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ICE rises after quarterly results beat

By Reuters News

** Shares of NYSE owner Intercontinental Exchange ICE.N rise 5.7% to $164.87

** Co posts Q3 adjusted earnings per share of $2.02, beating estimates of $1.97, according to data compiled by LSEG

** Reports Q3 net revenue of $2.77 billion, above analysts' estimates of $2.75 billion - data compiled by LSEG

** Separately, ICE partners with Trade XYZ to launch a US-regulated platform for round-the-clock trading in perpetual futures, subject to regulatory approval

** ICE would act as the exclusive operator of Trade XYZ's regulated markets while also making a strategic investment in the company

** Analysts at RBC Capital Markets say the agreement expands ICE's total addressable market to a large, global population of retail traders currently active on offshore venues

** "ICE's current participation is more than 99% institutional, making retail a new and incremental market opportunity"

** 14 of 17 analysts rate stock "strong buy" or "buy", two "hold" and one "sell"; their median PT is $183 - data compiled by LSEG

** As of last close, stock down 3.7% YTD

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