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+30.3% | $1.36B+10.4% | $1.27B+0.9% | $1.42B+13.6% | $1.37B+11.8% | |
| Fixed Income and Data Services Segment | $657M+10.2% | $608M+5.0% | $618M+5.5% | $597M+5.7% | $596M+4.9% | |
| Mortgage Technology Segment | $539M+5.7% | $532M+4.7% | $528M+3.7% | $531M+4.9% | $510M+2.2% | |
| Revenue from Contract with Customer, Excluding Assessed Tax by Business | ||||||
| Exchanges Segment | $2.47B+16.3% | $2B+3.0% | $1.86B-4.0% | $2.13B+16.9% | $2.12B+22.4% | |
| Fixed Income and Data Services Segment | $657M+10.2% | $608M+5.0% | $618M+5.5% | $597M+5.7% | $596M+4.9% | |
| Mortgage Technology Segment | $539M+5.7% | $532M+4.7% | $528M+3.7% | $531M+4.9% | $510M+2.2% | |
| Operating Income by Business | ||||||
| Exchanges Segment | $1.4B+38.5% | $999M+10.8% | $908M-4.1% | $1.06B+19.3% | $1.01B+12.9% | |
| Fixed Income and Data Services Segment | $275M+17.0% | $230M+9.0% | $244M+16.2% | $224M+7.7% | $235M+9.8% | |
| Mortgage Technology Segment | -$13M+51.9% | $8M+122% | $22M+141% | $11M+134% | -$27M+43.8% | |
| Other operating expenses by Business | ||||||
| Exchanges Segment | $315M+8.6% | $300M+10.7% | $293M+21.1% | $289M-1.7% | $290M+13.3% | |
| Fixed Income and Data Services Segment | $298M+7.6% | $290M+1.8% | $286M-2.7% | $287M+4.0% | $277M+1.1% | |
| Mortgage Technology Segment | $274M+3.8% | $269M-5.6% | $262M-8.7% | $265M-7.0% | $264M-5.7% | |
| Operating Expenses by Business | ||||||
| Exchanges Segment | $378M+6.8% | $365M+9.3% | $357M+16.3% | $353M-0.8% | $354M+8.6% | |
| Fixed Income and Data Services Segment | $382M+5.8% | $378M+2.7% | $374M-0.5% | $373M+4.5% | $361M+2.0% | |
| Mortgage Technology Segment | $552M+2.8% | $524M-3.7% | $506M-10.1% | $520M-3.3% | $537M-1.8% | |
| Acquisition-related transaction and integration costs by Business | ||||||
| Exchanges Segment | $1M0.0% | $1M— | $0— | $0— | $1M— | |
| Fixed Income and Data Services Segment | $0— | $0— | $2M— | $0— | $0— | |
| Mortgage Technology Segment | $40M+29.0% | $18M+12.5% | $7M-81.1% | $10M-33.3% | $31M-13.9% | |
| Foreign currency translation by Business | ||||||
| Exchanges Segment | -$10M-177% | $3M+109% | —— | $33M— | $13M+263% | |
| Fixed Income and Data Services Segment | -$1M-200% | —— | —— | $3M+400% | $1M— | |
| Mortgage Technology Segment | -$1M— | -$1M0.0% | -$1M— | $0— | $0— | |
| Transaction-based expenses by Business | ||||||
| Exchanges Segment | $689M-8.9% | $638M-9.8% | $596M-12.9% | $719M+24.0% | $756M+47.9% | |
| 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+0.2% | $8.18B+0.5% | $8.17B0.0% | $8.18B+0.4% | $8.15B0.0% | |
| Fixed Income and Data Services Segment | $4.86B0.0% | $4.86B+0.2% | $4.86B+0.1% | $4.86B+0.2% | $4.86B+0.2% | |
| Mortgage Technology Segment | $17.61B0.0% | $17.61B0.0% | $17.61B+0.2% | $17.61B+0.3% | $17.61B+0.3% | |
| D&A by Business | ||||||
| Exchanges Segment | $62M-1.6% | $64M+1.6% | $64M-1.5% | $64M+3.2% | $63M-10.0% | |
| Fixed Income and Data Services Segment | $84M0.0% | $88M+6.0% | $86M+4.9% | $86M+6.2% | $84M+5.0% | |
| Mortgage Technology Segment | $238M-1.7% | $237M-2.5% | $237M-0.8% | $245M+2.9% | $242M+4.8% | |
| Total revenues by Product | ||||||
| Agricultural and metals futures and options | $81M+26.6% | $53M-1.9% | $51M-15.0% | $65M-8.5% | $64M-11.1% | |
| Cash equities and equity options | $812M-7.2% | $758M-7.7% | $701M-11.4% | $842M+21.9% | $875M+43.4% | |
| CDS clearing | $112M+19.1% | $72M-4.0% | $90M-7.2% | $82M+5.1% | $94M+1.1% | |
| Closing solutions | $57M+21.3% | $60M+15.4% | $58M+7.4% | $58M+11.5% | $47M+6.8% | |
| Data and analytics | $68M+1.5% | $70M+6.1% | $66M+3.1% | $66M+6.5% | $67M0.0% | |
| Data and connectivity services | $277M+12.6% | $266M+15.7% | $264M+9.1% | $255M+6.3% | $246M+4.7% | |
| Energy futures and options | $814M+46.1% | $548M+14.9% | $482M+1.9% | $595M+26.9% | $557M+21.9% | |
| Financial futures and options | $256M+64.1% | $155M+2.6% | $139M-1.4% | $158M+19.7% | $156M+15.6% | |
| Fixed income data and analytics | $322M+7.7% | $318M+5.6% | $311M+5.4% | $306M+4.4% | $299M+3.8% | |
| Fixed income execution | $31M0.0% | $29M-12.1% | $33M+17.9% | $32M+6.7% | $31M+19.2% | |
| Listings | $128M+4.9% | $125M+1.6% | $125M+2.5% | $123M+0.8% | $122M0.0% | |
| Origination technology | $192M+9.7% | $188M+6.2% | $188M+3.3% | $187M+3.9% | $175M+0.6% | |
| OTC and other | $102M-1.0% | $97M+11.5% | $99M-9.2% | $96M-5.0% | $103M0.0% | |
| Servicing software | $222M+0.5% | $214M+0.5% | $216M+3.3% | $220M+3.8% | $221M+3.3% | |
| Total revenues, less transaction-based expenses by Product | ||||||
| Data services revenues | $514M+9.1% | —— | $495M+7.4% | $483M+5.7% | $471M+4.9% | |
| Recurring revenues | $401M+1.0% | —— | $391M+1.0% | $395M+2.1% | $397M+1.8% | |
| Contract With Customer, Liability, Including New Contract Revenue, Recognized by Product | ||||||
| Data Services and Other Revenue | $80M-20.0% | $101M+8.6% | $94M+19.0% | $73M-20.7% | $100M+1.0% | |
| Annual Listing Revenue | $128M+4.9% | $125M+1.6% | $124M+1.6% | $124M+1.6% | $122M0.0% | |
| Mortgage technology | $33M-28.3% | $31M-31.1% | $37M-22.9% | $36M-2.7% | $46M+17.9% | |
| Additions by Product | ||||||
| Data Services and Other Revenue | $169M+21.6% | $57M-12.3% | $58M-17.1% | $85M-18.3% | $139M-13.7% | |
| Annual Listing Revenue | $473M+2.6% | $12M-7.7% | $13M+8.3% | $9M-40.0% | $461M+0.2% | |
| Mortgage technology | $33M-13.2% | $33M-19.5% | $30M-25.0% | $37M+8.8% | $38M+18.8% |
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.
