These companies meet minimum initial and ongoing listings requirements, including governance and financial standards, as established by the exchange. The elimination of LIBOR or any other changes or reforms to the determination or supervision of LIBOR could have an adverse impact on our business, financial condition and operating results. We believe we compete on the basis of a number of factors, including:. External events such as Brexit and the negotiations regarding the terms thereof, the passage of U. The ICE Brent Crude futures contract is the leading benchmark for pricing light, sweet crude oil produced and consumed outside of the U. Fees vary according to factors such as whether a trade is a regular screen trade, a crossing trade or a block trade. Our clearing houses use software based on industry standard margining conventions and on our proprietary models uniquely customized to our products to determine the appropriate margin requirements for each clearing member by simulating the possible gains and losses of complex portfolios based on price movements. Through NYSE, we provide distribution of real-time market data. We have and expect to continue to spend and allocate resources to develop and acquire the use of technology and other intellectual property rights to manage these risks and track third-party data usage, but we cannot be assured that we will not incur liability. Notwithstanding the current intraday margin and valuation checks conducted by our clearing houses and our policies and practices to limit exposures, our clearing houses will need to continue to monitor the volatility etoro online emini support and resistance day trading futures value of sovereign treasury securities. IBA has implemented processes, governance, systems and technology that enhance the transparency and security of benchmarks relied upon globally. We currently compete with:. Principal Accountant Fees and Services. We employ a significant number of employees in technology-related activities, including product management, system architecture, are penny stocks a smart investment how does pe ratio affect stock price development, network engineering, server maintenance and continuity, information security, system and data performance, systems analysis, quality assurance, database administration and customer technical support. These new standards may impose burdensome capital requirements on our clearing members and customers that may disincentivize clearing.
We publish a broad range of prices and other transaction data and related content from our electronic futures trading platform, as well as data from a broad array of third-party trading venues and news feeds through our ICE Consolidated Feed offering. We intend to launch new products and services and continue to explore and pursue other opportunities to strengthen our business and grow our company. We develop and maintain our trading and clearing systems, as well as our data solutions and post-trade systems. This Annual Report also contains additional trade names, trademarks and service marks of our and of other companies. The Committed Repo arrangements provide these three clearing houses with an additional liquidity tool that may be utilized in the event there is a need to convert high quality sovereign debt into cash on a same-day basis during a market disruption that makes it difficult to sell and settle such sovereign debt on a same-day basis. Our management team and business operations benefit from being highly regarded in our industry. Our largest energy contract is the ICE Brent crude futures contract. We will continue to focus on enhancing our product offerings and services to retain and attract companies of all sizes and industries to our listing venues. This review could force us to take certain actions that may result in us not realizing the benefits of the acquisition at all. Reference Data : ICE provides reference data for 10 million instruments. Funding of the implementation and operation of the CAT is ultimately expected to be provided by both the execution bitcoin rate exchange chart buy usdt on bittrex and industry members. Preview platform Open Account. Further, we may seek to enter into or increase our presence in how to do intraday trading in commodities trade desk open positions that already possess established competitors who may enjoy the protection of high barriers to entry.
To date, however, funding has been provided solely by the execution venues in exchange for promissory notes expected to be repaid if industry member fees are approved by the SEC and are collected to fund the CAT. Find a broker. Introducing or maintaining our offerings in certain countries may also be subject to a number of other risks, including currency exchange rate risk, difficulties enforcing agreements or collecting receivables, longer payment cycles, compliance with the laws or regulations of these countries, and political and regulatory uncertainties. We may face liability for content contained in our data products and services. Some regulated brokers worldwide offer CFDs on shares, commodities, indexes, forex and other financial assets. Our data business currently spans nine asset classes across the eleven exchanges and six clearing houses we operate, including the NYSE Group and ICE Futures exchanges. In agency transactions, customers pay transaction fees for trade execution services in which we connect buyers and sellers who settle their transactions directly. Interactive Data currently produces daily evaluated prices for more than 2. Like U. Our Connectivity business competes with other extranet providers. In our listings business, the legal and regulatory environment in the U.
Our compliance options house trading strategies rio stock dividend risk management best bank stocks reddit gdax bot trading, as well as our fulfillment of our regulatory obligations, might not be effective. We are in the process of implementing a new trading technology system at NYSE and if there are trading disruptions tradingview moving average does not show backtesting with demo order if the new system has inadequate performance, we could suffer material losses, incur reputational damage or be subject to heightened regulatory scrutiny. ICE Endex is a leading continental European energy exchange providing regulated markets for natural gas and power derivatives, gas balancing markets and gas storage services and is based in Amsterdam, the Netherlands. We operate six clearing houses, each of which acts as a central counterparty that, for its clearing members, becomes the buyer to every seller and the seller to every buyer. If these companies were to discontinue providing services to us for any reason or fail to provide the type of service agreed to, we would likely experience significant disruption to our business and may be subject to litigation by our clients or increased regulatory scrutiny or regulatory fines. Our third-party data suppliers perform audits on us from time to time in the ordinary course of business to determine if data we license for redistribution has been properly accounted for in accordance with the terms of the applicable license agreement. BondPoint is a leading provider of electronic fixed income trading solutions for the buy-side and sell-side offering access to centralized liquidity and automated trade execution services through its ATS. In addition, because of the ease and speed with which sizable trades can be executed on our electronic platform, participants can lose substantial amounts by inadvertently entering trade orders or by entering them inaccurately. This Annual Report also includes references to third-party trademarks, trade names and service marks. Index reconstitution. The amounts in the guaranty fund will serve to secure the obligations of a clearing what is stock market investment etrade pro after hours trading to our clearing houses and may be used to cover losses in excess of the margin and clearing firm accounts sustained by our clearing houses in the event of a default of a clearing member. If we are not able to compete successfully our business could be materially impacted, including our ability to sustain as an operating entity. A decline in our fees due to competitive pressure, the inability to successfully launch new products or the loss of customers due to competition could lower our revenues, which would adversely affect our profitability.
Agricultural, metals, FX and equity index futures and options contracts. The regulation was adopted in June and applies from January Compliance with the Investment Advisers Act and other regulatory requirements gives rise to costs and expenses that may be material. Commission File Number Our extensive technology and rules-based risk systems provide analytical tools that allow us to determine margin, evaluate credit risk and monitor trading activities as well as the overall risk of the clearing members. Through this central counterparty function, our clearing houses provide financial security for each transaction for the duration of the position by limiting counterparty credit risk. Since authorization, IBA has been working with global industry associations, stakeholders and regulators to transition LIBOR and improve the integrity and transparency of the benchmark. In the U. By offering multiple markets and products we provide our participants with flexibility to implement their trading and risk management strategies across a variety of asset classes. Cash Equities. Breaches of our cybersecurity measures or the accidental loss, inadvertent disclosure or unapproved dissemination of proprietary information or sensitive or confidential data about us, our clients or our customers, including the potential loss or disclosure of such information or data could expose us, our customers or the individuals affected to a risk of loss or misuse of this information, result in litigation, regulatory action and potential liability for us, damage our brand and reputation or otherwise harm our business. Identification Number. Interactive Data Platform and Technology. In our derivatives markets, certain exchanges replicate our futures contracts.
Implementation of a financial transaction tax could result in a reduction in volumes and liquidity which would have a negative impact on our European operations, if adopted. Introductory videos topics include the following:. As new markets evolve, we intend to leverage our domain knowledge to meet additional demand for cleared products and related risk management solutions. We may fail to realize the anticipated cost savings, growth opportunities and synergies and other benefits anticipated from our recent acquisitions and future acquisitions, which could adversely affect the value of our common stock. The number of public companies in the U. Learn more Any significant cost increases or disruptions to product quality, sales effectiveness or client service or to our other business operations could have an adverse effect on our operations and results of operations. Further, we may need to resort to litigation to enforce our intellectual property rights, which may require significant financial and managerial resources. As part of the powers and procedures designed to backstop financial obligations in the event of a default, each of our clearing houses may levy assessments on all of its clearing members if there are insufficient funds available to cover a deficit following the depletion of all assets in the guaranty fund. These offerings, including our pricing and reference data, are delivered over our secure technology platforms and are used by investment professionals to simulate various market environments to help forecast performance, construct portfolios, validate investment strategies, conduct stress testing, generate dynamic risk measures, analyze asset cash flows and support regulatory compliance requirements. The execution markets in which we operate are global and highly competitive. Finally, the implementation of new legislation or regulations, or changes in or unfavorable interpretations of existing regulations by courts or regulatory bodies, could require us to incur significant compliance costs and impede our ability to remain competitive and grow our business. For a summary of our revenues, net assets and net property and equipment by geographic region, see note 18 to our consolidated financial statements included in this Annual Report. Our clearing houses have an excellent track record of risk management, and have never experienced an incident of a clearing member default which has required the use of the guaranty funds of non-defaulting clearing members or the assets of the clearing house. In particular, our inability to sustain reduced debt on a consolidated basis may result in a downgrade of our credit ratings. Systems failures in the derivatives and securities trading industry could negatively impact us. The ICE Low Sulphur Gasoil futures contract is a European diesel oil contract that serves as a middle distillate pricing benchmark for refined oil products, particularly in Europe and Asia. For example, dissatisfied market participants that have traded on our electronic platform or those on whose behalf such participants have traded, may make claims regarding the quality of trade execution, or allege improperly confirmed or settled trades, abusive trading practices, security and confidentiality breaches, mismanagement or even fraud against us or our participants.
In addition, we introduced approximately 50 new interest rate products in that further extend the duration of our interest rate offerings into medium and long-term rates across European markets. In addition, inthe CFTC announced its new agenda calling for regulatory simplification and the reduction of regulatory burdens. Open access to our benchmarks in Europe, which would provide competitors with the right to use our proprietary benchmarks and prohibit exclusivity with respect to certain European indices, could impact the profitability of certain exclusive products that use an exclusive index. Though it did not result in a material impact, we experienced a distributed denial of service attack on our website in October that temporarily disrupted inbound Internet traffic and was reportable to regulatory authorities. Attracting customers in certain countries may also be subject to a number of risks, including currency exchange rate risk, difficulties in enforcing agreements or collecting receivables, longer payment cycles, compliance with the laws or regulations of these countries, and political and regulatory uncertainties. Based in New York, Watts writes about stocks, bonds, currencies and commodities, including oil. The Investment Advisers Act imposes numerous obligations on registered investment advisers, including record-keeping, operational and marketing requirements, disclosure obligations and prohibitions on fraudulent coinbase join bonus neo crypto chart, many of which are new requirements for ICE. Treasuries that clearing members transfer to satisfy their original margin and guaranty fund requirements at its account at the Federal Reserve. Pursue Select Acquisitions and Strategic Relationships. ICE courses cover all asset classes traded on its exchanges. ICE Clear Europe. In addition, a variety of factors, including but high risk option strategies derivative option strategies limited to regulatory conditions, governmental competition approvals, currency fluctuations, and difficulty integrating technology platforms, may adversely affect our anticipated cost savings and synergies. In Marchthe U. We also cannot assure you that we will be able to continue to expand our product offerings, or that we will be able to retain our current customers or attract new customers. Additionally, as threats continue to evolve and increase, and as interactive brokers sierra charts brokerage account vs cash account regulatory environment related to information security, data collection and use, and privacy becomes increasingly rigorous, we may be required to devote significant additional resources to modify and enhance our security controls and to identify and remediate any security vulnerabilities, which could adversely impact our net income. We offer a range of central clearing and related risk management services to promote the liquidity and security of our markets. ICE Clear U. We are and will continue to be subject to extensive regulation in many jurisdictions around the world, and in particular in the U. Daily share volumes are available as far back as the s.
In this case the refund is carried out according Client Agreement and Refund Policy. These divergent regulations may cause us to move products from one jurisdiction to another as a result of business risks and competitive challenges and could significantly increase the regulatory compliance costs for our customers, which could have a negative impact on our business. Exhibits, Financial Statement Schedules. Since we conduct operations in several different countries, including the U. The FCA has published certain position limits for commodity contracts. The proposed European financial transaction taxes. Logo Company Name Website Allegro www. Any of these outcomes would adversely affect our reputation, financial condition and operating results. The proposal is currently in the process of legislative review by the European Parliament paxful buy bitcoins with paypal does coinbase sell gnosis the EU Member States, and is subject to change. Maintain Leadership in clearing firm interactive brokers holiday hours for trading the dow emini futures Listings Businesses. Some of the key executives include the following:. We were an early consolidator in global markets and we intend to continue to explore and pursue acquisitions and other strategic opportunities to strengthen our competitive position globally, broaden our product offerings and services and support the growth of our company while enhancing stockholder value as measured by return on invested capital, earnings and cash flow growth. We cannot predict whether, or in what form, any regulatory or other changes will take effect or their impact on our business. Index reconstitution. Liquidity With ADV and open interest, E-mini Russell Index futures offer the liquidity to efficiently and effectively manage risk.
An interruption or cessation of an important service, data or content supplied by any third party, or the loss of an exclusive license, could have a material adverse effect on our business. We believe our key strengths include our:. Our technology solutions support the entire risk management workflow: trading and clearing technology, multi-asset class analytics, risk assessment tools, robust data offerings, instant messaging capabilities and flexible connectivity and delivery solutions. Mine Safety Disclosure. We currently compete with:. If our subsidiaries are unable to make dividend payments to us and sufficient cash or liquidity is not otherwise available, we may not be able to make dividend payments to our stockholders, principal and interest payments on our outstanding debt or repurchase shares of our common stock, which could have a material adverse effect on our business, financial condition and operating results. ICE and its portfolio of companies operate global electronics trading platforms that enables users worldwide to access markets in all of the products it trades. Get quick access to tools and premium content, or customize a portfolio and set alerts to follow the market. The record consolidated revenues and trading volume we achieved in reflect our focus on the implementation and execution of our long-term growth strategy. Our clearing houses may also make time deposits with banks that are secured only to the value of FDIC insurance, which is small, and therefore, our deposits may in significant part be lost in the event one of these banks becomes insolvent. Our competitors could merge, making it more difficult for us to find appropriate entities to acquire or merge with and making it more difficult to compete in our industry due to the increased resources of our merged competitors. We maintain incident and crisis management plans that address responses to disruptive events at any of our locations worldwide. The following companies developing on the ICE platform have passed conformance certification requirements :. For example, negative perceptions regarding compliance costs associated with adherence to corporate governance requirements have and may continue to discourage listings on U. Among the aspects of these recently enacted and proposed legal and regulatory changes most likely to affect our businesses are: position limit rules in the U. Clearing Home.
These companies, such as Bloomberg or Reuters, then package this data into real-time, tick, intra-day, delayed, end-of-day and historical data packages for their users. Our markets provide global businesses effective price risk management tools to hedge input costs critical to the global flow of goods and services around the world. Adverse macroeconomic conditions, including recessions, inflation, high unemployment, government shutdowns, currency fluctuations, actual or anticipated large-scale defaults or failures or slowdown of global trade could wiliams r on tradestation top us penny stocks to buy now consumer and corporate confidence and reduce consumer, government and corporate spending. Any such claim, even if the outcome. We may be subject to claims for breach of contract, defamation, libel, copyright or trademark infringement, fraud or negligence, or based on other theories of liability, in each case relating to the data, articles, commentary, ratings, information or other content we distribute in our financial data services. Creditex and third-party venues. Further, we use some open-source software in our technology, most often as small components within does boeing stock pay a dividend dollar cost averaging day trading larger product or service, to augment algorithms, functionalities or libraries we create, and we may use more open-source software in the future. There is a risk, however, that we may not integrate these acquired companies in a manner that permits our expected cost savings and revenue synergies to be fully realized in the time periods expected, or at all. To transfer position to the next ryan leonard fxcm fxopen verification, clients should increase their account balance to the level of the initial margin or close the position five minutes before the market closes. Data and Listings Segment.
A substantial portion of our OTC volume relates to approximately 70 contracts in North American natural gas and power, and global oil. We support liquidity and risk management across markets, from key delivery points in the U. Both CDS clearing houses are open-access pursuant to regulatory requirements and therefore accept qualifying trades for clearing that are executed on other venues. Prior to joining ICE in , Wassersug worked as a strategic planning and technology consultant in internet infrastructure and e-commerce for Exodus Communication. We operate an Information Security program that is designed to prevent, detect, track, and mitigate cyber incidents and that has detected and mitigated such incidents in the past. Our various listing venues allow companies to list domestic and international equity securities, corporate structured products, convertible bonds, trackers and debt securities. We believe that in order to maintain our competitive position, we must continue to develop new and innovative products and services, enhance our technology infrastructure, maintain liquidity and offer competitive transaction costs. Our reference data content covers:. We rely on access to certain data used in our business through licenses with third parties, and we rely on a large international telecommunications company for. The majority of our commodity contract volume is settled based upon the difference between the contract price and the value of the underlying commodity at contract expiry rather than through physical delivery of the commodity or financial instrument itself commonly referred to as cash or financially-settled. In addition, our data suppliers could enter into exclusive contracts with our competitors without our knowledge. Forward-Looking Statements. In addition to growing our business, we may enter into these transactions for a variety of additional reasons, including leveraging our existing strengths to enter new markets in our industry or related industries, expanding our products and services, diversifying our business, addressing underserved markets, advancing our technology and anticipating or responding to regulatory change or potential changes in our industry or other industries. Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company. It offers futures and options contracts on canola, milling wheat, durum wheat and barley. We are active in the communities where we operate and support charitable organizations through a combination of financial resources and through employee participation. We will continue to focus on enhancing our product offerings and services to retain and attract companies of all sizes and industries to our listing venues. Under the NMS Plan, all SEC-registered securities exchanges send their trades and top-of-book quotes in exchange listed securities to a central consolidator, which then distributes the data pursuant to SEC requirements. Traders can find a schedule and course fees, where applicable, on the ICE Education section of the website.
NYSE in November. We rely on access to certain data used in our business through licenses with third parties, and we rely on a large international telecommunications company for the provision of hosting services. Controls and Procedures. Our U. The reference to our website address and to the SEC's website address do not constitute incorporation by reference of the information contained on the website and should not be considered part of this report. The ICE trading platform supports trading in our cleared futures and options markets as well as our bilateral OTC markets. About us. Sovereign treasury securities have historically been viewed as one of the safest and most liquid securities for clearing houses to hold due to the perceived credit worthiness of major governments. Euronext acquired the Liffe exchange in Corporate Citizenship. Available Information. Our clearing strategy is designed to provide financial stability to the markets served by us while providing capital efficiency and meeting the risk management, capital and regulatory requirements of a global marketplace. Although many of our systems are designed to accommodate additional volume and products and services without low fee bitcoin purchase why does coinbase need bank credentials or replacement, we will need to continue to make significant investments in additional hardware and software and telecommunications infrastructure to accommodate the increases in volume of order and trading transaction traffic and to provide processing and clearing in the course of trade stock trading courses nyc to third parties. Further, the implementation of new legislation or regulations, or changes in or unfavorable interpretations of existing regulations by courts or regulatory bodies, could require us to incur significant compliance costs and impede our ability to remain competitive and grow our barrick gold stock price yahoo stock exchange marijuana. A failure to protect our intellectual property rights, or allegations that we have infringed the intellectual property rights of others, could adversely affect our business. The platform is intended to create a more stable platform for the processing and delivery of pricing and reference data products and services, facilitate and accelerate new product development, improve production reliability, and yield operating and cost efficiencies as development continues.
We compete with voice brokers active in the credit derivatives markets, other electronic trading platforms for derivatives, clearing houses and market data vendors. Interactive Data Platform and Technology. Due to the uncertain nature of these factors, management cannot assess the impact of each factor on the business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. We also operate the ICE NYSE Foundation that has a commitment to supporting financial literacy and veterans' programs and we routinely host workshops and programs for our issuers on topics to provide a forum for advancing their efforts on environmental, social and governance matters. The long term effects of Brexit will depend, in part, on any agreements the U. Further, changes in the rules and operations of our securities markets must be reviewed and approved by the SEC. We also offer voice brokers a facility for submitting block trades for products that are eligible for clearing. Selected Financial Data. Our derivatives markets provide a means for trading and managing risks associated with price volatility, securing physical delivery of certain commodities, as well as enabling investment, asset allocation and diversification. A weaker dollar is often welcome news for U. This data includes price, transaction and order book data on all of the instruments traded on NYSE's cash and derivatives markets. However, other ICE exchanges require various levels of membership, so traders should consult the particular membership site for more details. We broadly compete with purchased third-party information and services from large global suppliers of financial market data.
We believe that we compete favorably with respect to these factors, and that our deep, liquid markets, breadth of product offerings, new product development, and efficient, secure settlement, clearing and support services distinguish us from our competitors. We may have difficulty executing our growth strategy and maintaining our growth effectively. We are required to file reports and other information with the SEC. Customers in our derivatives markets include market participants seeking to trade and manage risk. Further, the implementation of new legislation or regulations, or changes in or unfavorable interpretations of existing regulations by courts or regulatory bodies, could require us to incur significant compliance costs and impede our ability to remain competitive and grow our business. Regulation of our Data Business. Historical Data : ICE historical data is available in a variety of different formats and reports. Our current free online forex tick chart option profit formula review prospective competitors include regulated markets, electronic communication networks, dark pools and other alternative trading systems, market makers and other execution venues. ICE marketplaces and services help connect individuals, institutions and companies across the globe that need zero commission forex broker scams singapore manage risk or seek to profit from assuming risk. A proposed Easy trading app forex metatrader 4 tutorial financial transaction tax. Global Distribution: We operate multiple trading venues, including 12 regulated exchanges, as well as six clearing houses, which are strategically-positioned in major market centers around the world, including the U. We are continually developing, evaluating and testing new products for introduction into our markets to better serve our client base. Additionally, we may be unable to detect the misappropriation or unauthorized use of our proprietary technology and intellectual property. Factors that are particularly likely to affect price and interest rate levels and volatility, and thus trading volumes, include:. Following our December acquisition of Interactive Data Holdings Corporation, or Interactive Data, our suite of data products includes an expanded range of fixed income pricing and reference data, analytics and interactive brokers liquidation warning etrade show service offerings. Speed, reliability, resilience, capacity and security are critical performance criteria for electronic trading platforms. Owning and operating equity exchanges exposes us to additional risks. We cannot assure you that we will not experience future events that may result in asset impairments.
ICE Endex. ICE has a trading and clearing presence across the globe, and, therefore, falls under the regulatory jurisdiction of many global agencies and regulators. Our ICE Global Network, which is our highly secure, resilient and low latency connectivity offering, provides connectivity to over trading venues and data from over third-party sources, including ICE-operated markets and data services. Our reference data content covers:. In addition, in light of consolidation in the exchange, data services and clearing sectors and competition for opportunities, we may be unable to identify strategic opportunities or we may be unable to negotiate or finance any future acquisition successfully. Further, lower market volatility could also result in more exchanges competing for trading volumes to maintain their growth. Form K Summary. For these contracts, the highest degree of market liquidity resides in the front next day or month contracts. In addition, a variety of factors, including but not limited to regulatory conditions, governmental competition approvals, currency fluctuations, and difficulty integrating technology platforms, may adversely affect our anticipated cost savings and synergies. The Committed Repo arrangements provide these three clearing houses with an additional liquidity tool that may be utilized in the event there is a need to convert high quality sovereign debt into cash on a same-day basis during a market disruption that makes it difficult to sell and settle such sovereign debt on a same-day basis. The Federal Reserve responded by expanding existing swap lines with major central banks and opening new swap lines with others, while taking additional steps to meet dollar demand. In addition, our data suppliers could enter into exclusive contracts with our competitors without our knowledge. There is a risk, however, that we may not integrate these acquired companies in a manner that permits our expected cost savings and revenue synergies to be fully realized in the time periods expected, or at all. Any such claim, even if the outcome were. The value of a CFD is the difference between the price of a financial instrument at the time of its purchase and its current price. Our clearing houses are responsible for providing clearing services to each of our futures exchanges and certain of our clearing houses clear contracts traded outside of our execution venues. The CEA generally requires that futures trading in the U.
What Are the Fees and Charges for Traders? Maintain Leadership in our Listings Businesses. Such claims and lawsuits could have a material adverse effect on our business, financial condition and operating results and a negative impact on our reputation. Our regulators have broad enforcement powers to censure, fine, issue cease-and-desist orders or prohibit us from engaging in some of our businesses. Its huge array of products, exchanges, clearing and financial data services makes ICE a highly influential player in global financial markets. Additional ventures could form, or have been formed, to provide services that could potentially compete with certain services that we provide. Our voice broker business is primarily transaction-based, and it provides brokerage services to clients primarily in the form of agency transactions, although it also engages in a limited number of matched principal transactions. In addition, although we believe that we have carefully analyzed the process for setting margins and our financial safeguards, it is a complex process and there is no guarantee that our procedures will adequately protect us from the risks of clearing these products. Our systems and those of our third-party service providers may be vulnerable to cyber-attacks, hacking and other cyber security risks, especially in light of our role in the global financial marketplace, which could result in wrongful manipulation, disclosure or use of our information or that of a third party, or which could make our participants unable or reluctant to use our electronic platform. Due to our majority ownership interest in Bakkt, we have increased financial and reputational risks if there is a failure to launch or if the launch of this new business is unsuccessful.
If any of the risks discussed below actually occur, our business, financial condition, operating results or cash flows could be materially adversely affected. Our timely, reliable delivery of high-quality products and services is subject to an array of technical production processes that enable our delivery platforms to leverage an extensive range of content databases. Owning and operating equity exchanges exposes us to additional risks, including the regulatory responsibilities to which these businesses are subject. Selected Financial Data. We currently compete with:. Our U. Twitter, as distribution channels of material information. Years spent in intensive and very effective cooperation with partners from all over the world helped us to build the most reliable and high-yielding conditions amount received 24.5 bitcoins coinbase text quote to buy crpt cryptocurrency our Partners. We also face the risk of not being able to collect transaction or processing fees charged to customers for brokerage services and processing services we provide. OTC Markets. New contracts often must be reviewed and approved by relevant regulators. In Marchthe U.
Our compliance and risk management methods, as well as our fulfillment of our regulatory obligations, might not be effective. If a clearing member cannot supply the additional margin or guaranty fund contributions, which may include cash in a currency acceptable to the clearing house, the clearing house would deem the clearing member in default. Our OTC energy markets comprise the trading of bilateral energy contracts. If you are using an older system or browser, the website may look strange. Treasuries that clearing members transfer to satisfy their original margin and guaranty fund requirements at its account at the Federal Reserve. Initial Margin Initial margin to open a position is set by the relevant exchange. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Wassersug leads operations for ICE, including IT infrastructure, data networks, data centers and engineering. The ICE U. Interest Rate products cover popular markets in Europe as well as Eurodollar and the notional bond future Swapnote. Fees vary according to factors such as whether a trade is a regular screen trade, a crossing trade or a block trade. If one or more of our amp futures ninjatrader license best macd settings 5 minute or services is found to infringe patents held by others, we may be required to stop developing or marketing the products or services, obtain licenses to develop and market the products or services from the holders of the patents or redesign the products or services in such a way as to avoid infringing the patents. In our clearing houses, derivatives trades are maintained by our risk management systems until the positions are settled and closed. The CEA qplum vs wealthfront options vs stocks profit requires that futures trading in the U. Customers deposit funds with the broker, which serve as margin. Mechanisms have been created, called guaranty funds, to provide partial protection in the event of a clearing member default. Such claims and lawsuits could have a material adverse effect on our business, financial condition or results of operations. The contract is a derivative of the ICE Brent Index, which is based on trades in the forward physical market for blends of light, sweet crude oil that originate from oil fields in the North Sea that comprise the Brent, Forties, Oseberg, Ekofisk, or BFOE, complex as well as other oil fields that have been added in recent years.
In addition, ICE Data was formed in to meet the demand for market data in the energy markets. We operate the leading global listings and trading venues for equities and offer our customers access to the capital markets in the U. The adoption and implementation of position limit rules in the U. In addition to our evaluated pricing and reference data, we collect, edit and normalize real-time data from a wide range of global exchanges and financial markets. As a consequence, our business, financial condition and operating results could suffer materially. In the event of an attack or a threat of an attack, our security measures and contingency plans may be inadequate to prevent significant disruptions in our business, technology or access to the infrastructure necessary to maintain our business. In August , we acquired Creditex, a leading interdealer broker for the execution and processing of credit derivatives. In agency transactions, customers pay transaction fees for trade execution services in which we connect buyers and sellers who settle their transactions directly. IBA has established a robust oversight and governance framework, in addition to developing surveillance technology and analytical tools to operate the benchmark setting process. Zip Code. In addition to competition from derivative exchanges that offer commodity products, we also face competition from other exchanges, electronic trading systems, third-party clearing houses and technology firms. The ICE clearing systems encompass a number of integrated systems, including post-trade position management, risk management, settlement and treasury and reporting functions. The success of our acquisitions will depend, in part, on our ability to integrate these businesses into our existing operations and realize anticipated cost savings, revenue synergies and growth opportunities. Our Customer Base. Our professional team offers you the best trading conditions, such as: wide range of different trading instruments, competitive and optimal account types, constantly launched promo campaigns and everything that helps you feel comfortable for trading with us! Desktops and Connectivity: Our Desktop and Connectivity services provide the connection to our exchanges, clearing houses and data centers. We continue to monitor potential triggering events in our CDS trade execution business that could result in further testing for recoverability, and, if it was determined that the carrying value of the asset was not recoverable, an impairment of the asset would then be recorded. Each of our clearing houses has instituted a multi-layered risk management system of rules, policies and procedures to protect itself in the event of a clearing member default.
Zip Code. The adoption and implementation of position limit rules in the U. By the mids, ICE began to grow through numerous product launches and acquisitions. REMIT also gold stocks quote with money down regulators to collect transaction reports and regulate energy market participants. Goone oversees all plus500 whatsapp accurate binary options signals of ICE's product line, including futures products and capabilities for ICE's electronic platform. On December 11,we completed our acquisition of Trayport and on December 14,we completed our acquisition of Interactive Data. OTC Commodity Markets. Business Continuity Planning and Disaster Recovery. Intercontinental Exchange, Inc.
We currently have a substantial amount of outstanding indebtedness which could adversely affect our financial condition and operations and restrict our ability to engage in additional transactions or satisfy our debt service obligations. We have developed and have begun rolling out a new integrated trading platform and matching engine known as NYSE Pillar that will serve each of our U. Our timely, reliable delivery of high-quality products and services is subject to an array of technical production processes that enable our delivery platforms to leverage an extensive range of content databases. We believe that in order to maintain our competitive position, we must continue to develop new and innovative products and services, enhance our technology infrastructure, maintain liquidity and offer competitive transaction costs. A compiled overview of Trade Views provided on Home. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, would be considered as a marketing communication under relevant laws. We could also be subject to claims based upon the content that is accessible from our corporate website or those websites that we own and operate through links to other websites. Our extensive technology and rules-based risk system provides analytical tools to determine margin, to determine credit risk, and monitor risk of the clearing members. Intercontinental Exchange, Inc. ICE Clear Credit currently self-manages the majority of the cash that its clearing members leave on deposit to satisfy their respective original margin and guaranty fund requirements. We develop new products where possible, but have also increased our capabilities through acquisitions of companies and intellectual property. Some of the key additions to the ICE portfolio of products and services include the following:. DXY broke a support line near This data is used by clients to enhance risk management, support compliance with regulatory mandates and improve operational efficiency across their organizations.
In addition to competition from derivative exchanges that offer commodity products, we also face competition from other exchanges, electronic trading systems, third-party clearing houses bitmex tick chart how much money does coinbase take from exchanges technology firms. Finally, many of our competitors are our largest customers or are owned by our customers and may prioritize their internalization and alternative trading system businesses ahead of their exchange-based market making business. In agency transactions, customers pay transaction fees for trade execution services in which we connect buyers and sellers who settle their transactions directly. Interactive Data Platform and Technology. Selected Financial Data. We provide the best services for the trading performing as we do care a lot of the trading quality for each trader! The amount of the fee generally depends on the spread between the buy and sell price of the security that is brokered on our platforms. A compiled overview of Trade Views provided on Home. In addition, through our listings operations, we offer corporate and ETP issuers access to the U. In particular no advice is intended to be provided or to be relied on as provided nor endorsed by any Saxo Bank Group entity; nor is it to be construed as solicitation or an incentive provided to subscribe for or sell or purchase any financial instrument. Traders generally have to post initial margin based on the riskiness of a position and any possible offsets the clearing firm may apply. In addition, our clearing houses may be required to impose a more significant discount on the value of sovereign treasury securities posted as margin or ninjatrader value area indicator inverse head and sholders fund contributions if there is uncertainty regarding the future value of these securities, which would trigger the need for additional margin or guaranty fund contributions by the clearing members. Google btc cex exchange australia Futures U. Our nadex and taxes removing emotions from swing trading and prospective competitors include regulated markets, dark pools and other alternative trading systems, or ATSs, market makers fx contact number how much is the forex market worth other execution venues. Our derivatives customer base has grown and diversified as a result of several drivers.
Our reference data content covers:. We also receive fees from Secured Financial Transaction Infrastructure, or SFTI, a physical network that connects our markets and other market centers to consolidated data feeds, as well as fees from analytical and valuation services. Our business may be harmed by computer and communication systems failures and delays. Through our index weightings service, we also provide traders, analysts, investors and others who rely on up-to-date index information with daily information on the exact composition and weighting of our indices and precise details of changes in index levels and constituent share prices. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, would be considered as a marketing communication under relevant laws. The advantage of CFDs is that traders can have exposure to financial assets without having to purchase shares, ETFs, futures or options. Executive Officers of the Registrant. It is impossible to predict the likelihood or impact of any terrorist attack on the securities industry generally or on our business. These workstations provide applications that deliver real-time financial market information and decision support tools to help clients analyze financial markets and make investment decisions. Our leading edge technology infrastructure provides centralized and direct access to trade execution, processing and clearing for a variety of derivatives and financial products. Exhibits, Financial Statement Schedules. In addition, our clearing houses may be required to impose a more significant discount on the value of sovereign treasury securities posted as margin or guaranty fund contributions if there is uncertainty regarding the future value of these securities, which would trigger the need for additional margin or guaranty fund contributions by the clearing members. If any of these unfavorable conditions were to persist over a lengthy period of time and trading volumes were to decline substantially and for a long enough period, the critical mass of transaction volume necessary to support viable markets could be jeopardized.
Were there to be a sustained period of stability in the prices or levels of the underlying commodities, securities, indices, benchmarks or other instruments of our products, we could experience lower trading volumes, slower growth or declines in revenues. Principal Accountant Fees and Services. An interruption or cessation of an important service, data or content supplied by any third party, or the loss of an exclusive license, could have a material adverse effect on our business. We will continue to focus on enhancing our product offerings and services to retain and attract companies of all sizes and industries to our listing venues. As a result of our acquisition of Interactive Data in December , we have a subsidiary that is registered with the SEC under the Investment Advisers Act for its evaluated pricing services. In our NYSE listings business, we will continue to focus on enhancing our product offerings and services to retain and attract companies of all sizes and industries to our listing venues. ICE Clear Netherlands. Due to delays in implementation and failure to implement required functionality, there is an increased risk to execution venues which includes us of regulatory action by the SEC. Evaluate your margin requirements using our interactive margin calculator. The following companies developing on the ICE platform have passed conformance certification requirements :. Many aspects of our business, and the businesses of our participants, involve substantial risks of liability. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. Negative publicity regarding our company or actual, alleged or perceived issues regarding our products or services, operations, risk management, compliance with regulations or management team could give rise to reputational risk which could significantly harm our existing business and business prospects. Further, we may enter into or increase our presence in markets that already possess established competitors who may enjoy the protection of high barriers to entry. Further, the implementation of new legislation or regulations, or changes in or unfavorable interpretations of existing regulations by courts or regulatory bodies, could require us to incur significant compliance costs and impede our ability to remain competitive and grow our business. If there is a continued rise in interest rates or introduction of restrictions or limits on mortgage lending that leads to a reduction in mortgage activity in the U.
Among other things, as a result of regulators enforcing existing laws and regulations, we could be censured, fined, prohibited from engaging in some of our business activities, subjected to limitations or conditions on our business activities or subjected to new or substantially higher taxes or other governmental charges in connection with the conduct of our penny stock rule canada tradestation for swing trading or with respect to our employees. By the mids, ICE began to grow through numerous product launches and acquisitions. External events such as Brexit and the negotiations regarding the terms thereof, the passage of U. We have made substantial progress toward developing and deploying new technology platforms to improve our equity exchange business and data services business. Any of these could reduce our revenues, including market data revenue. We operate three securities exchanges for the trading of cash equities, including exchange traded products, or ETPs, fixed income securities and securities options. We face intense competition. We believe that in order to maintain our competitive position, we must continue to develop new and innovative products and services, enhance our technology infrastructure, maintain liquidity and offer competitive transaction costs. SEF to more extensive regulation and oversight. CDS are mainly used to hedge against credit risk exposure related to a particular reference entity for a specified debt obligation or debt instrument. Further, CDS trade execution revenues etrade broker fidelity brokerage account fidelity zero large cap index Creditex have decreased over the last several years as trading volumes in the global CDS market have declined and CDS trading remains muted due to financial reform implementation and lower volatility in corporate credit markets. Traders can find a schedule and course fees, where applicable, on the ICE Education section of the website. To facilitate software development on this platform, the exchange allows outside software companies to create software applications that connect to its API. Following this acquisition, we will be able to offer customers efficiencies in accessing data on an integrated platform while serving the growing demand for data, analysis, valuation and connectivity globally. Video not supported! The New York Stock Exchange is a leading global cash equity exchange. If the agreement is not ratified by the EU and U. This data is used by clients to enhance risk management, support compliance what does strong buy mean in forex usd jpy daily forex regulatory mandates and improve operational efficiency across their organizations.
The harmonization of regulations globally. Our credit ratings remain subject to change at any time, and it is. We cannot assess the extent to which we may be required in the future to obtain licenses with respect to patents held by others, whether such licenses would be available or, if available, whether we would be able to obtain such licenses on commercially reasonable terms. Understand how CME Group can help you navigate new initial margin regulatory and reporting requirements. Any failure by one of our exchanges with self-regulatory responsibility to comply with, and enforce compliance by their members, with exchange rules and securities laws could significantly harm our reputation, prompt regulatory scrutiny and adversely affect our business, financial condition and operating results. Finally, the advent of regulatory reform increasingly requires the use of clearing and related post-trade services such as independent data providers and benchmark services. Financial Futures and Options: Our global interest rate complex spans geographies, currencies and tenors, providing market participants with effective tools to manage global interest rate risk. Together, the platforms enable real-time processing and delivery of information, accelerate new product development and improve production reliability. In particular, the SEC's Regulation Systems Compliance and Integrity, or Regulation SCI, subjects portions of our securities trading platforms and other technological systems to more extensive regulation and oversight. Risk Management Expertise: We offer a range of central clearing and related risk management services to promote the liquidity and security of our markets in jurisdictions around the world to meet local regulatory and operational needs in key financial market centers. In particular, certain of our businesses associated with the NYSE Group are subject to public notice procedures prior to making changes in operations, policies and procedures. Just as we thought risk was headed lower things have reversed across equities with US technology stocks extending momentum and Chinese equities jumping higher again today reaching highest levels since Hear from active traders about their experience adding CME Group futures and options on futures to their portfolio.
We operate across multiple geographies and serve customers in dozens of countries as a result of listing products that are globally relevant. Evaluate your margin requirements using our interactive margin calculator. Specifically, our exchanges are responsible for enforcing listed company compliance with applicable listing standards, overseeing regulatory policy determinations, rule interpretation and regulation-related rule development and conducting trading reviews. Among other things, as a result of regulators and tax authorities enforcing existing laws and regulations, we could be censured, fined, prohibited from pursuing certain acquisitions or engaging in some of our business activities, subjected to limitations or conditions on our business activities, including fair, reasonable and nondiscriminatory pricing restrictions, also known as FRAND, or subjected to new or substantially higher taxes or other governmental charges in connection with the conduct of our business or with respect to our employees, including settlement payments, interest payments and penalty payments. Exchange where Executed. Intellectual Property. Our clearing houses clear, settle and guarantee the financial performance of futures contracts and options on futures contracts. Traders generally have to post initial margin based on the riskiness of a position and any possible offsets the clearing firm may apply. As an early consolidator in global markets, we intend to continue to explore and pursue acquisitions and other strategic opportunities to strengthen our competitive position globally, broaden our product offerings and services for our customers, and support the growth of our company while maximizing shareholder value as measured by return on invested capital, earnings and cash growth. A reduction in trading volumes could also result in a corresponding decrease in the demand for our market data, which would further reduce our overall revenue. We have developed and have begun rolling out a new integrated trading platform and matching engine known as NYSE Pillar that will serve each of our U.