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ICE vs TW
Which Stock Would AI Choose? Intercontinental Exchange (ICE) vs. Tradeweb Markets (TW) Stock Comparison
Key Takeaways
- Both ICE and TW reported strong year-over-year growth in trading volumes and open interest during June 2026, reflecting robust activity in their respective electronic and derivatives markets.
- ICE demonstrated broad-based gains across energy, agriculture, financials, and equities segments, with total open interest rising 20% year-over-year.
- TW achieved record June trading volumes of $69.7 trillion and average daily volume of $3.2 trillion, up 29.5% year-over-year, underscoring demand for its multi-asset electronic platforms.
- Year-to-date stock performance shows ICE down approximately 15-16% while TW declined about 9-10%, with both trading below their 52-week highs amid broader market conditions.
- Both companies are scheduled to report second-quarter 2026 earnings on July 30, 2026, providing further insight into revenue trends tied to trading activity.
- Sector exposure centers on financial market infrastructure, with ICE offering greater diversification into futures and exchanges and TW focused on fixed-income and multi-asset electronic trading.
Introduction
This comparison examines ICE (Intercontinental Exchange) and TW (Tradeweb Markets), two companies operating in the financial market infrastructure and electronic trading sectors. Both benefit from increasing demand for efficient trading platforms and derivatives products. The analysis focuses on recent performance metrics, business models, and market positioning to assist institutional and retail investors evaluating relative opportunities in exchange and trading technology stocks during periods of evolving market liquidity and regulatory dynamics.
ICE Overview and Recent Performance
Intercontinental Exchange operates global exchanges, clearing houses, and data services, including ownership of the New York Stock Exchange and a range of futures and options products. In recent market activity, the company reported broad-based volume growth for June and the second quarter of 2026, with total open interest rising 20% year-over-year and notable increases in energy, agriculture, financial derivatives, and equities segments. Average daily volumes advanced across interest rates, equity indices, and NYSE cash equities and options. These developments supported sentiment around the firm’s diversified infrastructure, though the stock has traded lower on a year-to-date basis amid macroeconomic influences and sector rotation. Upcoming second-quarter earnings on July 30, 2026, are expected to provide additional clarity on fee revenue tied to these activity levels.
TW Overview and Recent Performance
Tradeweb Markets provides electronic trading platforms across rates, credit, equities, and money markets, serving institutional clients globally. Recent trading updates highlighted record volumes, with June 2026 total trading volume reaching $69.7 trillion and average daily volume of $3.2 trillion, representing a 29.5% year-over-year increase. Second-quarter average daily volume rose 18.2% year-over-year, accompanied by preliminary fee metrics indicating sustained client engagement. The stock has experienced a year-to-date decline while maintaining longer-term positive returns, reflecting the company’s positioning in electronic fixed-income and multi-asset trading amid shifting interest-rate environments. Second-quarter earnings are also scheduled for July 30, 2026.
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Head-to-Head Comparison
ICE operates a broader exchange and clearing ecosystem with exposure to futures, options, and data services, while TW specializes in electronic multi-asset trading venues emphasizing fixed income and credit. Growth drivers for ICE include expanding open interest in commodities and financial derivatives, whereas TW benefits from rising electronic adoption in rates and credit markets. Recent momentum favors both through volume surges, though ICE shows wider segment diversification and TW demonstrates stronger percentage volume growth in its core offerings. Risk factors include regulatory changes affecting derivatives and competition in electronic trading; ICE carries additional exposure to equity market listings and mortgage data, while TW faces sensitivity to fixed-income trading volumes. Market sentiment reflects institutional interest in infrastructure plays amid liquidity shifts, with both stocks exhibiting volatility relative to broader indices.
Tickeron AI Verdict
Based on observable factors such as consistent volume growth, open interest trends, and relative stability in trading metrics, Tickeron’s AI models currently assign a modestly higher probabilistic weighting to TW due to its stronger percentage year-over-year advances in average daily volume and concentrated focus on high-growth electronic segments. However, ICE maintains a competitive edge through broader diversification that may support more consistent positioning across market regimes. Any preference remains probabilistic and subject to earnings outcomes and evolving liquidity conditions.
Disclaimer
The information on this webpage is provided for general informational and educational purposes only and is not intended as investment advice, a recommendation to purchase or sell any security, or an offer or solicitation related to investments. It does not consider your personal financial situation, goals, or risk profile, and all investing carries inherent risks, including the possibility of losing your entire investment. For more details, please review our full disclaimer.
To compare these two companies we present long-term analysis, their fundamental ratings and make comparative short-term technical analysis which are presented below. The conclusion is ICE is a StrongBuy and TW is a StrongBuy.
Long-Term Analysis
It is best to consider a long-term outlook for a ticker by using Fundamental Analysis (FA) ratings. The rating of 1 to 100, where 1 is best and 100 is worst, is divided into thirds. The first third (a green rating of 1-33) indicates that the ticker is undervalued; the second third (a grey number between 34 and 66) means that the ticker is valued fairly; and the last third (red number of 67 to 100) reflects that the ticker is undervalued. We use an FA Score to show how many ratings show the ticker to be undervalued (green) or overvalued (red).
ICE’s FA Score shows that 0 FA rating(s) are green whileTW’s FA Score has 0 green FA rating(s).
- ICE’s FA Score: 0 green, 5 red.
- TW’s FA Score: 0 green, 5 red.
Short-Term Analysis
It is best to consider a short-term outlook for a ticker by using Technical Analysis (TA) indicators. We use Odds of Success as the percentage of outcomes which confirm successful trade signals in the past.
If the Odds of Success (the likelihood of the continuation of a trend) for each indicator are greater than 50%, then the generated signal is confirmed. A green percentage from 90% to 51% indicates that the ticker is in a bullish trend. A red percentage from 90% - 51% indicates that the ticker is in a bearish trend. All grey percentages are below 50% and are considered not to confirm the trend signal.
ICE’s TA Score shows that 5 TA indicator(s) are bullish while TW’s TA Score has 5 bullish TA indicator(s).
- ICE’s TA Score: 5 bullish, 3 bearish.
- TW’s TA Score: 5 bullish, 3 bearish.
Price Growth
ICE (@Financial Publishing/Services) experienced а +2.05% price change this week, while TW (@Investment Banks/Brokers) price change was -2.67% for the same time period.
The average weekly price growth across all stocks in the @Financial Publishing/Services industry was +1.72%. For the same industry, the average monthly price growth was +0.73%, and the average quarterly price growth was -10.63%.
The average weekly price growth across all stocks in the @Investment Banks/Brokers industry was -7.53%. For the same industry, the average monthly price growth was -8.39%, and the average quarterly price growth was -19.38%.
Reported Earning Dates
ICE is expected to report earnings on Jul 30, 2026.
TW is expected to report earnings on Jul 30, 2026.
Industries' Descriptions
@Financial Publishing/Services (+1.72% weekly)The financial publishing /services sector includes companies that provide informational products and services that are of value to investors, financial/analytics professionals and other interested readers. The products include real-time stock quotes, financial news and analyses. Think S&P Global, Inc., Moody`s Corporation, Thomson-Reuters Corp and IHS Markit Ltd. Information is critical in making financial or investment decisions, and what makes this industry’s output relevant at all times, across various economic conditions.
@Investment Banks/Brokers (-7.53% weekly)These banks specialize in underwriting (helping companies with debt financing or equity issuances), IPOs, facilitating mergers and other corporate reorganizations and acting as a broker or financial advisor for institutions. They might also trade securities on their own accounts. Investment banks potentially thrive on expanding its network of clients, since that could help them increase profits. Goldman Sachs, Morgan Stanley and CME Group Inc are some of the largest investment banking companies.
| ICE | TW | ICE / TW | |
| Capitalization | 77.9B | 21.2B | 367% |
| EBITDA | 7.53B | 1.51B | 500% |
| Gain YTD | -14.406 | -7.074 | 204% |
| P/E Ratio | 20.04 | 24.61 | 81% |
| Revenue | 13.1B | 2.16B | 606% |
| Total Cash | N/A | 1.94B | - |
| Total Debt | 21B | 143M | 14,685% |
ICE | TW | ||
|---|---|---|---|
OUTLOOK RATING 1..100 | 15 | 66 | |
VALUATION overvalued / fair valued / undervalued 1..100 | 62 Fair valued | 93 Overvalued | |
PROFIT vs RISK RATING 1..100 | 70 | 80 | |
SMR RATING 1..100 | 61 | 61 | |
PRICE GROWTH RATING 1..100 | 63 | 73 | |
P/E GROWTH RATING 1..100 | 93 | 96 | |
SEASONALITY SCORE 1..100 | 50 | 85 |
Tickeron ratings are formulated such that a rating of 1 designates the most successful stocks in a given industry, while a rating of 100 points to the least successful stocks for that industry.
ICE's Valuation (62) in the Investment Banks Or Brokers industry is in the same range as TW (93) in the Internet Software Or Services industry. This means that ICE’s stock grew similarly to TW’s over the last 12 months.
ICE's Profit vs Risk Rating (70) in the Investment Banks Or Brokers industry is in the same range as TW (80) in the Internet Software Or Services industry. This means that ICE’s stock grew similarly to TW’s over the last 12 months.
ICE's SMR Rating (61) in the Investment Banks Or Brokers industry is in the same range as TW (61) in the Internet Software Or Services industry. This means that ICE’s stock grew similarly to TW’s over the last 12 months.
ICE's Price Growth Rating (63) in the Investment Banks Or Brokers industry is in the same range as TW (73) in the Internet Software Or Services industry. This means that ICE’s stock grew similarly to TW’s over the last 12 months.
ICE's P/E Growth Rating (93) in the Investment Banks Or Brokers industry is in the same range as TW (96) in the Internet Software Or Services industry. This means that ICE’s stock grew similarly to TW’s over the last 12 months.
| ICE | TW | |
|---|---|---|
| RSI ODDS (%) | 1 day ago 61% | 1 day ago 75% |
| Stochastic ODDS (%) | 1 day ago 41% | 1 day ago 69% |
| Momentum ODDS (%) | 1 day ago 56% | 1 day ago 64% |
| MACD ODDS (%) | 1 day ago 40% | 1 day ago 71% |
| TrendWeek ODDS (%) | 1 day ago 50% | 1 day ago 63% |
| TrendMonth ODDS (%) | 1 day ago 54% | 1 day ago 58% |
| Advances ODDS (%) | 1 day ago 51% | 1 day ago 58% |
| Declines ODDS (%) | 15 days ago 51% | 5 days ago 63% |
| BollingerBands ODDS (%) | 1 day ago 61% | 1 day ago 69% |
| Aroon ODDS (%) | 1 day ago 64% | 1 day ago 54% |
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ICE and
Correlation & Price change
A.I.dvisor indicates that over the last year, ICE has been loosely correlated with MCO. These tickers have moved in lockstep 58% of the time. This A.I.-generated data suggests there is some statistical probability that if ICE jumps, then MCO could also see price increases.
| Ticker / NAME | Correlation To ICE | 1D Price Change % | ||
|---|---|---|---|---|
| ICE | 100% | +1.78% | ||
| MCO - ICE | 58% Loosely correlated | +1.73% | ||
| SPGI - ICE | 56% Loosely correlated | +1.70% | ||
| TW - ICE | 52% Loosely correlated | +1.86% | ||
| TRU - ICE | 48% Loosely correlated | +1.59% | ||
| MSCI - ICE | 44% Loosely correlated | +2.57% | ||
More | ||||
TW and
Correlation & Price change
A.I.dvisor indicates that over the last year, TW has been loosely correlated with ICE. These tickers have moved in lockstep 51% of the time. This A.I.-generated data suggests there is some statistical probability that if TW jumps, then ICE could also see price increases.