In a circular issued late Wednesday, Intercontinental Exchange (ICE) confirmed it will extend its daily trading hours for key European gas and power contracts effective February 23. The move adds two additional hours to the current trading window, increasing total market access to 22 hours per day and covering nearly the full 24-hour international energy cycle. ICE cited growing customer demand driven by heightened volatility in continental gas benchmarks and the EU’s accelerated transition to renewable power, noting that average daily gas futures volume climbed 14% year-on-year in the fourth quarter of 2025. By aligning its sessions more closely with Asian and North American market hours, ICE expects improved liquidity and tighter bid-ask spreads, particularly in its Dutch TTF and UK National Balancing Point contracts, which together accounted for over €1.2 trillion in notional turnover last year.

Analyst John Wheeler at Raymond James announced a modest increase in ICE’s price target to $211.00 from $210.00 while reiterating a Strong Buy rating ahead of the company’s fourth-quarter 2025 earnings release. Wheeler highlighted that futures trading volumes returned to mid-single-digit growth in Q4 after a summer seasonal slowdown, underpinning robust commissions revenue. He emphasized ICE’s diversified platform, which spans energy, agricultural and financial products, as well as its strategic investments in clearing services and data analytics. With shares trading at approximately 22 times Raymond James’ 2026 non-GAAP EPS estimate, the firm describes the risk-reward profile as favorable, forecasting aggregate annual revenue growth of 8% to 10% and EPS growth of 12% over the next three years.