Ashleigh Rogers
Long/short equity, growth at reasonable price, value, banks

IntercontinentalExchange Group Is Becoming A Dominant Play In A Consolidating Industry

Electronic exchange company IntercontinentalExchange Group (NYSE:ICE) operates a market for exchange-based and over-the-counter trading in various commodities. Atlanta-based ICE is perhaps the most interesting player in the exchange space right now, not necessarily as a long-idea (though it's not a bad stock as I will discuss in a moment), but simply because of the transformative acquisition of the NYSE last year.

The New York Stock Exchange is of course one of the world's most well-known financial brands, and so it was truly remarkable last year when relative upstart ICE announced that it wanted to merge with the NYSE. ICE has only been around since about 2000, whereas the NYSE has a history that is literally intertwined the financial...

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