billp70964

IntercontinentalExchange: 'Growth Exchange Without the Multiple'

"Analysts caution about a forthcoming decline in trading volumes, though the anxiously-awaited slump has yet to arrive: U.S. stock-trading volume is up 54% this year,"

This is the intellectual underpinning for every analyst trashing the entire sector-and guess what? It appears to be wrong, especially for equities and options. NYX at a P/e of 7? CME at a p/e 12? NDAX at a p/e of 11?

The entire sector should be bought when the fallacy of the statement above becomes apparent.