Intercontinental Exchange, Inc. (ICE) J.P. Morgan 2025 Ultimate Services Investor Conference November 18, 2025 11:40 AM EST
Company Participants
Warren Gardiner – Chief Financial Officer
Conference Call Participants
Kenneth Worthington – JPMorgan Chase & Co, Research Division
Presentation
Kenneth Worthington
JPMorgan Chase & Co, Research Division
Hi, everybody. My name is Ken Worthington. I cover brokers, asset managers, exchanges and crypto at JPMorgan. Today, we have Warren Gardiner, the CFO of ICE. I’m going to walk through 25-ish minutes of Q&A. I encourage you all, if you have questions, I’ll allot time at the end for Q&A, and you’ll be able to hear less from me and probably more of your own good questions. So Warren, thank you so much for joining here today.
Question-and-Answer Session
Kenneth Worthington
JPMorgan Chase & Co, Research Division
I’m going to start sort of higher level. I’m going to dig through the exchange part of the business, mortgage and end up a little bit with FIDS. But starting big picture and higher level, where are you spending your time these days? What’s taking your time? Where are you focused? What are you thinking about?
Warren Gardiner
Chief Financial Officer
Well, first of all, thanks for having me, and thanks, everybody, for joining here and everybody online listening. So I would say, look, these days, it’s really focused on the day-to-day operations of the company. So looking across our various businesses. We’re in the middle of our budget process right now. So thinking about capital allocation across the business as we head into next year. And we are in a fortunate position.
I consider myself pretty lucky from that perspective that we’ve got a business that’s around $10 billion or so of revenue, generates maybe $6.5 billion or so of EBITDA off of that. So a really healthy
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