $2.12B+9.3% | |
| Fixed Income and Data Services Segment | $657M+8.1% | $608M-1.6% | $618M+3.5% | $597M+0.2% | $596M+2.9% | |
| Mortgage Technology Segment | $539M+1.3% | $532M+0.8% | $528M-0.6% | $531M+4.1% | $510M+0.4% | |
| Operating Income by Business | ||||||
| Exchanges Segment | $1.4B+40.4% | $999M+10.0% | $908M-14.5% | $1.06B+4.8% | $1.01B+12.3% | |
| Fixed Income and Data Services Segment | $275M+19.6% | $230M-5.7% | $244M+8.9% | $224M-4.7% | $235M+11.4% | |
| Mortgage Technology Segment | -$13M-263% | $8M-63.6% | $22M+100% | $11M+141% | -$27M+25.0% | |
| Other operating expenses by Business | ||||||
| Exchanges Segment | $315M+5.0% | $300M+2.4% | $293M+1.4% | $289M-0.3% | $290M+7.0% | |
| Fixed Income and Data Services Segment | $298M+2.8% | $290M+1.4% | $286M-0.3% | $287M+3.6% | $277M-2.8% | |
| Mortgage Technology Segment | $274M+1.9% | $269M+2.7% | $262M-1.1% | $265M+0.4% | $264M-7.4% | |
| Operating Expenses by Business | ||||||
| Exchanges Segment | $378M+3.6% | $365M+2.2% | $357M+1.1% | $353M-0.3% | $354M+6.0% | |
| Fixed Income and Data Services Segment | $382M+1.1% | $378M+1.1% | $374M+0.3% | $373M+3.3% | $361M-1.9% | |
| Mortgage Technology Segment | $552M+5.3% | $524M+3.6% | $506M-2.7% | $520M-3.2% | $537M-1.3% | |
| Acquisition-related transaction and integration costs by Business | ||||||
| Exchanges Segment | $1M0.0% | $1M— | $0— | $0-100% | $1M— | |
| Fixed Income and Data Services Segment | $0— | $0-100% | $2M— | $0— | $0— | |
| Mortgage Technology Segment | $40M+122% | $18M+157% | $7M-30.0% | $10M-67.7% | $31M+93.8% | |
| Foreign currency translation by Business | ||||||
| Exchanges Segment | -$10M-433% | $3M— | —— | $33M+154% | $13M+138% | |
| Fixed Income and Data Services Segment | -$1M— | —— | —— | $3M+200% | $1M+133% | |
| Mortgage Technology Segment | -$1M0.0% | -$1M0.0% | -$1M— | $0— | $0+100% | |
| Transaction-based expenses by Business | ||||||
| Exchanges Segment | $689M+8.0% | $638M+7.0% | $596M-17.1% | $719M-4.9% | $756M+6.9% | |
| Fixed Income and Data Services Segment | $0— | $0— | $0— | $0— | $0— | |
| Mortgage Technology Segment | $0— | $0— | $0— | $0— | $0— | |
| Goodwill by Business | ||||||
| Exchanges Segment | $8.17B-0.1% | $8.18B0.0% | $8.17B-0.1% | $8.18B+0.4% | $8.15B+0.2% | |
| Fixed Income and Data Services Segment | $4.86B0.0% | $4.86B0.0% | $4.86B0.0% | $4.86B0.0% | $4.86B+0.2% | |
| Mortgage Technology Segment | $17.61B0.0% | $17.61B0.0% | $17.61B0.0% | $17.61B0.0% | $17.61B0.0% | |
| D&A by Business | ||||||
| Exchanges Segment | $62M-3.1% | $64M0.0% | $64M0.0% | $64M+1.6% | $63M0.0% | |
| Fixed Income and Data Services Segment | $84M-4.5% | $88M+2.3% | $86M0.0% | $86M+2.4% | $84M+1.2% | |
| Mortgage Technology Segment | $238M+0.4% | $237M0.0% | $237M-3.3% | $245M+1.2% | $242M-0.4% | |
| Total revenues by Product | ||||||
| Agricultural and metals futures and options | $81M+52.8% | $53M+3.9% | $51M-21.5% | $65M+1.6% | $64M+18.5% | |
| Cash equities and equity options | $812M+7.1% | $758M+8.1% | $701M-16.7% | $842M-3.8% | $875M+6.6% | |
| CDS clearing | $112M+55.6% | $72M-20.0% | $90M+9.8% | $82M-12.8% | $94M+25.3% | |
| Closing solutions | $57M-5.0% | $60M+3.4% | $58M0.0% | $58M+23.4% | $47M-9.6% | |
| Data and analytics | $68M-2.9% | $70M+6.1% | $66M0.0% | $66M-1.5% | $67M+1.5% | |
| Data and connectivity services | $277M+4.1% | $266M+0.8% | $264M+3.5% | $255M+3.7% | $246M+7.0% | |
| Energy futures and options | $814M+48.5% | $548M+13.7% | $482M-19.0% | $595M+6.8% | $557M+16.8% | |
| Financial futures and options | $256M+65.2% | $155M+11.5% | $139M-12.0% | $158M+1.3% | $156M+3.3% | |
| Fixed income data and analytics | $322M+1.3% | $318M+2.3% | $311M+1.6% | $306M+2.3% | $299M-0.7% | |
| Fixed income execution | $31M+6.9% | $29M-12.1% | $33M+3.1% | $32M+3.2% | $31M-6.1% | |
| Listings | $128M+2.4% | $125M0.0% | $125M+1.6% | $123M+0.8% | $122M-0.8% | |
| Origination technology | $192M+2.1% | $188M0.0% | $188M+0.5% | $187M+6.9% | $175M-1.1% | |
| OTC and other | $102M+5.2% | $97M-2.0% | $99M+3.1% | $96M-6.8% | $103M+18.4% | |
| Servicing software | $222M+3.7% | $214M-0.9% | $216M-1.8% | $220M-0.5% | $221M+3.8% | |
| Total revenues, less transaction-based expenses by Product | ||||||
| Data services revenues | $514M— | —— | $495M+2.5% | $483M+2.5% | $471M— | |
| Recurring revenues | $401M— | —— | $391M-1.0% | $395M-0.5% | $397M— | |
| Contract With Customer, Liability, Including New Contract Revenue, Recognized by Product | ||||||
| Data Services and Other Revenue | $80M-20.8% | $101M+7.4% | $94M+28.8% | $73M-27.0% | $100M+7.5% | |
| Annual Listing Revenue | $128M+2.4% | $125M+0.8% | $124M0.0% | $124M+1.6% | $122M-0.8% | |
| Mortgage technology | $33M+6.5% | $31M-16.2% | $37M+2.8% | $36M-21.7% | $46M+2.2% | |
| Additions by Product | ||||||
| Data Services and Other Revenue | $169M+196% | $57M-1.7% | $58M-31.8% | $85M-38.8% | $139M+114% | |
| Annual Listing Revenue | $473M+3,842% | $12M-7.7% | $13M+44.4% | $9M-98.0% | $461M+3,446% | |
| Mortgage technology | $33M0.0% | $33M+10.0% | $30M-18.9% | $37M-2.6% | $38M-7.3% |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →Questions, answered.
- How does Intercontinental Exchange break its business down?
- Intercontinental Exchange (ICE) reports revenues, less transaction-based expenses: by business across 3 parts — Exchanges Segment, Fixed Income and Data Services Segment and Mortgage Technology Segment. Each is extracted from the segment footnotes and tracked over time.
- Where does Intercontinental Exchange's segment data come from?
- Segment breakdowns are pulled from the segment footnotes in Intercontinental Exchange's SEC filings (the XBRL dimensional tags), so every line ties back to a reported figure. Switch between quarterly, annual, and TTM, or open any segment for its full history.
