Exchange operator ICE profit jumps as trading volumes surge

Intercontinental Exchange Inc, which owns the New York Stock Exchange, reported a 34.3% rise in first-quarter profit on Thursday, helped by the coronavirus-fueled market volatility that led to a surge in trading volumes.

Net income attributable to the company rose to $650 million, or $1.17 per share, in the quarter ended March 31, from $484 million, or 85 cents per share, a year earlier. Total revenue, excluding transaction-based expenses, rose 22.7% to $1.6 billion.