Intercontinental Exchange Q3 earnings beat, helped by an active market (ICE:NYSE)

Intercontinental Exchange (ICE), parent of the NYSE, partnered with Hyperliquid and TradeXyz to enter the US perpetual futures market. ICE will invest in TradeXyz and use its blockchain for the product. Hyperliquid's HYPE token rose 17.5% to $93 on the news. ICE aims to complement existing futures markets with perpetual futures, which track assets like stocks and commodities.

HyperLiquid (HYPE) rose 18% amid a broader crypto market decline, with $1.49B in liquidations. The rally followed an ICE deal, Stanley Druckenmiller's investment, and Elon Musk's post. Binance's suspected hack weighed on the market, with $6.2B impacted. HYPE's gains may depend on regulatory approval and launch details.

Intercontinental Exchange (ICE) is partnering with Trade[XYZ], a major builder on Hyperliquid, to launch a regulated perpetual futures market in the U.S. for traditional and crypto assets, pending CFTC approval. ICE will invest in Trade[XYZ], which has significant trading volume on Hyperliquid. The partnership aims to combine ICE's exchange expertise with Trade[XYZ]'s decentralized market experience.

Intercontinental Exchange Inc (ICE) reported Q3 2026 record adjusted EPS of $2.02, up 18% YoY, and net revenues of $2.8B, up 15%. Exchange segment revenue rose 22% to $1.5B. Mortgage tech revenue grew 4%, but faces Q4 decline due to high rates. Capital expenditures increased to $1.5B. The Market Access acquisition is delayed until Q1 2027. ICE expects continued fixed income and data services growth, driven by client demand and AI/agentic data.

Intercontinental Exchange (ICE), owner of the NYSE, plans to bring Hyperliquid's Trade[XYZ] platform to the U.S. HYPE token surged 17%. ICE will operate regulated markets for retail investors, offering perpetual futures on crypto, stocks, commodities, and currencies. Trade[XYZ] has handled $650B in volume. ICE's CEO sees this as complementary to existing markets. Regulatory approval is pending.

Intercontinental Exchange (ICE) agreed to operate Trade[XYZ]'s regulated markets, including a 24/7 perpetual futures venue for US customers. The deal, pending regulatory approval, involves ICE taking a minority stake in Trade[XYZ] and building a separate retail market and clearing structure. The venue, ICE[XYZ], will offer contracts on equities, indices, commodities, currencies, and crypto, with access through futures brokers.