Intercontinental Exchange’s fourth quarter profits of $49m were 24% down on the same period a year ago, due to higher operating costs and a writedown of its investment in India’s National Commodity & Derivatives Exchange.
Market conditions for virtually every exchange have been difficult so far in 2009 and ICE said it planned to cut staff by 5%-7% during the first quarter, from its headcount of 795 at the end of 2008.