Intercontinental Exchange Inc. (ICE) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

followed by one on your telephone keypad. We kindly ask that you limit yourself to one question and then rejoin the queue if you have a follow-up. I'll now hand you over to Katia Gonzalez, Manager of Investor Relations, to begin. Please go ahead. Good morning. ICE's third quarter 2025 earnings release and presentation can be found in the investor section of ICE.com. These items will be archived and our code will be available for replay. Today's call may contain forward-looking statements. These statements, which we undertake no obligation to update, represent our current judgment and are subject to risks, assumptions, and uncertainties. For a description of the risks that could cause our results to differ materially from those described in forward-looking statements, please refer to our 2024 Form 10-K, 2025 Third Quarter Form 10-Q, and other filings with the SEC. In our earnings supplement, we refer to certain non-GAAP measures. We believe our non-GAAP measures are more reflective of our cash operations and core business performance. You'll find our reconciliation to the equivalent GAAP terms in the earnings materials. When used on this call, net revenue refers to revenue net of transaction-based expenses, and adjusted earnings refers to adjusted diluted earnings per share. Throughout this presentation, unless otherwise indicated, references to revenue growth are on a constant currency basis. Please see the explanatory notes on the second page of the earnings supplement for additional details regarding the definition of certain items. With us on the call today are Jeff Strecker, Chair and CEO, Warren Gardner, Chief Financial Officer, Ben Jackson, President, Lynn Martin, President of the NYSE, and Chris Edmonds, President of Fixed Income and Data Services. I'll now tu...